New NatWest mortgage for buy-to-let buyers

Two new NatWest mortgages have been announced for the buy-to-let market.

The new deals, which are available to both new and existing customers, include a base rate of +0.54 per cent, variable until 30 June 2007.

According to, Charles Haresnape, director of mortgage sales at NatWest, the deals mean that Natwest is able to offer a greater choice to brokers and their clients.

He added: "We are constantly looking to improve our mortgage range and have recently
reviewed our buy-to-let deals."

Customers get a free valuation with both deals as well as the option to make overpayments.

Mr Haresnape explained that the mortgage process was now more "straightforward" for potential investors to meet monthly income yields.

"At NatWest monthly rental incomes must be 130 per cent of the interest only mortgage payment, calculated at bank base rate + 1.25 per cent (minimum of 6 per cent)."