Our criteria is listed in alphabetical order to enable you to quickly find the information that you require.
If you do need further information then please contact our team on
0808 281 9309
Maximum acreage acceptable is 5 Acres. Up to 10 Acres considered on a case by case basis.
Missed payments
Secured & Unsecured Debt – A maximum of 1 month’s arrears on one account within last 12 months may be considered.
For secured debt the account must have been up to date for at least 6 months prior to application. For unsecured debt the account must be brought up to date prior to application.
Defaults & CCJ’s
CCJ’s/Defaults with a combined value of less than £500 can be considered if registered more than three years ago and settled at least 6 months prior to application.
Bankruptcy/IVA
Can be considered if discharged for at least 6 years.
Debt Management Plan
Unaccepted.
Family Regulated BTL’s – Need to pass a personal affordability assessment and ICR coverage based on open market rent.
Family Regulated BTL Affordability Calculator
All other BTL’s - No personal affordability required, we will work from ICR coverage to determine affordability.
Minimum age 21, maximum age 90.
Maximum applicants 4
Subject to no other adverse credit, we will accept an arrangement for up to 3 months on one Communications, Credit Card, Mail Order or Utility account within the last 12 months. The account must have been brought up to date.
Can be considered if discharged for at least 6 years.
|
Purchasing/remortgaging a buy to let property |
75% |
|
Remortgaging a buy to let property (like for like) |
75% |
|
Property extension |
75% |
|
Non-structural home improvements |
75% |
|
Structural home improvements |
75% |
|
Buy freehold title or new extended lease |
75% |
|
Buy a share in the freehold |
75% |
|
Buy land to extend security |
75% |
|
Buy out partner’s interest (non-borrower) |
75% |
|
Buy land or property separate from the security |
75% |
|
Personal consumption |
75% |
|
Pay off second charge (if for debt consolidation) |
75% |
|
Pay off second charge (not for debt consolidation) |
75% |
|
Debt Consolidation |
75% |
The broker fee must not exceed the lower of 1.5% of the mortgage loan amount or £1,500. Any fee above this limit will be reviewed on submission and may result in the application being declined.
CCJ’s/Defaults with a combined value of less than £500 can be considered if registered more than three years ago and settled at least 6 months prior to application.
Where any loan includes an element of capital raising then the maximum LTV is 75%. The maximum capital raising loan which can be included within an overall total mortgage amount is £500k.
Where any loan includes an element of capital raising then the maximum LTV is 75%. The amount raised for debt consolidation is limited to 30% of the property value.
None in the last 3 years and must be satisfied for at least 3 years.
CCJ’s/Defaults with a combined value of less than £500 can be considered if registered more than three years ago and settled at least 6 months prior to application.
Personal savings.
Non repayable gift from family member.
Sale/remortgage of existing property.
Where there are concerns about the external wall construction (cladding) for all flats then the valuer needs to obtain a EWS1 form which must be completed by a suitably qualified person, only options A1, A2 & B1 are acceptable.
No minimum income is required from applicants, however we do require applicants to be employed, self employed or retired.
We can consider purchases and remortgages for regulated Family Buy to Let properties where a family member will be living in the property.
To be eligible, the application must:
Use our BTL Affordability Calculator
Please note we do not lend on regulated BTL’s held within a Ltd Company or for portfolio landlords.
* For acceptable sources of income and our maternity leave policy, please refer to our residential criteria.
First time landlords who are first time buyers, must select a specific non-homeowner product
First Time Landlords are accepted who own their own residential home.
First time landlords who are first time buyers, must select a specific non-homeowner product.
Flats – buildings built before 1 January 2020
Flats – buildings built on or after 1 January 2020
We accept gifted deposits from immediate family members, we will require a gifted deposit form to be hand signed.
Green Products are restricted to properties with EPC A-C (Subject to availability).
Ground Rent must not be onerous and must adhere to the Renters Rights Act. Reasonability is subject to the Valuer’s professional opinion.
We may lend up to 90% LTV for non structural home improvements.
For structural home improvements we may lend up to 80% LTV.
Please follow the below guide.
|
Stress Rates |
£ for £ Remortgage All Products |
Purchase/ Let to Buy/ remortgage + additional borrowing < 5 Year Fixed |
Purchase/ Let to Buy/ remortgage + additional borrowing >=5 Year Fixed |
|---|---|---|---|
|
Buy to Let |
125% @ Pay Rate |
140% @ Pay Rate +2%
|
140% @ Pay Rate |
|
Holiday Let |
125% @ Pay Rate |
140% @ Pay Rate +2%
|
140% @ Pay Rate |
|
Ltd Company BTL |
125% @ Pay Rate |
125% @ Pay Rate +2%
|
125% @ Pay Rate |
|
Portfolio Landlord |
125% @ Pay Rate |
140% @ Pay Rate +2%
|
140% @ Pay Rate |
No minimum income is required from applicants, however we do require applicants to be employed, self employed or retired.
