Buy-to-let
guide
ONLY FOR USE BY MORTGAGE INTERMEDIARIES
Buy-to-let rental cover requirements
Here’s a guide to the minimum monthly rent that is required to cover
specific loan amounts for a buy-to-let mortgage and the minimum
joint income for applicants. Subject to a minimum income of £25,000
for one of the applicants:
Rental cover calculation - 5.5% x 125% and 4.99 LTI cap
Loan Amount (£)
Minimum monthly
rent required (£)
Minimum joint
income (£)
Loan Amount (£)
Minimum monthly
rent required (£)
Minimum joint
income (£)
25,000.00
26,000.00
27,000.00
28,000.00
29,000.00
30,000.00
31,000.00
32,000.00
33,000.00
34,000.00
35,000.00
36,000.00
37,000.00
38,000.00
39,000.00
40,000.00
41,000.00
42,000.00
43,000.00
44,000.00
45,000.00
46,000.00
47,000.00
48,000.00
49,000.00
50,000.00
51,000.00
52,000.00
53,000.00
54,000.00
55,000.00
56,000.00
57,000.00
58,000.00
59,000.00
60,000.00
61,000.00
62,000.00
63,000.00
64,000.00
65,000.00
66,000.00
67,000.00
68,000.00
69,000.00
70,000.00
71,000.00
72,000.00
143.23
148.96
154.69
160.42
166.15
171.88
177.60
183.33
189.06
194.79
200.52
206.25
211.98
217.71
223.44
229.17
234.90
240.63
246.35
252.08
257.81
263.54
269.27
275.00
280.73
286.46
292.19
297.92
303.65
309.38
315.10
320.83
326.56
332.29
338.02
343.75
349.48
355.21
360.94
366.67
372.40
378.13
383.85
389.58
395.31
401.04
406.77
412.50
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
73,000.00
74,000.00
75,000.00
76,000.00
77,000.00
78,000.00
79,000.00
80,000.00
81,000.00
82,000.00
83,000.00
84,000.00
85,000.00
86,000.00
87,000.00
88,000.00
89,000.00
90,000.00
91,000.00
92,000.00
93,000.00
94,000.00
95,000.00
96,000.00
97,000.00
98,000.00
99,000.00
100,000.00
101,000.00
102,000.00
103,000.00
104,000.00
105,000.00
106,000.00
107,000.00
108,000.00
109,000.00
110,000.00
111,000.00
112,000.00
113,000.00
114,000.00
115,000.00
116,000.00
117,000.00
118,000.00
119,000.00
120,000.00
418.23
423.96
429.69
435.42
441.15
446.88
452.60
458.33
464.06
469.79
475.52
481.25
486.98
492.71
498.44
504.17
509.90
515.63
521.35
527.08
532.81
538.54
544.27
550.00
555.73
561.46
567.19
572.92
578.65
584.38
590.10
595.83
601.56
607.29
613.02
618.75
624.48
630.21
635.94
641.67
647.40
653.13
658.85
664.58
670.31
676.04
681.77
687.50
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
Loan Amount (£)
121,000.00
122,000.00
123,000.00
124,000.00
125,000.00
126,000.00
127,000.00
128,000.00
129,000.00
130,000.00
131,000.00
132,000.00
133,000.00
134,000.00
135,000.00
136,000.00
137,000.00
138,000.00
139,000.00
140,000.00
141,000.00
142,000.00
143,000.00
144,000.00
145,000.00
146,000.00
147,000.00
148,000.00
149,000.00
150,000.00
151,000.00
152,000.00
153,000.00
154,000.00
155,000.00
156,000.00
157,000.00
158,000.00
159,000.00
160,000.00
161,000.00
162,000.00
163,000.00
164,000.00
165,000.00
166,000.00
167,000.00
168,000.00
169,000.00
170,000.00
171,000.00
172,000.00
173,000.00
174,000.00
175,000.00
176,000.00
177,000.00
178,000.00
179,000.00
180,000.00
181,000.00
182,000.00
183,000.00
184,000.00
Minimum monthly
rent required (£)
693.23
698.96
704.69
710.42
716.15
721.88
727.60
733.33
739.06
744.79
750.52
756.25
761.98
767.71
773.44
779.17
784.90
790.63
796.35
802.08
807.81
813.54
819.27
825.00
830.73
836.46
842.19
847.92
853.65
859.38
865.10
