NatWest is implementing a number of changes designed to simplify and improve its buy-to-let proposition.

The bank is changing the way it assesses affordability and how much a customer can borrow, and also making it easier for a buy-to-let re-mortgage customer to make a like for like application with NatWest.

These changes include:

• Two new simplified indication calculators:  One for ‘small landlords and like-for-like remortgages’, the other for ‘portfolio landlords and first-time buyer buy-to-lets’.
• Lower stress rate of 4.5% for five-year products and like-for-like remortgages – With two maximum lend options shown on calculator.
• For small landlords and like-for-like applications, brokers select a client’s tax band for assessment, no proof of income is required on submission and the application will proceed through a reduced underwriting process.
• Removal of Loan-to-Income (LTI) cap for small landlord and like-for-like applications, meaning the maximum lend will be based on the subject property’s rental and the clients tax band.

Luke Christodoulides, head of corporate accounts at NatWest Intermediary Solutions, said: “We have been working hard to simplify our buy-to-let approach and have listened to feedback from brokers and our staff on where we could improve.

“I’m delighted we’re making these improvements to our proposition and believe this underlines our support to the buy-to-let market.”