Natwest changes portfolio buy-to-let rules

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Natwest changes portfolio buy-to-let rules

Natwest has introduced changes to its buy-to-let policy, increasing the number of properties a portfolio landlord can have from four to 10.

The lender is also increasing the maximum borrowing allowed from £2m to £3.5m, and will remove the £50,000 minimum income requirement for aggregated borrowing of more than £1m.

Sarah Taylor, service development manager at NatWest Intermediary Solutions, said: "This important step will simplify our buy-to-let policies and means we can be there for a wider customer range in what is a growing market."

Many lenders pulled out of the portfolio landlords market, or scaled back their offering following new Prudential Regulation Authority guidelines that came into force in September.

Ray Boulger, senior technical manager at mortgage broker John Charcol, said the change was "quite a useful increase".

He said: "It will give portfolio clients an extra lender to choose from.

"NatWest is sending a message that it is now more comfortable with portfolio landlords."