31st August 2021
As we move out of the Covid crisis, we're taking a positive approach to lending as we update our mortgage criteria.
The changes to our products include increased LTVs, more flexibility on property types, and changes to our policy on EWS1 forms.
We reviewed our product range after considering broker feedback, wider economic impact, and our risk position.
What's changed?
We've made core criteria changes across our residential, self-build, buy-for-uni, and RIO mortgages.
The maximum LTV on second homes has increased to 75%, plus flats under four storeys no longer require an EWS1 form.
We will also now lend on annexed, separate residential units with a minimum property value of £125k, and we now permit thatched roofing construction types.
In our buy-to-let range of products, we've temporarily suspended lending to ex-pats and now require personal guarantees when lending to LTD companies.
We have adjusted our interest coverage ratio to '130% at product rate + 3%' on 5-year BTL/HBTL mortgage products. We have also set a minimum EPC rating of E.
Our flexible, common-sense approach to lending means we take each application on its own merits and look for ways to say yes whenever we can.
Find out more
Our intermediary team will answer your call quickly and provide you with a personal and professional experience. Call us: 0161 429 4327