Under the terms of the deal, clients refinancing from a lender outside of RBS Intermediary Partners will only have to pay an arrangement fee twice, as long as all the transactions are completed during a three month period.
NatWest will also pay the valuation and legal fees on all remortgage cases.
Find out more about this weeks industry news
A spokesman for RBS Intermediary Partners commented: “Buy-to-let (BTL) is one of the key areas we want to develop this year in the intermediary market, so we’re continuing to make improvements to our product range. We recognise that in the BTL market intermediaries are often dealing with multiple-property financing. That’s why I am delighted to be able to offer brokers such a pioneering ‘five for two’ deal.”
At the same time, RBS Intermediary Partners is also launching a two-year discount BTL mortgage product priced at 4.98 per cent.
Catch up on the industry buzz
The deal has an arrangement fee of £2,500, which can be added to the loan, a 2 per cent early repayment charge during the initial deal period and a maximum loan-to-value of 85 per cent.
Kevin Morgan, managing director of Consilium Financial Planning, commented: “It just goes to show how competitive the BTL market is right now. There is quite a bit of BTL remortgage business out there so this is a good way of reducing the amount of fees that buyers will have to pay, which will appeal to a lot of clients who have a few properties to do in the near future.”
