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 5.5x salary for single applicants earning over £75,000 or joint applicants earning over £100,000 combined. Applicants will need a 25% deposit to qualify.
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. It will also want to know if you expect your financial circumstances to change over the coming years.
NatWest has also increased its maximum mortgage loan sizes for most borrowers.
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Loan-to-value and maximum loan amounts |
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|
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 |
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The information contained within was correct at the time of publication but is subject to change
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