NatWest for Intermediaries has released a product update. For their latest products visit the product page on their website or the news section of their intermediary website. A summary of the changes is below. Contact us for more information.
ONLY FOR USE BY MORTGAGE INTERMEDIARIES
Changes to our Buy to Let stress rates
Effective immediately, we’ve changed our Buy to Let stress rates as follows:
- 2 year fixed: decrease from 6.92% to 6.79%.
- 5 year fixed: decrease from 6.5% to 6%.
- Like for like remortgage: decrease from 6.5% to 6%.
Our Buy to Let Hub has been updated to reflect this.
Transitional Arrangements
Any Decision in Principles (DIP) or Full Mortgage Application submitted before 2 nd May will have the previous values applied, as they were at the original submission. For example, a DIP completed before 2 nd May on a Buy to Let 5 year product will have the 6.5% stress rate, with the new stress rate of 6% being used from 2 nd May onwards.