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NatWest launches buy-to-let tracker

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NatWest is set to celebrate the tenth anniversary of the buy-to-let mortgage by releasing a new product .

The mortgage comes in two and three-year options, along with a long-term deal, the three-year tracking at 0.19 per cent above the base rate, currently 4.94 per cent.

With a minimum fee of �50,000 and an arrangement fee of �699, the mortgage has an annual ten per cent overpayment option, which may help investors looking to buy the property more quickly.

The two year mortgage tracks at 0.39 per cent above the base rate, while the long-term package is at 1.10 per cent.

Guy Aldwinckle, head of NatWest Mortgages, commented: People have become more financially aware over the last decade. Property continues to be a popular choice for long-term investment and retirement planning so NatWest has developed buy-to-let products to suit the changing profile of buy-to-let investors .

At 4.94 per cent for three years this new base rate tracker makes owning a buy-to-let property a more affordable option for investors both old and new.

Rise in tenant demand has led to strong recent growth in the buy-to-let sector, according to recent research from Paragon.

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