NatWest Intermediary Solutions now considers buy-to-let applications where there a selective licencing scheme is in place where the property is situated.
The lender will consider these applications provided the valuer does not highlight any issues.
In areas where the local authority introduces these schemes, landlords are required to have a licence to rent out their property.
NIS acting head of sales Paul Kane says: “Selective licensing has been an issue for brokers in specific parts of the country where they have been introduced by local authorities.
”With the expectation that the number of schemes will increase over the coming months and years, I am pleased that we are now able to accept applications from buy-to-let investors who want to buy a property in an area where they require a selective licence.”
The lender is also increasing a number of its lower LTV residential products by between 4 and 12 basis points.
Kane adds: “Having reviewed our portfolio, we are making rate changes to maintain the correct balance of business we receive. We have been very busy in the last few months thanks to the popularity of our products and look forward to an equally busy second half of the year.”
A summary of the rate changes: