NatWest tightens rules for applicants returning from furlough

NatWest has brought in new rules requiring applicants who have returned to work after being furloughed to provide one full month’s proof of income, such as payslips.

The lender says that it will no longer accept a letter from the employer confirming the applicant’s return to work as evidence.

NatWest says the policy has been brought in “to ensure we are doing the right thing for customers” and its intention is “to ensure that any mortgage we provide to customers is affordable”.

The new rules come into force tomorrow for all new applications, but not those that have already been submitted.

There are no further changes to the lender’s self-employed policy, which was recently updated to say that NatWest will not take into account any income from an applicant’s business if that business has received money through the self-employed income support scheme since July 14.

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