Maximum LTV capped at 80%.
Minimum of 4 weeks must remain in contract at time of offer or evidence of a further contract must be provided.
Subject to a minimum of 24 months contracting history, evidenced by accounts (Discretion may be applied subject to minimum of 12 months contracting history where applicant was previously in permanent employment in the same field of work).
Minimum calculated gross income of £75,000 per annum.
Gross income is calculated based on the current contract daily rate (as evidenced by the current contract) x number of days worked x 46 weeks.
Minimum 18 months continuous service in the same type of employment with minimum 6 months remaining on current contract.
We accept the gross value of the annual contract or an average of the last 3 months income.
Evidenced by a copy of the current contract and/or CIS payment and deduction certificates.
If they pay their own tax or sub-contracts to more than one company, we will treat them as self-employed.
Discretion is permitted subject to minimum of 12 months contracting history where applicant was previously in permanent employment in the same field of work.
55 years old.
- Regular savings plan (current value must be at least 50% of the loan amount)
- Sale of assets (subject to the current value being at least equal to the loan amount)
- Periodic capital repayments (subject to minimum of 2 years history of bonus/dividend payments)
- Sale of mortgaged property (where the property is valued at minimum £450k and there is a plausible downsize plan)
The Society will review any proposed repayment plan for plausibility.
18 years old.
5 years.
£125,000.
£125,000.
18 years old.
5 years.
50% accepted (100% subject to the court order remaining for minimum 5 years).
Not accepted as the sole income for the application.
5 years.
New lending £50,000.
Further advance £5,000
£140,000
5 years.
New mortgage - £25,000.
Further advance - £5,000
£140,000.