NatWest Intermediary Solutions is making a number of changes to loan to value limits.
From 16 February, it is reintroducing a number of its higher LTV products. The maximum LTV for residential new build houses will be increased from 80% to 85% (flats remain at 75% LTV).
Meanwhile, the lender is introducing four new 90% LTV residential remortgage products. For customers looking to remortgages on a like for like basis only (additional borrowing remains at 80%).
In addition, transfer of titles will be increased to 90% and 95% on a like for like basis.
Its previous guidance related to payment holidays applies. It will accept applications where a customer is able to evidence that the first full scheduled monthly payment has been made having finished their payment holiday.
These changes are effective from 16 February for all new qualifying mortgage applications received.
Alongside the re-introduction of high LTV products, NatWest is also implementing a number of rate reductions for new business customers:
- Purchase: Rate reductions of up to 13bps and 23bps on selected 2 and 5 year deals respectively.
- Green Mortgages Rate reduction of 12bps and 5bps on 75% LTV 2 and 5 year deals respectively.