Up to £500,000 85% LTV (Rmg 85%)

Mortgage is Portable

If you move house you can transfer this mortgage to another property subject to the following terms and conditions.

Where an early repayment charge (including repayment of a cashback) becomes payable because you are paying off the mortgage in full, we will refund all or part of the charge if;

(a) you complete a new mortgage on a different property with us at the same time as you pay off this mortgage, or within three months of the date when you do so, and

(b) the new mortgage is on the same terms as your present mortgage (ignoring any difference in the amount lent under the new mortgage).

We will refund the early repayment charge in full if the new mortgage is on the same terms as this mortgage and is for the same amount or more than the amount required to redeem this mortgage.

If the amount we lend you under the new mortgage with us is less than the amount needed to redeem this mortgage, we will refund that part of the early repayment charge which would have been payable on the amount replaced by the new mortgage.

BTL products cannot be combined with a non BTL rate.

This product is available for personal customers (employed or self employed), including professional landlords purchasing property in their personal name.

Not available to partnerships or companies.

Once NatWest has received your application NatWest will reserve the

mortgage rate. If you withdraw your application, or do not accept an

offer after committing yourself to the mortgage - either by sending in

the application form to NatWest or allowing a valuation to be carried

out, NatWest will collect the arrangement fee (NatWest will not collect

this if your application is declined or if the deal is no longer

available.)

The lender will calculate an applicants rental income cover based upon the applicants income level:

Up to £30,000 - 125% at Base Rate + 0.75%

£30,000 to £74,999 - 110% at Base Rate + 0.75%

£75,000 and over - 100% at Base Rate + 0.75%

Using the above rental cover tiers, your clients can now meet our 125% rental cover requirement through a combination of rental and free personal income.

Fast track is available for applications up to and including 75% LTV AND for

maximum loan of £500,000 AND where the customer is a UK resident and a UK national.

Brokers have the option to carry out their own verification and

certification of clients' proof of identity and proof of address

documentation providing this meets the standard evidence set out within the

guidance for the UK Financial Sector issued by the Joint Money Laundering

Steering Group (JMLSG).

Please refer to the application tab notes for application packaging requirements.

Please refer to Lender to check product availability

All loans arranged on interest only must have a suitable plan in place to repay the capital by the end of the term. We do insist that the investment plan covers the full interest only amount and is identified on the application form. For applications in excess of £1m evidence of repayment vehicle will be required.

The maximum loan amount for Professionals only over 90% LTV is £250k.

Guarantor mortgages are available subject to the following conditions: no Higher Lending Charge fee; guarantee for only 30% of the loan is required.

Product is not CAT standard.

As your Mortgage is on a fixed or discount rate, if you choose to make an overpayment on this mortgage you will be liable to an early repayment charge. The amount of this charge will be based on the calculation method detailed in Section 10 of this illustration and the amount of the overpayment.

You benefit immediately from overpaying directly to your mortgage.

If you make an overpayment or lump sum payment then the amount you owe, and so the amount of interest you pay, is reduced immediately. This provides you with the benefit immediately.

Overpayment allowed up to 10% of balance outstanding per annum.

This mortgage includes a facility for additional secured borrowing. You can apply for extra borrowing at any time. Please see the product literature for details.

THIS WILL INCREASE THE AMOUNT OF BORROWING SECURED ON YOUR HOME.

Buy to Let : Accepted, Max properties 10

Capital Rest Period : Daily

Repayment Yes

Endowment Yes

PEP Yes

Pension Yes

Interest only (no RV) Yes

With Profits No

Unit Linked Yes

ISA Yes

Split Repayment Yes

Arrangement : £1999 Can be Added

Booking : None

5% of loan to be paid until 30/04/2009, Then 4% of loan to be paid until 30/04/2010, Then 3% of loan to be paid until 30/04/2011, Then 2% of loan to be paid until 30/04/2012, Then 1% of loan to be paid until 30/04/2013, 10% capital repayments allowed per year without penalty

None

Basic:

upto £100,000 - £140

upto £250,000 - £200

upto £500,000 - £320

upto £750,000 - £540

upto £1,000,000 - £670

upto £1,500,000 - £950

upto £2,000,000 - £1400

Homebuyers:

upto £100,000 - £280

upto £250,000 - £400

upto £500,000 - £590

upto £750,000 - £820

upto £1,000,000 - £990

upto £1,500,000 - £1400

upto £2,000,000 - £2350

Special:

upto £100,000 - £560

upto £250,000 - £705

upto £500,000 - £880

upto £750,000 - £1230

upto £1,000,000 - £1525

upto £1,500,000 - £2350

upto £2,000,000 - £3525

Min Valuation £50000

Legal Fees and Survey Fees can be added to the loan subject to the max LTV.

For properties valued over £500k please refer to Lender for the valuation fee.