870.83
876.56
882.29
888.02
893.75
899.48
905.21
910.94
916.67
922.40
928.13
933.85
939.58
945.31
951.04
956.77
962.50
968.23
973.96
979.69
985.42
991.15
996.88
1,002.60
1,008.33
1,014.06
1,019.79
1,025.52
1,031.25
1,036.98
1,042.71
1,048.44
1,054.17
Minimum joint
income (£)
Loan Amount (£)
25,000.00
25,000.00
25,000.00
25,000.00
25,050.10
25,250.50
25,450.90
25,651.30
25,851.70
26,052.10
26,252.51
26,452.91
26,653.31
26,853.71
27,054.11
27,254.51
27,454.91
27,655.31
27,855.71
28,056.11
28,256.51
28,456.91
28,657.31
28,857.72
29,058.12
29,258.52
29,458.92
29,659.32
29,859.72
30,060.12
30,260.52
30,460.92
30,661.32
30,861.72
31,062.12
31,262.53
31,462.93
31,663.33
31,863.73
32,064.13
32,264.53
32,464.93
32,665.33
32,865.73
33,066.13
33,266.53
33,466.93
33,667.33
33,867.74
34,068.14
34,268.54
34,468.94
34,669.34
34,869.74
35,070.14
35,270.54
35,470.94
35,671.34
35,871.74
36,072.14
36,272.55
36,472.95
36,673.35
36,873.75
185,000.00
186,000.00
187,000.00
188,000.00
189,000.00
190,000.00
191,000.00
192,000.00
193,000.00
194,000.00
195,000.00
196,000.00
197,000.00
198,000.00
199,000.00
200,000.00
201,000.00
202,000.00
203,000.00
204,000.00
205,000.00
206,000.00
207,000.00
208,000.00
209,000.00
210,000.00
211,000.00
212,000.00
213,000.00
214,000.00
215,000.00
216,000.00
217,000.00
218,000.00
219,000.00
220,000.00
221,000.00
222,000.00
223,000.00
224,000.00
225,000.00
226,000.00
227,000.00
228,000.00
229,000.00
230,000.00
231,000.00
232,000.00
233,000.00
234,000.00
235,000.00
236,000.00
237,000.00
238,000.00
239,000.00
240,000.00
241,000.00
242,000.00
243,000.00
244,000.00
245,000.00
246,000.00
247,000.00
248,000.00
Minimum monthly
rent required (£)
1,059.90
1,065.63
1,071.35
1,077.08
1,082.81
1,088.54
1,094.27
1,100.00
1,105.73
1,111.46
1,117.19
1,122.92
1,128.65
1,134.38
1,140.10
1,145.83
1,151.56
1,157.29
1,163.02
1,168.75
1,174.48
1,180.21
1,185.94
1,191.67
1,197.40
1,203.13
1,208.85
1,214.58
1,220.31
1,226.04
1,231.77
1,237.50
1,243.23
1,248.96
1,254.69
1,260.42
1,266.15
1,271.88
1,277.60
1,283.33
1,289.06
1,294.79
1,300.52
1,306.25
1,311.98
1,317.71
1,323.44
1,329.17
1,334.90
1,340.63
1,346.35
1,352.08
1,357.81
1,363.54
1,369.27
1,375.00
1,380.73
1,386.46
1,392.19
1,397.92
1,403.65
1,409.38
1,415.10
1,420.83
Minimum joint
income (£)
37,074.15
37,274.55
37,474.95
37,675.35
37,875.75
38,076.15
38,276.55
38,476.95
38,677.35
38,877.76
39,078.16
39,278.56
39,478.96
39,679.36
39,879.76
40,080.16
40,280.56
40,480.96
40,681.36
40,881.76
41,082.16
41,282.57
41,482.97
41,683.37
41,883.77
42,084.17
42,284.57
42,484.97
42,685.37
42,885.77
43,086.17
43,286.57
43,486.97
43,687.37
43,887.78
44,088.18
44,288.58
44,488.98
44,689.38
44,889.78
45,090.18
45,290.58
45,490.98
45,691.38
45,891.78
46,092.18
46,292.59
46,492.99
46,693.39
46,893.79
47,094.19
47,294.59
47,494.99
47,695.39
47,895.79
48,096.19
48,296.59
48,496.99
48,697.39
48,897.80
49,098.20
49,298.60
49,499.00
49,699.40
Loan Amount (£)
249,000.00
250,000.00
251,000.00
252,000.00
253,000.00
254,000.00
255,000.00
256,000.00
257,000.00
258,000.00
259,000.00
260,000.00
261,000.00
262,000.00
263,000.00
264,000.00
265,000.00
266,000.00
267,000.00
268,000.00
269,000.00
270,000.00
271,000.00
272,000.00
273,000.00
274,000.00
275,000.00
276,000.00
277,000.00
278,000.00
