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RBS introduces cap on buy to let mortgages

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Written by: Your Mortgage
14/07/2014
The Royal Bank of Scotland has introduced a 4.99 times loan-to-income cap per application for all buy-to-let business.

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.

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