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Royal Bank of Scotland International Limited - Guernsey Branch

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Mortgage applications must be submitted in a specific way with certain supporting documents. Find the list of packaging requirements here. NatWest Intermediary Solutions is our dedicated intermediary mortgage business. We specialise in offering a range of products for mortgage brokers to recommend to NatWest Intermediary Solutions Certification of supporting documentation for a mortgage application To be used to certify supporting documents with multiple pages.

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Customers can continue to remortgage to older self build properties. Self-employed applicants are able to complete their tax self-assessments online. Copies of online submissions are acceptable provided:. We lend on the Government-backed shared equity schemes. We do not currently offer a shared equity scheme remortgage product. The following eligibility criteria apply:. Feuhold, Freehold, Leasehold and Sub-Leasehold. Minimum term is 3 years. The following forms of income are classed as unacceptable for a mortgage application: This will enable the underwriting and valuation processes to run in parallel, reducing the time a customer has to wait for an offer.

We will provide customers with a full refund if their applications are declined on the grounds of affordability or credit scoring or where we cannot lend the full amount requested due to affordability issues.

The applicant may need to pay for a valuation report. Where a fee is payable, it is based on the purchase price, or estimated value of the property. This includes a free valuation and legals for a standard remortgage.

There may be instances where a customer may not qualify for this. A valuation will always be obtained using a panel surveyor instructed by us RBS Group. The customer may need to pay for a valuation report or a more detailed survey. This fee is based on the purchase price, or estimated value of the property.

The following tables give a guide fees are applicable from 16 Jan This fee is paid when the mortgage is arranged and is refundable until completion. Once your client's mortgage is set up, they may need to pay one-off fees for other services.

These include changing the date of direct debit collection, duplicate statements, adding or removing someone from their title deeds. If you'd like a copy of the individual fees and charges leaflet, contact us. This no longer applies.

Please note that if your customer is heavily reliant on these benefits the ratio of benefits to main income then please discuss this with your BDM and be aware that the final decision remains with the underwriter. The age of an applicant's children may be a factor so we recommend sending in the awards letter with the application packaging.

Jump to Accessibility Jump to Content Close EU Cookies-- NatWest We use cookies and similar technologies on our websites and mobile applications to help provide you with the best possible online experience. Only for use by mortgage intermediaries. A-Z of lending criteria.

Age requirements Applicants must be at least 18 years old at the time of application. Debts being repaid are not included in the calculation. Pension and childcare costs are not included in the calculation childcare costs are included in lifestyle expenses. Maximum age for lending is 70, subject to affordability, if lending is beyond the intended retirement age.

Loans with less than six months to run are not included. Assumes values for expenditure for basic essentials and quality living costs. Agricultural restriction The only acceptable agricultural tie is where the applicant must be employed in an agriculture related job and the primary source of income must not be related to the secured property. Adverse credit We consult credit reference agencies to look at credit and bank account conduct.

Applicants number of The maximum number of applicants is two. Armed Forces personnel Unsecured personal loans are only acceptable for Armed Forces personnel who are eligible for a Forces Help to Buy FHTB loan which is an interest-free loan repayable over 10 years: The FHTB loan may not be used for the purchase of a second property, including a buy-to-let property.

Back to back Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months. The lending would be restricted to the lower of the original purchase price or valuation. The previous property has now been sold and the applicants are looking for a mortgage on the new property with funds to be used to repay the bridging loan.

Buy to let applications are not acceptable in this situation. We will also consider lending where our customer wishes to purchase the property from a vendor who recently inherited the property. Proof of the rate roll off has to be obtained e.

This does not include repossessed properties being purchased cheaply at auction and then sold on by a third party. British National working overseas Applicants must be resident in the UK. Purchasing new investment properties. Equity release from unencumbered investment properties. The ratio of the expected monthly rental income from the Buy to Let property to the monthly mortgage interest payment which takes into account likely future interest rate increases.

We will top-slice if there is a rental shortfall, taking into account any free personal income the applicant may have. In all cases, expected rent must continue to meet a minimum rental cover calculation of 5. This ICR criteria applies only to the new property being mortgaged. We will instruct an independent valuer to validate the gross rental income and rental demand of these properties.

