NatWest is changing its end dates and rates on BTL product ranges for new and existing customers from tomorrow (Tuesday 13th June).
The end dates of both the two-year term and five-year term are moving from 30th September 2025/2028 to 31st October 2025/2028.
For existing customers, the BTL switcher rate will increase by up to 42bps and 26bps on selected two- and five-year deals.
Lewis Shaw, owner and mortgage broker at Riverside Mortgages, commented: “I'm no longer sure what level of reality I'm meant to be operating on.
“This could sound the death knell for BTL, at least with NatWest.
“Something has clearly spooked the money markets around 2pm today, and the two-year gilt yield has shot above its peak following the mini-Budget in September.
“This is extremely worrying and I don't know where it ends.”
Luke Thompson, director at PAB Wealth Management, added: “My assumption is that NatWest want to see where swap rates will go in the coming weeks and once it has a bit more of an idea on that front, it may start to price BTL products more competitively again.”
