The bank has also reduced the packaging requirements for these landlords, with underwriters no longer required to validate personal income or commitments. Instead, brokers will handle income validation and retain the documentation, aligning with the process for small landlords.

Another notable update is the introduction of dynamic product stress rates for BTL applications. The stress rate and maximum loan amount will now be determined by the chosen product rate and term, allowing for personalised affordability assessments.

No maximum loan amount or stress rate will be fixed until an application is submitted. A lower stress rate, influenced by the application type, product rate, and term, will result in a higher maximum lend.

“We want brokers to know that the changes we’ve made to our BTL mortgage proposition make us even more reliable, consistent and flexible for their landlord customers,” said Brad Fordham, head of mortgage distribution at NatWest. “In particular, the changes to our BTL affordability calculator make it quicker and easier than ever for brokers to calculate landlords’ affordability.”

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