Natwest Updates

Announcement

90% LTV Purchase Products Relaunch

In light of our improving service levels and to support our brokers and their customers, we are delighted to announce the re-introduction of 90% loan to value (LTV) Residential Purchase mortgages.

What you need to know

• The new 90% LTV products will apply to Residential Purchases but will not be available on new build properties.
• We will allow porting with additional borrowing up to 90% LTV for customers buying a new property.
• We are happy to accept applications where a customer is able to evidence that the first full scheduled monthly payment on their current mortgage and other financial commitments (loans, utilities etc) has been made having finished their payment holiday. Providing they meet all other our credit scoring  criteria.
• The guidance is effective from 16 December 2020 for all new qualifying mortgage applications received.

Important information

Prior to submitting any 90% LTV purchase applications with us it is important to note the following:

• Please check that your customers mortgage application meets the 90% LTV criteria before submitting, as a credit score will be generated, even if the case cannot proceed.
• If your customer already has a lower LTV application with us and wants to change to a 90% product, a new application will need to be submitted, resulting in another full underwrite and credit score.

Help us help you – Packaging

To ensure the application process is as seamless as possible and to help us maintain our service levels, please package cases in accordance with our current requirements.

For more information on what transactions are applicable for our 90% LTV products, please visit our A-Z of criteria page here, the information will be live from the 16^th December and will be found under ‘Maximum LTV’.