The Times - Mortgage watch
NatWest has lowered its mortgage income multiples from 4.75 times salary to 4.45.
Aaron Strutt, at mortgage broker Trinity Financial, told The Times: “Every reduction means borrowers have to stump up more cash to put towards their mortgage. NatWest already caps mortgages over £500,000 to four times both single and joint salaries.
“There is always the danger other lenders will lower their multiples after one of the big banks makes a change, especially if they start receiving more applications.”
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