Clearly this has been introduced to “address the inflationary pressures being seen in London” a spokesperson said: “NatWest Intermediary Solutions places a strong focus on affordability and already has measures in place to safeguard customers borrowing large amounts, for instance, reducing loan-to-values for larger loans. “This measure adds to those safeguards and is targeted particularly at customers interested in the upper end of the London market, where there has been the most inflationary pressure.” This follows on the heels of Lloyds last month announcing it was capping income multiples to four times income for borrowing above £500,000 as wages were not keeping pace with house price growth in London.
Without doubt this new policy will spread, mortgages from RBS Intermediary Partners and to RBS and NatWest mortgages for direct customers are set to change later this month.
There is still the option that the Bank of England governor Mark Carney could be forced to intervene in the market and change the terms of Help to Buy. Striking the balance is clearly not easy and it is even harder to make individual choices along the way. If you want to talk through your housing options with Enables IFAs we are here to help.
Your home will be at risk if you do not keep up your mortgage payments.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
No comments:
Post a Comment