NatWest announces a reduction in accepted loan to income ratios.
One of the UK's largest mortgage lenders has just announced that it has adjusted its ratio for loan to income on mortgage applications. NatWest’s LTI has been lowered from 4.75 to 4.45 for borrowers with a deposit of between 15 and 25%. The income multiple remains the same whether the application made is single or joint.
It’s predicted that it will only be a matter of time before other lenders follow suit and lower their LTI ratios too.
Rules surrounding LTI ratios were created to ensure that borrowers are able to repay their loan, and to ensure that lenders are not overexposed should there be a shift in the market or should interest rates rise.
As other lenders may soon follow NatWest’ lead, the advice is to act and get yourself a mortgage sooner rather than later.
If you would like advice and a low rate quote, call one of our advisers at Deal Direct on 0800 048 8828.
We are whole-of-market, and will search through every lenders range to ensure you end up with the most competitive offer for your deposit/equity level.
Our advisers are available 24/7 to take your call, and so pick up the phone today.
For advice and a low rate mortgage speak to us on 0800 048 8828.