279,000.00
280,000.00
281,000.00
282,000.00
283,000.00
284,000.00
285,000.00
286,000.00
287,000.00
288,000.00
289,000.00
290,000.00
291,000.00
292,000.00
293,000.00
294,000.00
295,000.00
296,000.00
297,000.00
298,000.00
299,000.00
300,000.00
301,000.00
302,000.00
303,000.00
304,000.00
305,000.00
306,000.00
307,000.00
308,000.00
309,000.00
310,000.00
311,000.00
312,000.00
Minimum monthly
rent required (£)
1,426.56
1,432.29
1,438.02
1,443.75
1,449.48
1,455.21
1,460.94
1,466.67
1,472.40
1,478.13
1,483.85
1,489.58
1,495.31
1,501.04
1,506.77
1,512.50
1,518.23
1,523.96
1,529.69
1,535.42
1,541.15
1,546.88
1,552.60
1,558.33
1,564.06
1,569.79
1,575.52
1,581.25
1,586.98
1,592.71
1,598.44
1,604.17
1,609.90
1,615.63
1,621.35
1,627.08
1,632.81
1,638.54
1,644.27
1,650.00
1,655.73
1,661.46
1,667.19
1,672.92
1,678.65
1,684.38
1,690.10
1,695.83
1,701.56
1,707.29
1,713.02
1,718.75
1,724.48
1,730.21
1,735.94
1,741.67
1,747.40
1,753.13
1,758.85
1,764.58
1,770.31
1,776.04
1,781.77
1,787.50
Minimum joint
income (£)
Loan Amount (£)
49,899.80
50,100.20
50,300.60
50,501.00
50,701.40
50,901.80
51,102.20
51,302.61
51,503.01
51,703.41
51,903.81
52,104.21
52,304.61
52,505.01
52,705.41
52,905.81
53,106.21
53,306.61
53,507.01
53,707.41
53,907.82
54,108.22
54,308.62
54,509.02
54,709.42
54,909.82
55,110.22
55,310.62
55,511.02
55,711.42
55,911.82
56,112.22
56,312.63
56,513.03
56,713.43
56,913.83
57,114.23
57,314.63
57,515.03
57,715.43
57,915.83
58,116.23
58,316.63
58,517.03
58,717.43
58,917.84
59,118.24
59,318.64
59,519.04
59,719.44
59,919.84
60,120.24
60,320.64
60,521.04
60,721.44
60,921.84
61,122.24
61,322.65
61,523.05
61,723.45
61,923.85
62,124.25
62,324.65
62,525.05
313,000.00
314,000.00
315,000.00
316,000.00
317,000.00
318,000.00
319,000.00
320,000.00
321,000.00
322,000.00
323,000.00
324,000.00
325,000.00
326,000.00
327,000.00
328,000.00
329,000.00
330,000.00
331,000.00
332,000.00
333,000.00
334,000.00
335,000.00
336,000.00
337,000.00
338,000.00
339,000.00
340,000.00
341,000.00
342,000.00
343,000.00
344,000.00
345,000.00
346,000.00
347,000.00
348,000.00
349,000.00
350,000.00
351,000.00
352,000.00
353,000.00
354,000.00
355,000.00
356,000.00
357,000.00
358,000.00
359,000.00
360,000.00
361,000.00
362,000.00
363,000.00
364,000.00
365,000.00
366,000.00
367,000.00
368,000.00
369,000.00
370,000.00
371,000.00
372,000.00
373,000.00
374,000.00
375,000.00
376,000.00
Minimum monthly
rent required (£)
1,793.23
1,798.96
1,804.69
1,810.42
1,816.15
1,821.88
1,827.60
1,833.33
1,839.06
1,844.79
1,850.52
1,856.25
1,861.98
1,867.71
1,873.44
1,879.17
1,884.90
1,890.63
1,896.35
1,902.08
1,907.81
1,913.54
1,919.27
1,925.00
1,930.73
1,936.46
1,942.19
1,947.92
1,953.65
1,959.38
1,965.10
1,970.83
1,976.56
1,982.29
1,988.02
1,993.75
1,999.48
2,005.21
2,010.94
2,016.67
2,022.40
2,028.13
2,033.85
2,039.58
2,045.31
2,051.04
2,056.77
2,062.50
2,068.23
2,073.96
2,079.69
2,085.42
2,091.15
2,096.88
2,102.60
2,108.33
2,114.06
2,119.79
2,125.52
2,131.25
2,136.98
2,142.71
2,148.44
2,154.17
Minimum joint
income (£)
62,725.45
62,925.85
63,126.25
63,326.65
63,527.05
63,727.45
63,927.86
64,128.26
64,328.66
64,529.06
64,729.46
64,929.86
65,130.26
65,330.66
65,531.06
65,731.46
65,931.86
66,132.26
66,332.67
66,533.07
66,733.47
66,933.87
67,134.27
67,334.67
67,535.07
