NatWest has stated that new and existing buy-to-let landlords will be able to apply for additional borrowing.
The bank said additional borrowing can be used for any legal purpose other than gambling; any form of business purpose (i.e. start up for a new business) and any form of unsecured debt consolidation.
These changes follow on from its launch of two new simplified indication calculators and a lower stress rate of 4.5% for five-year products and like-for-like remortgages.
Luke Christodoulides, head of corporate accounts at NatWet, said: “We’re pleased to further support the buy-to-let market and help customers with their additional borrowing needs.
“These changes follow on from the simplifications we made to our buy-to-let proposition earlier this year and shows our commitment to this important market sector.”
Original Article from Best Advice 12/12/21