TSB has introduced a range of new two-year fixed rate mortgage deals, while Natwest has cut rates on selected deals to coincide with the roll-out of procuration fees from today.
TSB’s new buy-to-let range, with each product subject to a £995 fee, is available to purchases and those remortgaging at up to 60% loan-to-value (LTV) and start from 1.79%
Meanwhile, Natwest has increased rates on selected two-year fixed rate buy-to-let remortgages by 0.1%.
Mark Bullard, head of sales at Natwest, which from today will pay mortgage brokers a gross procuration fee of 0.2% on completion of each product transfer deal, said: “Having reviewed our portfolio we have made a few adjustments to rates to reflect the current market conditions and balance our mix of business.”
Data released earlier this week by Paragon Mortgages revealed that Buy-to-let mortgages made up 17% of all mortgage cases in the three months to October.
John Heron, Paragon’s managing director, said “It is positive for the buy-to-let market to see application numbers increase after weaker numbers in the previous three quarters.
“Hopefully, this will be a sign of things to come for the buy-to-let market after a period of uncertainty following regulatory changes, reduced tax relief and the uncertainty around Brexit.”