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Natwest Intermediary updates criteria for high earning contractors


NatWest Intermediary Solutions has made changes to its assessment of high earning contractors’ income and the type of maintenance payments it will accept.

For contractors who earn more than £75,000 a year, it will now calculate their income as their average weekly contract income multiplied by 46, provided that they have received or will receive sufficient income from one or more contracts over a 12 month period that incorporates the date of application.

It also specifies that applicants have received at least six months’ historic income from one or more contracts immediately preceding the date of application and have had no more than a 6 week break between contracts in the 12-month period. It will also request copies of their latest three months’ consecutive personal bank statements for their main account.

Mark Bullard, Head of Sales, NatWest Intermediary Solutions says: “Employment patterns have changed significantly over the past few years with many more people opting for contract work instead of permanent employment.

“To reflect that many contractors are high earners, we have changed our standpoint on assessing their income to make it more straightforward for those whose income exceeds £75,000 a year. We believe that this will enable brokers to help more contractors with their mortgage needs.”

NatWest has also announced that, in addition to already accepting income from court ordered maintenance and child maintenance, it will now accept income from family-based or non-court ordered maintenance and child maintenance provided that the payments have been in place for at least six months and are expected to continue at the current level for the foreseeable future, taking into account the age of children.


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  • John Yerou 12th December 2016 at 3:46 pm

    Excellent news and a great early Christmas present to all contractors that are grossing more than £75K a year. This seems to be the trend recently with the announcement from Accord Mortgages as well.

    I’m looking forward to when the minimum £75K threshold is removed for all contractors. Nationwide, Metro and Virgin and Kensington launched their contractor policies with no minimum threshold.

    But like I said, this is a great step for NatWest and their commitment to high earning contractors!