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NatWest set to widen buy-to-let criteria to professional landlords

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  • 10/09/2015
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NatWest set to widen buy-to-let criteria to professional landlords
NatWest is set to widen its buy-to-let criteria by allowing professional landlords to apply for mortgages from tomorrow.

The lender will consider applications from customers who earn more than 30% of their income from rental properties and has removed its maximum loan limit of £500,000.

The changes in criteria will only apply to new cases that have been submitted from tomorrow onwards. All other criteria remain the same. The rental cover calculation remains at 125% x 5.5%.

Paul Kane, acting head of sales, NatWest Intermediary Solutions, said: “Having enjoyed great success and increased our lending, we are now confident that we can significantly grow our buy-to-let business into areas of the market that previously we have not operated in.

“The introduction of our new criteria means that we can now welcome applications from professional landlords which is something that many brokers have been crying out for.”

 

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