NatWest Buy To Let Mortgage are some of the most popular and competitive buy to let mortgages available across the UK market.
They are a well-known provider of banking and financial services in Britain. Since National Provincial Bank and Westminster Bank merged to establish National Westminster Bank in 1968, the word "NatWest" is an acronym for that institution and they are a division of the Royal Bank of Scotland Group (RBS Group).
Individuals, companies, and corporate clients can choose from a wide array of banking services offered by NatWest. Personal banking, savings accounts, loans, credit cards, mortgages, investment banking, wealth management, and insurance products are some of the services offered. With several branches and online banking systems to serve its clients, NatWest has a large presence throughout the UK.
NatWest has long been a significant player in the UK banking industry, having played a significant role in the privatisation of the sector in the 1980s. Significant obstacles have also been faced by the bank, such as the 2008 financial crisis, which resulted in its takeover by the RBS Group.
In the UK, NatWest is still a well-known and respected bank, renowned for its retail and business banking services as well as its dedication to innovation and the client experience.
Both prospective and current clients can choose from a variety of buy-to-let mortgage arrangements offered by NatWest.
Whether you are a seasoned landlord looking to add more properties to your portfolio or a first-time buyer of buy-to-let real estate, NatWest may have the best buy-to-let mortgage option for you.
What types of mortgages are available with NatWest?
- Fixed. Your rate and monthly payment remain fixed in at a set rate for a set period of time.
- Remortgaging. You can easily switch your existing mortgage to a NatWest Buy To Let Mortgage through one of NatWest's many remortgage products.
- Variable. Your payable rate may fluctuate dependant on various factors, such as the UK and lender economic climate.
- Tracker Rate. Your rate will follow the Bank of England Base Rate. This means it can also increase or decrease depending if the BofE change the base rate.
- BTL. A NatWest Buy To Let Mortgage allows you to purchase or mortgage a property with the intention of letting it out to tenants.
- Shared Ownership. Using this financing, you are able to purchase a portion of a property while renting out the remaining space. After that, you can apply to purchase more percentages as you become financially able to do so.
- 95% Loan To Value. With this mortgage type, you can purchase a home with a 5% down payment instead of the whole purchase price.
- Cashback Mortgage. NatWest will pay cashback into your bank account following completion of this type of mortgage.
- Interest-only Mortgage. Your monthly payments for this mortgage type will simply pay the interest on the loan. At the conclusion of the mortgage period, you will pay off the capital.
- Green. There is a maximum LTV on these types of NatWest Buy To Let Mortgage products, set at 85%. These types of mortgages allow you to get a better rate than the standard mortgage products on offer if the property has an EPC rating of A or B.
What is a Buy To Let Mortgage?
An investment mortgage, commonly referred to as a buy-to-let mortgage, is a type of mortgage created especially for people or investors who want to buy a home with the idea of renting it out to renters. It's a financial tool that makes it easier to buy a house for rental revenue rather than for personal usage. Due to the perceived additional risk involved with rental properties, buy-to-let mortgages frequently have slightly higher interest rates than residential mortgages. The chosen mortgage product will determine whether the rates are fixed or variable. To make sure the mortgage obligations are covered, lenders will assess the predicted rental revenue from the property. They might call for rental evaluations and take into account things like the state of the neighbourhood rental market and future rental demand. Depending on the nation, different tax laws apply to buy-to-let property expenses and rental revenue. It is crucial to take into account future tax liabilities, such as income tax and any relevant property taxes. Buy-to-let mortgages give consumers the opportunity to make real estate investments and earn rental income. When considering to make investments in buy-to-let homes, it is essential to carefully evaluate the prospective rental income, property management obligations, and associated expenditures. To fully comprehend the exact terms, circumstances, and ramifications of buy-to-let mortgages, it is also advisable to get professional guidance from mortgage experts or financial professionals.
What is the criteria for a NatWest Buy To Let Mortgage?
- Minimum age at application is 18
- Maximum age at application is 77
- Maximum age at end of mortgage term is 80
- There is ZERO minimum income requirement
- Minimum loan size is £25,000
- Minimum property value for a NatWest Buy To Let Mortgage is £50,000
- Maximum number of applicants is 2
- Minimum term of mortgage is 3 years
- Maximum term of mortgage is 35 years
- NatWest does not provide Ltd company BTL lending
- NatWest does not provide lending to the Channel Islands and Isle of Man
- NatWest does not accept HMO's for BTL lending
- NatWest does not accept Expat Buy To Let lending
- Properties with an EPC rating of F or G are not acceptable for lending purposes
- NatWest will not accept applications where the source of the deposit is from unsecured lending
- A NatWest Buy To Let Mortgage is not a sharia compliant one
Why could I not get a NatWest Buy To Let Mortgage or Remortgage?
If you are remortgaging to NatWest with any of the following reasons, unfortunately NatWest cannot consider these applications:
- Business purposes
- Purchase of commercial property
- Capital raising for a BTL property where the property has not yet been located
- Debt consolidation
Is it possible for a First Time Buyer to get a NatWest Buy To Let Mortgage?
In short, yes. It is possible for first time buyers to secure a BTL mortgage with NatWest. However, all other criteria for BTL lending must also be met.
What repayment types are available through NatWest?
Although interest-only mortgages are the most frequent type of buy to let mortgage, we also provide capital and interest mortgages.
With an interest-only mortgage, you only pay the interest each month for the duration of the loan, but you must pay off the capital debt, or the total amount owed on the mortgage, in full at the end of the term. With a capital and interest mortgage, you make monthly payments for both the principal debt and the interest.