LETTING & ESTATE AGENT

NatWest/RBS extends cap to BTL lending

NatWest/RBS extends cap to BTL lending

Natwest Intermediary Solutions has introduced a new loan-to-income (LTI) cap for its buy-to-let mortgage range.

The cap, to be introduced from 14 July, will be set at 4.99 times LTI per application, for all BTL business.

This will bring NatWest Intermediary Solutions in line with all other RBS and NatWest mortgage channels.

NatWest said it places a strong focus on affordability and responsible lending, and will help safeguard its customers

It is introducing the buy-to-let LTI cap to make it consistent with its residential lending policy.

The maximum loan-to-value for buy-to-let mortgages will remain at 75%, as will its maximum loan size of £500,000. All other criteria are unchanged.

The new policy will also be introduced on the same date to buy-to-let mortgages from RBS Intermediary Partners and RBS and NatWest mortgages available through the retail channels.

RBS, Santander and Lloyds have all introduced mortgage caps on residential lending in recent weeks, to curb fears over soaring house prices.