NatWest and Landbay launch BTL mortgage partnership for professional landlords

NatWest Group has announced a tie-up with Landbay to launch its first buy to let mortgage offerings aimed at professional landlords.

NatWest will be leveraging Landbay’s established platform and extensive broker network to fund a range of mortgage products under the Landbay brand.

Nigel Davey, the head of buy to let at NatWest Group, said the move was an ‘important partnership’ for its home buying and ownership business.

He added: “Landbay’s industry expertise and market agility enables fast access to the dynamic professional landlord sector.”

BTL offering to professional landlords

Landbay’s chief executive, John Goodall, said: “This partnership deal is great news for intermediaries and their clients: it will help us broaden our offering to brokers and professional landlords – an important and growing segment of the buy-to-let market – providing them even greater choice.”

He went on to say that the move reinforces the reputation Landbay has for originating, underwriting and managing buy to let mortgages for other financial institutions.

Mr Goodall added: “It will be a key driver of growth over the coming years.”

NatWest gets ‘Excellent’ Moneyfacts rating

To highlight what NatWest might bring to the BTL market, Moneyfactscompare.co.uk has praised one of its BTL products as its deal of the week.

NatWest’s competitive five-year fixed rate mortgage at 4.30% until 30 November 2030, is available for house purchase customers at 75% loan-to-value (LTV).

Caitlyn Eastell, a spokesperson at Moneyfactscompare, praised the offering and said: “Alongside extending end dates, NatWest has reduced rates across most of its buy to let range.

“The five-year fixed deal at 75% loan-to-value for house purchase customers has seen a 0.09% cut and is now priced at 4.30% until 30 November 2030.

“Landlords will note that the fee remains at a reasonable £995 which is offset by its free valuation incentive.”

She adds: “On assessment, this deal earns an Excellent Moneyfacts product rating.”

TMW lowers its BTL rates

Meanwhile, The Mortgage Works (TMW) has also announced rate reductions across its buy to let and limited company buy to let ranges, further intensifying competition in the sector.

TMW’s limited company products include a two-year fixed rate at 3.99% with a 3% fee and a 5.09% option with a £1,495 fee, both at 75% LTV and including free valuations.

For standard buy-to-let, TMW offers a two-year fixed rate for remortgage at 4.04% with a £1,495 fee at 65% LTV, and a five-year fixed rate at 4.44% with no fee at 75% LTV, both including free valuations and legal services.

Joe Avarne, TMW’s senior manager, said: “We are pleased to announce further rate cuts across our mortgage range, which should come as great news for landlords.

“They really demonstrate that The Mortgage Works remains committed to supporting all types of landlords with competitive rates.”

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