67,735.47
67,935.87
68,136.27
68,336.67
68,537.07
68,737.47
68,937.88
69,138.28
69,338.68
69,539.08
69,739.48
69,939.88
70,140.28
70,340.68
70,541.08
70,741.48
70,941.88
71,142.28
71,342.69
71,543.09
71,743.49
71,943.89
72,144.29
72,344.69
72,545.09
72,745.49
72,945.89
73,146.29
73,346.69
73,547.09
73,747.49
73,947.90
74,148.30
74,348.70
74,549.10
74,749.50
74,949.90
75,150.30
75,350.70
Loan Amount (£)
377,000.00
378,000.00
379,000.00
380,000.00
381,000.00
382,000.00
383,000.00
384,000.00
385,000.00
386,000.00
387,000.00
388,000.00
389,000.00
390,000.00
391,000.00
392,000.00
393,000.00
394,000.00
395,000.00
396,000.00
397,000.00
398,000.00
399,000.00
400,000.00
401,000.00
402,000.00
403,000.00
404,000.00
405,000.00
406,000.00
407,000.00
408,000.00
409,000.00
410,000.00
411,000.00
412,000.00
413,000.00
414,000.00
415,000.00
416,000.00
417,000.00
418,000.00
419,000.00
420,000.00
421,000.00
422,000.00
423,000.00
424,000.00
425,000.00
426,000.00
427,000.00
428,000.00
429,000.00
430,000.00
431,000.00
432,000.00
433,000.00
434,000.00
435,000.00
436,000.00
437,000.00
438,000.00
Minimum monthly
rent required (£)
2,159.90
2,165.63
2,171.35
2,177.08
2,182.81
2,188.54
2,194.27
2,200.00
2,205.73
2,211.46
2,217.19
2,222.92
2,228.65
2,234.38
2,240.10
2,245.83
2,251.56
2,257.29
2,263.02
2,268.75
2,274.48
2,280.21
2,285.94
2,291.67
2,297.40
2,303.13
2,308.85
2,314.58
2,320.31
2,326.04
2,331.77
2,337.50
2,343.23
2,348.96
2,354.69
2,360.42
2,366.15
2,371.88
2,377.60
2,383.33
2,389.06
2,394.79
2,400.52
2,406.25
2,411.98
2,417.71
2,423.44
2,429.17
2,434.90
2,440.63
2,446.35
2,452.08
2,457.81
2,463.54
2,469.27
2,475.00
2,480.73
2,486.46
2,492.19
2,497.92
2,503.65
2,509.38
Minimum joint
income (£)
Loan Amount (£)
75,551.10
75,751.50
75,951.90
76,152.30
76,352.71
76,553.11
76,753.51
76,953.91
77,154.31
77,354.71
77,555.11
77,755.51
77,955.91
78,156.31
78,356.71
78,557.11
78,757.52
78,957.92
79,158.32
79,358.72
79,559.12
79,759.52
79,959.92
80,160.32
80,360.72
80,561.12
80,761.52
80,961.92
81,162.32
81,362.73
81,563.13
81,763.53
81,963.93
82,164.33
82,364.73
82,565.13
82,765.53
82,965.93
83,166.33
83,366.73
83,567.13
83,767.54
83,967.94
84,168.34
84,368.74
84,569.14
84,769.54
84,969.94
85,170.34
85,370.74
85,571.14
85,771.54
85,971.94
86,172.34
86,372.75
86,573.15
86,773.55
86,973.95
87,174.35
87,374.75
87,575.15
87,775.55
439,000.00
440,000.00
441,000.00
442,000.00
443,000.00
444,000.00
445,000.00
446,000.00
447,000.00
448,000.00
449,000.00
450,000.00
451,000.00
452,000.00
453,000.00
454,000.00
455,000.00
456,000.00
457,000.00
458,000.00
459,000.00
460,000.00
461,000.00
462,000.00
463,000.00
464,000.00
465,000.00
466,000.00
467,000.00
468,000.00
469,000.00
470,000.00
471,000.00
472,000.00
473,000.00
474,000.00
475,000.00
476,000.00
477,000.00
478,000.00
479,000.00
480,000.00
481,000.00
482,000.00
483,000.00
484,000.00
485,000.00
486,000.00
487,000.00
488,000.00
489,000.00
490,000.00
491,000.00
492,000.00
493,000.00
494,000.00
495,000.00
496,000.00
497,000.00
498,000.00
499,000.00
500,000.00
Minimum monthly
rent required (£)
2,515.10
2,520.83
2,526.56
2,532.29
2,538.02
2,543.75
2,549.48
2,555.21
2,560.94
2,566.67
2,572.40
2,578.13
2,583.85
2,589.58
2,595.31
2,601.04
2,606.77
2,612.50
2,618.23
2,623.96
2,629.69
2,635.42
