What’s Happening

Individuals across the UK are being impacted by COVID-19 and this has had knock-on impacts across many industries. Many customers could face an impact on their employed income on either a permanent or temporary basis.

At this time, our primary purpose remains to ensure that any mortgage we provide to our customers is affordable.

What you need to know

With immediate effect, we are making some changes to our guidance on assessing and treating employed income. This applies to both new and existing residential and Buy to Let customers, where affordability assessments would be completed.

These changes also apply to applications that have been previously submitted both pre and post offer.  Please notify us of any material change of the customer’s circumstances in order for us to reassess affordability.

Customer Scenarios

  • Customers who have not and do not expect to experience a change in their employed  income
    • Treat in line with our current policies and processes
  • Customers who have or expect to have a reduction in their employed income
    • If the customer can provide evidence of their revised income, this revised figure will be used when assessing affordability.
    • If the customer cannot  provide evidence of their revised income, we will be unable to help until they are able to provide evidence
  • Customers who are no longer receiving employed income or have been told by their employer that their employed income will not continue, AND it is not being replaced by the government scheme (Coronavirus Job Retention Scheme)
    • Please explain that we will be unable to help with a mortgage application at this time

The government scheme (Coronavirus Job Retention Scheme) is an income type that we will accept and Credit Policy will be updated accordingly.

Should you have any further questions in relation to either the above or any other aspect of our criteria, policy or service  please visit www.intermediary.natwest.com/

NatWest to withdraw high LTV Residential products for New Business customers

Here’s a full list the changes with product codes in brackets:

New Business

Core Range

Residential

Withdrawals

2 year fixed rate purchase

  • [FO21887] 85% LTV, 3.03%, product fee £0
  • [FO21798] 85% LTV, 1.63%, product fee £995, £250 cashback
  • [FO21696] 85% LTV, 2.65%, product fee £0, £250 cashback
  • [FO21700] 90% LTV, 2.91%, product fee £0, £250 cashback
  • [FO21888] 90% LTV, 3.07%, product fee £0
  • [FO21799] 90% LTV, 1.84%, product fee £995, £250 cashback
  • [FO21889] 95% LTV, 3.08%, product fee £0, £250 cashback

2 year fixed rate remortgage

  • [FO21693] 85% LTV, 2.98%, product fee £0
  • [FO21795] 85% LTV, 1.76%, product fee £995, £250 cashback
  • [FO21802] 90% LTV, 3.08%, product fee £0
  • [FO21796] 90% LTV, 2.02%, product fee £995, £250 cashback

5 year fixed rate purchase

  • [FO21898] 85% LTV, 3.50%, product fee £0
  • [FO21702] 85% LTV, 3.50%, product fee £0, £250 cashback
  • [FO21659] 85% LTV, 1.93%, product fee £995, £250 cashback
  • [FO21694] 90% LTV, 3.57%, product fee £0
  • [FO21660] 90% LTV, 2.23%, product fee £995, £250 cashback
  • [FO21703] 90% LTV, 3.57%, product fee £0, £250 cashback
  • [FO21790] 95% LTV, 3.58%, product fee £0, £250 cashback

5 year fixed rate remortgage

  • [FO21692] 85% LTV, 3.38%, product fee £0
  • [FO21663] 85% LTV, 1.99%, product fee £995, £250 cashback
  • [FO21691] 90% LTV, 3.74%, product fee £0
  • [FO21664] 90% LTV, 2.28%, product fee £995, £250 cashback

Exclusive

Residential

Withdrawals

2 year fixed rate purchase

  • [FO21713] 85% LTV, 1.64%, product fee £995, £250 cashback
  • [FO21847] 85% LTV, 2.07%, product fee £0, £250 cashback
  • [FO21690] 90% LTV, 2.28%, product fee £0, £250 cashback
  • [FO21825] 90% LTV, 1.80%, product fee £995
  • [FO21871] 95% LTV, 2.98%, product fee £0, £500 cashback

2 year fixed rate remortgage

  • [FO21726] 85% LTV, 1.65%, product fee £995, £250 cashback
  • [FO21858] 85% LTV, 2.06%, product fee £0, £250 cashback
  • [FO21785] 90% LTV, 2.12%, product fee £0
  • [FO21784] 90% LTV, 1.89%, product fee £995, £250 cashback

5 year fixed rate purchase

  • [FO21724] 85% LTV, 2.51%, product fee £0, £500 cashback
  • [FO21667] 85% LTV, 1.91%, product fee £995
  • [FO21833] 85% LTV, 2.51%, product fee £0, £750 cashback
  • [FO21668] 90% LTV, 2.23%, product fee £995
  • [FO21746] 90% LTV, 2.69%, product fee £0, £750 cashback
  • [FO21725] 90% LTV, 2.58%, product fee £0, £500 cashback
  • [FO21669] 95% LTV, 2.99%, product fee £0, £250 cashback

5 year fixed rate remortgage

  • [FO21743] 85% LTV, 2.39%, product fee £0, £500 cashback
  • [FO21672] 85% LTV, 1.92%, product fee £995
  • [FO21838] 90% LTV, 2.24%, product fee £995
  • [FO21744] 90% LTV, 2.75%, product fee £0, £500 cashback

Existing Customer

No Changes

End dates

There are no changes to end dates

For a complete listing of all our mortgage products, please visit the product page on our web site.