- Customer into retirement declaration
- ESIS
- Affordability calculator
- Proof of deposit
- Evidence of repayment vehicle (Interest-Only)
- Right to Buy notice
- Building work estimates and planning permission approval
- AST and lender approval to let (where Buy to Let exist)
- Payment of fees
In all cases, actual costs will be used to assess affordability assuming a stressed rate and future tax position.
Other earned income can be considered – a full I/E would be required.
Residential = 60% LTV.
Buy to Let = 75% LTV.
Buy for Uni =100% LTV
Retirement Interest-Only = 50%.
Part Capital & Interest and part Interest-Only = 80% (at least 50% of the total loan must be on Capital & Interest. If the LTV is 60% or below there is no minimum percentage requirement for Capital & Interest).
Portfolios exceeding 4 properties will be subject to approval.
Minimum AST of 6 months accepted.
Stressed Interest Rates can vary between products.
Refer to the products page for Stressed Interest Rates.
130%.
75% LTV - £1m
70% LTV £1.8m
Accepted but must fit residential affordability calculator, considering existing commitments/living costs.
We accept a minimum rating of E (Buy to Let only).
No minimum income required.
Rationale must be provided for how the mortgage and costs are to be maintained if there’s a shortfall/voids in rental income.
18 years old.
For new entrants to the market, their knowledge and experience of the property and financial markets will be considered. Underwriters will assess all applicants to ensure competency.
Loan purposes accepted:
- Purchase
- Re-mortgage
- Capital Raising
Please refer to Intermediary team.
Accepted subject to:
- Business/commercial use does not exceed 50% of floor area
- Independent access to the residential area and (where deemed appropriate for letting use and/or saleability) with residential parking provision
- Rent from residential area should be a minimum of 75% of the stressed ICR (on an Interest-Only basis)
Not accepted.
A Holiday Letting Agent’s letter which confirms the projected High, Medium, and Low season weekly rental rates and the projected occupancy for each of these seasons. The letter should be appropriately composed from a holiday letting agent with competent knowledge of the property and its location and local market conditions.
The last 2 years accounts showing income and expenditure generated from the holiday let.
Up to 4 applicants.
Permitted 100% of concession price plus the addition of a product fee subject to:
- Maximum 70% LTV
- All applicants must be named on the Right to Buy papers
- The applicant(s) must have been registered on the voters roll at the security for a minimum of 3 years
- Local authority flats / maisonettes are not permitted
80 years old.
No maximum age where <=65% LTV and ICR met with no personal income required support affordability and applicant can demonstrate 3rd party property management arrangements are in place
5 years.
5 years.
35 years.
£1,800,000 (consolidated).
New lending £50,000.
Further advance £5,000
£140,000