2,641.15
2,646.88
2,652.60
2,658.33
2,664.06
2,669.79
2,675.52
2,681.25
2,686.98
2,692.71
2,698.44
2,704.17
2,709.90
2,715.63
2,721.35
2,727.08
2,732.81
2,738.54
2,744.27
2,750.00
2,755.73
2,761.46
2,767.19
2,772.92
2,778.65
2,784.38
2,790.10
2,795.83
2,801.56
2,807.29
2,813.02
2,818.75
2,824.48
2,830.21
2,835.94
2,841.67
2,847.40
2,853.13
2,858.85
2,864.58
Minimum joint
income (£)
87,975.95
88,176.35
88,376.75
88,577.15
88,777.56
88,977.96
89,178.36
89,378.76
89,579.16
89,779.56
89,979.96
90,180.36
90,380.76
90,581.16
90,781.56
90,981.96
91,182.36
91,382.77
91,583.17
91,783.57
91,983.97
92,184.37
92,384.77
92,585.17
92,785.57
92,985.97
93,186.37
93,386.77
93,587.17
93,787.58
93,987.98
94,188.38
94,388.78
94,589.18
94,789.58
94,989.98
95,190.38
95,390.78
95,591.18
95,791.58
95,991.98
96,192.38
96,392.79
96,593.19
96,793.59
96,993.99
97,194.39
97,394.79
97,595.19
97,795.59
97,995.99
98,196.39
98,396.79
98,597.19
98,797.60
98,998.00
99,198.40
99,398.80
99,599.20
99,799.60
100,000.00
100,200.40
For more information go to intermediary.natwest.com
Our lending criteria
Here’s a summary of some of the key elements
of our lending criteria for buy-to-let and let-to-buy:
Buy-to-Let
• Rental cover calculation: 125% x 5.5%
• Minimum annual income: £25,000 from single applicant
•Maximum number of buy-to-let mortgages permitted for single applicant:
4 (including new application) with any lender, up to a maximum of £2m
lending on all buy-to-let properties
• Loan to income cap: Maximum 4.99 times income
• Minimum loan: £25,000
• Minimum property value: £50,000
• Maximum LTV: 75% or 65% for new builds
•First-time buyers (subject to rental coverage and affordability – proof of income
will be required) and non-residential mortgage holders accepted
•Interest-only available on all buy-to-let purchases and remortgages
•Repayment vehicle of sale of property accepted
•We do not offer consumer buy-to-let mortgages. Consumer buy-to-let will not
apply to purchase transactions, customers with existing buy-to-let properties or
any properties with current or future family occupancy. We will continue to apply
a consent-to-let for existing NatWest mortgage customers looking to let out a
property on a residential mortgage
•£0 product fee mortgages
•We cannot accept applications from business partnerships or limited companies
Let-to-Buy
•100% mortgage cover on let property. Ring-fencing of current property if rent
covers mortgage (will use ARLA letter)
•Applicants need a letter from a local ARLA-registered letting agent or estate
agent to show the expected rental income. If it covers the mortgage cost then
this payment can generally be disregarded from the affordability calculation.
If there is a shortfall in rent then this must be disclosed as a monthly commitment
on the affordability calculator
•We will accept an application for a buy-to-let mortgage up to a maximum of 75%
LTV to enable a customer to raise a deposit for the purchase of a residential
property using a mortgage of up to 90% LTV, where both mortgages are placed
with NatWest. If the mortgage to purchase the new residential property is with
another lender, the mortgage with NatWest cannot be at a higher LTV.
This is subject to an underwriter’s discretion.
NWIS6 March 2016