NatWest removes assumed costs from BTL calculator

NatWest Intermediary Solutions has updated its buy-to-let calculator to use actual rather than assumed letting agent costs.

Related topics:  Mortgages   |   Rozi Jones
|
4th September 2019
natwest bank
"These changes... will ensure that as a responsible lender we guarantee that our lend amount reflects the customer's true costs."

NatWest is no longer assuming letting agent costs for higher rate tax payers, enabling it to collate a clearer picture of a customer’s expenditure and ensure they are not impacting those who are not paying letting agents fees.

The simplified calculator will therefore have up to two additional questions but will still enable small landlords with three or less mortgaged properties, as well as portfolio landlords mortgaging with no additional borrowing, to quickly and easily understand how much they can borrow.

Mark Bullard, head of sales at NatWest, said: “These changes further demonstrate our commitment to improving our buy-to-let proposition for brokers and customers and will ensure that as a responsible lender we guarantee that our lend amount reflects the customer's true costs.”

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