NatWest Intermediary Solutions is increasing its maximum loan to value (LTV) for remortgage applications with additional borrowing (excluding unsecured debt consolidation).
It is returning its maximum LTV back to 90%, up from 80%.
If any element of the loan request is to consolidate debts, then the maximum LTV remains at 80%.
Secured borrowing/second charges (including shared equity and ownership staircasing requests) are not considered as debt consolidation, and can be offered up to 90% LTV.
If, following the property valuation the LTV exceeds 80% and debt consolidation has been requested, the loan amount will need to be reduced to return below 80% LTV
If any element of the remortgage is for debt consolidation, the maximum LTV remains at 80%.
Luke Christodoulides, Head of corporate accounts, said: “We are consistently reviewing our proposition at NatWest Intermediary Solutions to ensure we can support a wide variety of customer types. This move highlights our support for the higher LTV market, and we’ll continue to demonstrate this support in the near future.”
Original Article from Best Advice 26/05/2021