Lending Criteria Guide | Mortgage Brokers | NatWest International


For Mortgage Brokers
Lending criteria guide

Our lending criteria is tailored for Mortgage Brokers with international customers. 

Further details about or lending criteria are available in our A-Z of lending criteria and Acceptable income types webpages.

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FOR MORTGAGE BROKERS REGULATED BY THE FINANCIAL CONDUCT AUTHORITY

Our lending criteria

Buy to Let mortgages
Lending criteria guide for our Buy to Let mortgages

Location of property
We can consider mortgages against property in England, Scotland and Wales.

 

If you require a mortgage against property in Jersey, Guernsey or the Isle of Man then please call us to discuss.

Maximum Loan to Value ratios

Capital and interest mortgage

  • Up to £1 million - up to 75%
  • Over £1 million - up to 70%

Where there is a mix of repayment interest only then the lower Interest Only maximum Loan to Value will apply.

Interest only mortgage

  • Up to £1 million - up to 70%
  • Over £1 million - up to 65%

Maximum Interest Only Loan to Value ratio is up to 65% for Non-Res Non-Dom customers (no right to reside).

New build criteria (for houses or flats)

Capital and interest mortgage

  • Up to £1 million - up to 65%
  • Over £1 million - Call us to discuss

Interest only mortgage

  • Up to £1 million - up to 65%
  • Over £1 million - Call us to discuss

Minimum loan size
£100,000 (£25,000 for Further Advances)

Maximum total borrowing
Limited to £3.5 million per customer connection

Term

Capital and interest mortgage

  • Minimum - 3 years
  • Maximum - 25 years

Interest only mortgage

  • Minimum - 3 years
  • Maximum - 20 years

When considering the suitability of the Term requested we will consider the expected working lifespan of the customers profession.

Repayment option
Capital and interest OR Interest only

Minimum income
£25,000 or £50,000 where borrowing is over £1 million

Age

  • Minimum - 18
  • Maximum - 70 at the end of the term or scheduled retirement age, whichever occurs first.

Other important information
The maximum number of Buy to Let properties a customer can own, whether mortgaged or unencumbered, is 10 properties.

A customer is deemed to be a Portfolio Landlord if they own (or will own) between 4 and 10 Buy to Let properties, whether mortgaged or unencumbered, including properties let out under a consent to let arrangement.

A rental assessment (Rental Valuation) is required on existing UK properties for all applicants.

We do not lend by way of Buy to Lets to Professional landlords. These are classed as customers who own (or will own) more than 10 properties, whether mortgaged or unencumbered.

A new build is defined as any property built, first occupied in its current state or significantly modernised, refurbished or altered within the last 2 years.

For Foreign nationals without UK residential qualifications we require a minimum 100% rental coverage assessed at our sensitized rate of interest pass affordability.

Buy to Live mortgages
Lending criteria guide for our Buy to Live mortgages

Location of property

We could help you purchase property in England, Scotland and Wales.

 

If you require a mortgage against property in Jersey, Guernsey or the Isle of Man then please call us to discuss.

Maximum Loan to Value ratios

Capital and interest mortgage

  • Up to £1 million - up to 80%
  • Up to £3 million - up to 75%
  • Over £3 million - Please call us to discuss

Interest only mortgage

Not provided.

New build criteria (applies to flats only)

Capital and interest mortgage

Subject to a Maximum Loan to Value 75%.

Interest only mortgage

Not provided.

Minimum loan size
£100,000 for new customers or £50,000 for existing customers subject to a minimum property value of £150,000 (at purchase).

Term (Capital and interest only)

  • Minimum - 3 years
  • Maximum - 30 years

No Interest only option available.

 

When considering the suitability of the Term requested we will consider the expected working lifespan of the customers profession.

Repayment option
Capital and interest only.

Minimum income
Not applicable.

Age

  • Minimum - 18
  • Maximum - 70 at the end of the term or scheduled retirement age, whichever occurs first

Other important information
Maximum Loan to Income (LTI) for Buy to Live mortgages over £500,000 is 4x income. Please call us to discuss if you require to exceed the income multiplier.

A new build is defined as any property built, first occupied in its current state or significantly modernised, refurbished or altered within the last 2 years.

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