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NatWest Intermediary Solutions – Core Range: Two-Year Tracker Buy-To-Let

NatWest Intermediary Solutions – Core Range: Two-Year Tracker Buy-To-Let

Type: Buy-to-let tracker mortgage

Tracker term: Until July 31, 2012

Tracker rate: 3.49% above the Bank of England base rate

Payable rate: 3.99%

Minimum loan: £15,000

Maximum loan: Up to 60% of valuation subject to a maximum of £500,000

Income multiples: Rental income must be at least 125% of the mortgage repayments calculated at 7% but for appliances earnings at least £50,000 a year, a reduced rental cover of 100% of the mortgage repayments at 7% will be considered, provided the remaining 25% can be met from their income and that the applicant has less than three buy-to-let properties including the current application

Conditions: Capital repayments of up to 10% a year allowed without penalty in the tracker period, available only for properties in England, Scotland and Wales, up to 10 properties allowed with the RBS group within a total maximum of £3.5m

Arrangement fee: £1,999

Redemption fee: 3% of the amount repaid in the first two years

Introducer’s fee: Refer to lender

Contact: www.natwest.com/intermediarysolutions

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