NatWest accepts selective licence BTL applicants

Mortgage Introducer

July 13, 2015

It will consider applicants providing the valuer doesn’t flag up any issues.

In areas with selective licencing schemes landlords have to apply for a licence to let out their property.

Paul Kane, acting head of sales at NatWest Intermediary Solutions, said: “Selective licensing has been an issue for brokers in specific parts of the country where they have been introduced by local authorities.

“With the expectation that the number of schemes will increase over the coming months and years, I am pleased that we are now able to accept applications from buy-to-let investors who want to buy a property in an area where they require a selective licence.

“The mortgage marketplace is currently a very dynamic one thanks to the buoyancy of the sector. Having reviewed our portfolio, we are making rate changes to maintain the correct balance of business we receive.”

The lender has also increased its lower loan-to-value residential rates by between 0.04% and 0.12%.

Its fee free 2-year fixes have been raised to 2.34% to 60% LTV, 2.39% to 70% LTV and 2.51% to 75% LTV.

On 5-year fixes its 60% LTV product has been raised to 2.23% with a £995 product fee, while the no fee equivalent product now stands at 2.90%.

NatWest’s 2-year trackers with no fee have been raised to 2.24% to 60% LTV, 2.29% to 70% LTV and 2.41% to 75% LTV.

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