NatWest to no longer use assumed letting agent costs
NatWest Intermediary Solutions has begun using actual rather than assumed letting agent costs for its buy-to-let calculator.
Instead of assuming letting agent costs for higher rate taxpayers, NatWest will collate a clearer picture of a customer’s expenditure and ensure they are not impacting those who are not paying letting agents’ fees.
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 customers true costs.”
The simplified calculator will have up to two more additional questions.
NatWest has said it will still enable small landlords with three or less mortgaged properties, as well as portfolio landlords remortgaging with no additional borrowing, to quickly and easily understand how much they can borrow.