News
NatWest adds guarantee scheme products for intermediaries from next week
NatWest Intermediary Solutions has added its new Mortgage Guarantee Scheme products for intermediaries as of 2 June.
The scheme will offer two and five-year fixed rates at 90 to 95 per cent loan to value with a maximum purchase price of £600,000 on a repayment basis. This comes after the bank launched the scheme direct to customers only on 19 April.
More specific details of the products will be announced on 1 June.
The launch of the scheme for brokers comes after NatWest implemented changes to its application system enabling agreements in principle with a soft footprint.
The mortgages will be available for residential mortgages, excluding second homes, new builds and buy to let. Borrowers will need to pass NatWest’s standard affordability and credit checks.
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On the buy to let side, the lender will adjust its offer on 2 June, by removing the requirement for a minimum income across all application types.
NatWest Intermediary Solutions will also add a new Economic Hub for advisers, with updates providing an overview of key themes impacting the economy.