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Natwest put a cap on HTB Equity Loan
Comments
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Baffled by your post Giddykipher.
Nat West will allow a deposit between 5% and 20% of the purchase price on H2B EL. No problem.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
You could always try another lender or look to make an overpayment as soon as you take out the mortgage if you weren't planning on this anyway which based on affordability comments above you possibly didn't plan to.0
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Thrugelmir wrote: »LTV as far as the lender is concerned is still 85%. Affordability rules are aren't changed.
This isn't correct, the lender will class this as 65% LTV. To my knowledge NatWest's rule is that you cannot go below 60% LTV on HTB EL.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
This isn't correct, the lender will class this as 65% LTV. To my knowledge NatWest's rule is that you cannot go below 60% LTV on HTB EL.
Highly possible that is where the misunderstanding originates from. I still return to the affordability criteria that the lender will use (albeit internally) when considering the mortgage application.0
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