RBS introduces cap on buy to let mortgages
The change to came into effect today, accross all RBS/NatWest channels on mortgages direct from the lender and via intermediaries.
The lender said: “As a responsible lender, we place a strong focus on affordability and measures to safeguard its customers. This change of policy is being introduced to create greater consistency between buy-to-let and residential lending policy.”
The maximum LTV for buy-to-let mortgages remains at 75% as does the maximum loan size of £500,000. All other remaining criteria remains unchanged.