NatWest offering more generous mortgage loan sizes

by Aaron Strutt

Nov 26 2015

NatWest Intermediary Solutions has reversed a recent policy change and raised its mortgage income multiples for new customers.

If applicants have a 25% deposit, the policy changes will allow them to borrow a maximum of 4.85 times salary. This is up from 4.45 times salary.

For those with a deposit between 15% and 25.01%, the maximum mortgage multiple has been increased from 4.45 to 4.75 times income.

Halifax has also made changes to its affordability calculations, amending its maximum multiples from five times single and 4.5 times joint, to a flat rate of 4.75 times both single and joint incomes.

For mortgages over £500,000 the income multiple caps will remain at four times salary.

Some of the lenders have been battling to hit the Financial Policy Committee's lending cap. It was designed to ensure they cannot provide more than 15% of total new residential mortgages at loan-to-income ratios at or greater than 4.5 times salary.

For help to secure a mortgage, call Trinity on 020 7016 0790.