Customers will not be charged for the additional valuations on their existing buy-to-let and rented properties. The property must be a residential property owned by the applicant s and not for their own use at any time. Applicants must be resident in the UK at the time of application.

Business partnerships and limited companies are not accepted, although NatWest Business Banking may be able to assist. The maximum number of rented properties an applicant can have is ten, including the property being mortgaged. We cannot accept applications for regulated buy-to-let mortgages where the occupants are immediate family members of the mortgage holder. Carer's Allowance Carer's Allowance is paid to people aged 16 or over spending at least 35 hours per week caring for someone with substantial caring needs.

Childcare costs We use the actual amount the customer has declared they pay in our affordability calculations for this commitment. The highest figure should be used over the 5 year period. In some circumstances childcare costs may be unknown, for example if the customer is currently pregnant, on maternity leave or if childcare arrangements are yet to be made.

Customers can suggest likely future costs or you can refer to the national average figures here figures correct as at August When should childcare costs not be included?

Where customers are using free childcare e. Where the childcare costs are stopping within the next 6 months. Committed expenditure What to capture in other committed expenditure this list is not exhaustive: Long term care for elderly dependents.

Nursery and childcare costs Consent to let The bank may be prepared to allow residential mortgage customers to rent out their current or a newly purchased property as a buy-to-let property under a consent-to-let arrangement under the following circumstances this is not an exhaustive list: Customer is unable to sell their existing home before buying a new property.

Customer is currently in or moving to tied accommodation linked to their employment e. The customer may not take occupation of the property until their current employment ceases which may be many years in the future. Customer is a member of the Armed Forces currently serving elsewhere in the UK or overseas and property has previously been used as or is intended to be their main residence in the future.

Consumer buy-to-let Consumer buy-to-let is a type of regulated business introduced by the MCD to provide enhanced protections where buy-to-let customers are not acting for business purposes. We do not offer consumer buy-to-let mortgages.

Contractors For PAYE contract workers, we require one year's evidence for example, two six-month contracts or four three-month contracts and a contract in place for minimum of a further three to six months.

There is some additional information that you need to be aware of when submitting an application for a customer who meets these criteria: Operating via a limited company. The applicant s must meet one of the following circumstances: Significant business expenses as detailed below, must be fully understood, evidenced and accounted for in the affordability calculation.

Significant business expenses may be, though not limited to: Under these circumstances we would consider an application under our standard self-employed policy. Credit scoring Credit scoring is a statistical tool used to assess an applicant for credit facilities and ranks applicants by probability of default. Information supplied as part of the application process.

Internal data relating to existing account s with the group. Diplomatic immunity We cannot lend to anybody working in the UK who has or may have diplomatic immunity under the Geneva Convention or inter-government treaties. Existing customers Broker services are in place to assist existing customers in the following circumstances: Family purchase See 'discounted purchase'. Fees and charges Product fee: Occupier's consent form fee: If the property is in England or Wales these people will need to sign a consent form and receive independent legal advice prior to completion, for which they are likely to be charged a fee.

Adding fees to the loan: Foreign currency income Where all or part of an applicant's income used to make the mortgage repayments is paid to them in a foreign currency, the MCD requires advisers to provide additional point of sale risk disclosures.

Guarantors We do not currently support mortgages backed by a guarantor. H Help to buy. Property must be in England. Need to apply for eligibility through a HomeBuy Agent in region of desired property. Identification As part of the scoring process, we will attempt to electronically verify and validate the identity of an applicant.

Interest only In addition to standard mortgage criteria the following also applies for Interest only mortgages: Both new and existing customers may apply. Age range of Available for purchase including first time buyer , re-mortgage, additional borrowing and porting.

Japanese knotweed The valuer will asses each case on an individual basis taking into account factors such as marketability, mortgageabilty and insurability. Leasehold We require a minimum of 30 years to be remaining on the lease at the end of the mortgage term. Applicants need a letter from a local ARLA-registered letting agent or estate agent to show the expected rental income.

If there is a shortfall in rent then this must be disclosed as a monthly commitment on the affordability calculator.

If either of the mortgages is with another lender, the LTV of the mortgage with NatWest cannot be higher than the one with the other lender.

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