09 August 2017
NatWest Intermediary Solutions has confirmed that it will continue to support portfolio landlords following the changes in regulation that are being introduced in September. The lender will be introducing a number of changes to how it assesses portfolio landlords from 11 September and has developed its online buy-to-let calculator to make it easier for brokers to assess a customer’s affordability in the light of these changes.
NatWest will also introduce several other enhancements to its buy-to-let proposition later in the year.
Here’s a summary of the changes being introduced from 11 September:
Here is a summary of the changes being made in Q4:
Graham Felstead, Head of Intermediary Mortgages, NatWest Intermediary Solutions, said, “The buy-to-let market continues to be important for customers and brokers and it’s one that we will continue to support. The new PRA requirements have given us the opportunity to review our whole approach to the buy-to-let sector and I am delighted that we will continue to lend to both non-portfolio and portfolio landlords with an enhanced proposition for intermediaries and their customers.
“With any change comes an element of uncertainty, but by making our intentions clear now and developing our calculator we hope that brokers and their customers can be reassured that they will be able to count on NatWest as one of their key lenders in this market. We will communicate clearly with intermediaries over the coming weeks about what changes they need to make and what we will be doing differently so that we can have a smooth transition come 11 September when these changes are implemented.”
We have updated this information and all other recent activity from lenders around the PRA changes on our Matrix which can be viewed here.