NatWest offering 5.5 times salary mortgages to employed and self-employed borrowers
NatWest for Intermediaries is the latest lender to start offering 5.5-times-salary mortgages for higher-earning employed and self-employed borrowers.
The bank has increased its maximum income multiple from five to 5.5 times the salary for single applicants earning over £75,000 and joint applicants earning over £100,000 combined. Applicants will need a 10% deposit to qualify.
NatWest's enhanced income multiple of 5 times salary will automatically be applied to those customers who meet the required credit score. They also need annual income above £40,000-£74,999 for sole applicants and between £40,000-£99,999 for joint applicants and for lending up to 90% loan-to-value.
How will NatWest work out how much you can borrow?
Trinity Financial's brokers use NatWest's mortgage affordability calculators to determine how much you can borrow. The bank will want to know your income, credit commitments like credit cards and loans, and how many children you have. The lender will also want to know if you expect your financial circumstances to change over the coming years.
Customers who receive a strong credit score in their Agreement in Principle/Full Mortgage Application assessment may receive an enhanced loan-to-income ratio and, therefore, may be able to borrow more.
|
Loan-to-value and maximum loan amounts |
|||
|
New NatWest customer capital repayment loan-to-value |
New NatWest customer capital repayment maximum loan size |
New NatWest customer interest only loan-to-value |
New NatWest customer interest only maximum loan |
|
60% |
No maximum |
60% |
No maximum |
|
75% |
Less than or equal to £7.5m |
75% |
Less than or equal to £7.5m |
|
80% |
Less than or equal to £2.55m |
80% |
N/A |
|
85% |
Less than or equal to £2.55m |
85% |
N/A |
|
90% |
Less than or equal to £750,000 |
90% |
N/A |
|
95% |
Less than or equal to £570,000 |
95% |
N/A |
|
Source: NatWest for Intermediaries |
|||
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation
The information contained within was correct at the time of publication but is subject to change
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
