NatWest cuts loan to income ratio for mortgages

[Nicholas Wallwork]

In a move which many experts believe highlights the difficult market for first-time buyers in the UK NatWest has announced a reduction in its core loan to income ratio for mortgages. The ratio has been cut from 4.75 down to 4.45 for single and joint mortgage applications with a deposit of between 15% and 25%.

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It will be interesting to see the breakdown of the next set of UK mortgage figures and whether indeed the likes of NatWest have fulfilled their complement of higher ratio mortgages and are now looking to rebalance their books.