Criteria

Our key lending criteria are summarised below. For the full details, please see our Underwriting Guide or contact us if you need additional support.

All mortgage intermediaries are required to comply with our Intermediary Terms of Business.

Please note – each application is considered on its merits and we do not guarantee acceptance of all cases which meet our headline criteria.

Term
  • Minimum Term – 5 Years.
  • Maximum Term – 35 Years.
Loan
  • Minimum Loan Amount – £50,000.
  • Minimum Valuation – £75,000 for single properties and £100,000 for HMOs, MUFBs, New Builds & Flats above Commercial premises.

STANDARD (single properties)

  • Maximum Loan Amount – £2,000,000 @ 75% LTV.
  • Maximum Loan Amount – £1,500,000 @ 80% LTV.

SPECIALIST
HMOs & MUFBs:

  • Maximum Loan Amount – £600,000 @ 80% LTV.
  • Maximum Loan Amount – £1,000,000 @ 75% LTV.

New build and flats above commercial premises:

  • Maximum Loan Amount – £1,500,000 @ 70% LTV.

NB – The maximum LTV for portfolios with aggregate loans of more than £2,000,000 is 75%. We will require proof of the source of deposits.

Credit Status
  • No missed mortgage or secured loan payments in the last 12 months and no more than 1 missed payment in last 24 months.
  • No more than 1 month in arrears on unsecured loan or Credit Card payments in last 24 months and no arrears in last 6 months.
  • Max 1 CCJ up to £250 in the last 3 years (0 in the last 12 months). Must be satisfied.
  • Please refer to our Underwriting Guide for further details of our credit criteria.
Applicant(s)
  • Individuals and Limited Companies set up as SPVs.
  • Maximum number of applicants – 4.
  • Minimum age – 21.
  • Maximum age – 95 at end of mortgage term.
  • Members of the Armed forces may apply – see specific conditions in our Underwriting Guide.
Landlord Experience
  • At least one applicant must have owned and still own at least one property (residential or buy to let) for a minimum of 12 months.
  • Employed – must be in permanent position for at least 6 months and not under notice of termination.
  • Self Employed & Contractors – Self employed: One full year evidence of income from accounts or accountants certificate or SA302 together with a tax-year overview.
Affordability STANDARD

  • Lower rate taxpayers or like for like remortgages, 125% ICR based on higher of payrate +2%, reversion rate or 5.5%.  For 5 year products, 125% ICR based on product rate.
  • Non lower rate taxpayers, 140% ICR based on higher of payrate +2%, reversion rate or 5.5%.  For 5 year products, 140% ICR based on product rate.
  • Limited Company – 125% ICR based on the higher of pay rate +2% or reversion rate or  5.5%. For 5 year products, 125% ICR based on product rate.

SPECIALIST
(HMOs. MUFBs, New Build and Flats above Commercial premises)

Individuals and Limited Companies:

  • 155% ICR based on the higher of pay rate +2% or reversion rate or 5.5%. For 5 year products 155% ICR based on product rate.
Property
  • Single properties, HMOs, MUFBs, New Builds & Flats above Commercial.
  • Lender must have a first charge over the property.
  • England and Wales only (excluding Channel Islands and Isle of Man).
  • Freehold or leasehold.
Overpayments
  • Up to 10% of the outstanding balance can be repaid in any 12 month period without incurring an Early Repayment Charge.
Fees
  • A non-refundable application fee applies on all products.
  • Product fees may be required – see our Product Range for information.