NatWest is giving buyers and remortgagers a major lift increasing loan-to-income (LTI) limits for residential mortgages and launching a WhatsApp channel for brokers to access instant support.
From today, sole applicants earning more than £75,000 can borrow up to 6 x income on purchases and remortgages at 75% LTV or below.
Joint applicants with combined incomes above £100,000 now have access to the same 6 x LTI.
Meanwhile, other customers see the maximum LTI rise from 5 x to 5.5x salary, widening borrowing power for first-time buyers, home movers and those remortgaging to NatWest.
SIGNIFICANT BOOST
Under the new criteria, a £75,000 earner could borrow up to £37,500 more than before, giving buyers a significant boost in a market where affordability remains tight. The changes apply to repayment mortgages only.
NatWest has also launched a dedicated WhatsApp channel for mortgage brokers. The new service enables intermediaries to contact NatWest’s Intermediaries team instantly for guidance on pre- and post-application matters as well as administrative support such as Broker Portal password resets.
CHAMPIONING HOME OWNERSHIP
Lloyd Cochrane (main picture, inset), head of mortgage propositions at NatWest Group, said: “As a major lender supporting the housing market in the UK, we are committed to championing home ownership and today’s changes allow us to responsibly lend more to our mortgage customers.
“Alongside this, we have also launched a dedicated WhatsApp channel for mortgage brokers so that brokers can get instant access to our intermediaries team. We have launched this to make it even easier for brokers to work with us. All these moves support our goal of bringing more joy and less stress to the process of buying a home in the UK.”
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