No proc fees will be paid on loan sizes less than £25k.

For new build property purchases, the lender will require a valuation to be undertaken by one of our panel valuers.  If the property has not been completed,  the valuation may be completed on the plans, the plot or the partially built property;  in such cases the lender will require the solicitors instructions to include a completion / habitation certificate to be in place when requesting the funds.

Higher Lending Charges are calculated on the difference between 75% of the value of your home and the amount you wish to borrow. Added fees will not be included in this calculation.

Lender Conveyancing Fee - £117.50 Payable on completion. The Lender Conveyancing Fee is the cost of legal work carried out for us as the lender and not the overall solicitor's fees for the whole transaction. The figure shown here is an estimate based on the average fee charged. Please check the actual charges with your chosen solicitor as they may vary depending on the property.

Remittance Fee - £30.00 Payable on completion. This is an administration fee when the loan proceeds are issued to the solicitor and is deducted from the amount sent.

Valuation Admin Fee - £75.00 Payable upfront.

Chaps Fee - £30.00 Payable upfront. This is an administration fee when the loan proceeds are issued to the solicitor and is deducted from the amount sent.

Freehold Flat Yes

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Refer

Maisonette Refer

Studio Flat Yes

Flying Freehold Yes

Thatched Refer

Timber Framed Yes

Concrete Yes

Agricultural Tie Yes

Flat Over 4 Storeys Yes

Listed Building Refer

Not Accepted

New Build acceptable. NatWest will allow landlords with more than 10 investment properties to apply for a NatWest Buy to Let mortgage.

Applicants can have mortgages on up to ten properties with NatWest (maximum total borrowing of £3.5m per customer, maximum loan £500,000 per property)

Maximum LTV for the purchase of a new build flat in 75% of purchase price or valuation, whichever is lower.

Freehold flats and flying freehold are restricted to 95% LTV.

Vendor deposits not accepted, builder deposits maximum 5%

For new build property purchases, the lender will require a valuation to be undertaken by one of our panel valuers.  If the property has not been completed, the valuation may be completed on the plans, the plot or the partially built property;  in such cases the lender will require the solicitors instructions to include a completion / habitation certificate to be in place when requesting the funds.

Accepted Locations : England, Scotland, Wales

Bank Statements 3 months

At Least 3 Months Pay Slips No

P60 No

Proof Of Residency Yes

Life Policy To Be Assigned Refer

Previous Lender References No

Buildings Conditional

Min Loan £15,000/Rmg £15,000

Max Loan £500,000/Rmg £500,000

Max Portfolio of BTL Loans £2,500,000

Min Age 18 years

Max Age 70 years

Min Term 3 years

Max Term 35 years

Foreign Citizens Accepted

Ex-Patriates Accepted

Based on Income > 0

Refer to rental income calculations

Min months in current position 1

Min months in continuous service 6

Min no. of years accounts 2

Average years taken to calculate income 2

Will consider declining profit No

BTL income criteria is 125% of interest only payment based on an interest rate of BBR+0.75%

Personal income cannot be used to subsidise rental shortfalls on properties 6-10 (Therefore 125% rental cover must be met using rental income alone)

The lender will assess all applications on an affordability basis.

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft Refer to lender

Credit/Store Cards Taken into account

Child Maintenance Taken into account

Child Education NOT Taken into account

Extra Income:-

Other Income - Guaranteed Add 100% to income before multiply

Other Income - Regular Add 100% to income before multiply

Other Income - Irregular No

Investment Income No

Mortgage Subsidy Add 100% to income before multiply

Large Town Allowance Add 100% to income before multiply

Maintenance Payments Add 100% to income before multiply

Non Contributory Pension No

Car Allowance Add 100% to income before multiply

Capital Raising Not accepted

Home Improvements 85%

Debt Consolidation Not accepted

School Fees 85%

Holidays/Cars Not accepted

Buy Other Property Not accepted

Business Purposes Not accepted

Divorce Settlement Not accepted

Unencumbered 85%

CCJs : Refer to lender

Defaults : Refer to lender

Arrears : Refer to lender

Bankrupt : Refer to lender , min months Discharged 36

Current IVA : Not Acceptable

Repossession : Not Acceptable

Refer to lender

- The Lender will consider customers with previous or existing adverse credit in a flexible manner and every case will be assessed on its individual merits, along with the customer's ability to keep up repayments on the mortgage, taking into account his/her existing liabilities.

- The Lender will consider cases of financial difficulty and mortgage arrears sympathetically.

- The Lender will follow the general principles of the Council of Mortgage Lenders' Statement of Practice on Handling Arrears and Possessions, including :

a) with your co-operation, developing a plan with you for dealing with your financial difficulties and clearing the arrears, consistent with both your interests and those of the Lender.

b) possession of your property will be sought only as a last resort when attempts to reach alternative arrangements with you have been unsuccessful.