Applications on an interest-only basis must have a maximum LTV of 75%. A credible repayment vehicle is required and must be evidenced, with sufficient value to repay the capital balance at the end of the mortgage term.
For acceptable repayment vehicles, please see our Interest-Only Repayment Vehicles criteria.
We can consider leasehold properties where at least 50 years will remain on the lease at the end of the mortgage term.
For new build properties, the lease term at completion must be a minimum of 125 years for flats and 250 years for houses
|
Loan Type |
Maximum LTV |
Minimum Loan |
Maximum Loan |
|
Purchase |
75% |
£25,000 |
£1m |
|
Remortgage |
75% |
£25,000 |
£1m |
Standard Buy to Let criteria will apply.
Consumer BTL
Investment BTL
Family Regulated BTL
Non-Homeowner BTL
Portfolio BTL
Let to Buy
Purchase/Remortgage 75%
Capital Raising - 75% max £500,000 (debt consolidations limited to 30% of property value).
England (Including Isle of Wight) & Wales.
Where an applicant is currently on or going on maternity/paternity leave, confirmation is required from the applicant of their intention to return to work on a full-time/part-time basis
Regulated Family BTL
-For the purpose of the affordability assessment, if income will be reduced whilst on maternity/paternity leave, this reduced income rather than the current income will be taken into account when calculating affordability.
Regulated Family BTL where affordability cannot be provenduring the maternity/paternity leave,this is acceptable subject to evidence of savings to cover any shortfall of income
Our minimum age for BTL applications is 21, our maximum age is 90.
The term of the mortgage must not extend beyond the 90th birthday of the oldest borrower.
Max Loan 75% - £1,000,000
Capital Raising - 75% max £500,000 (debt consolidations limited to 30% of property value).
Lending in retirement on a regulated BTL is restricted to 70% LTV
The maximum number of BTL properties that can be in mortgage to the Society is 6 and the maximum number of BTL properties held in a portfolio, regardless of whether they are in mortgage to the society, other lenders or mortgage free is 20.
*Please note current product restrictions limit maximum number of properties to 10.
Standard BTL’s, Limited company BTL’s and Holiday lets there is no minimum income required.
Family regulated BTL
Regulated (Family) BTL must meet ICR based on rental figure as confirmed by the Valuer and full residential affordability assessment.
Please see our family regulated BTL section for more information.
Minimum loan size on standard BTL applications is £25,000.
Our minimum property value on standard BTL mortgages is £50,000.
5 years - 40 years.
Secured & Unsecured Debt – A maximum of 1 month’s arrears on one account within last 12 months may be considered.
For secured debt the account must have been up to date for at least 6 months prior to application. For unsecured debt the account must be brought up to date prior to application.
Any property which has been built / converted within the last 10 years must hold an acceptable guarantee/certificate.
Acceptable guarantee/certificates include (This isn't an exhaustive list so please speak to our Intermediary team for any firms not quoted below):
Other guarantee / certificates considered on a case by case basis.
Accepted for Standard and Family Regulated BTL’s.
For Portfolio BTL’s, Holiday Lets andLtd Company BTL’s - At least one applicant should be a homeowner, living with a partner who is a homeowner, in employer accommodation or own other investment properties.
Maximum applicants 4
Applicants who have taken out a pay day loan within the last three years are not acceptable.
The maximum number of BTL properties that can be in mortgage to the Society is 6 and the maximum number of BTL properties held in a portfolio, regardless of whether they are in mortgage to the Society, other lenders or mortgage free is 20.
Current product only allows for maximum of 10 properties.
The portfolio, excluding the subject property, must have a combined ICR coverage of 140% at the higher of payrate plus 1% or 5.5%.
Maximum of 2 properties with the Society in the same postcode area (e.g. 'ST13').
New Build flats are excluded (built within last 2 years)
Residential properties permanently affixed to land, which are not mentioned in the unacceptable security section, are suitable security for mortgage lending subject to confirmation from the valuation report.
Minimum property value £50,000
Please see lending limits
Please follow the below guide.
|
Stress Rates |
£ for £ Remortgage All Products |
Purchase/ Let to Buy/ remortgage + additional borrowing < 5 Year Fixed |
Purchase/ Let to Buy/ remortgage + additional borrowing >=5 Year Fixed |
|---|---|---|---|
|
Buy to Let |
125% @ Pay Rate |
140% @ Pay Rate +2%
|
140% @ Pay Rate |
|
Holiday Let |
125% @ Pay Rate |
140% @ Pay Rate +2%
|
140% @ Pay Rate |
|
Ltd Company BTL |
125% @ Pay Rate |
125% @ Pay Rate +2%
|
125% @ Pay Rate |
|
Portfolio Landlord |
125% @ Pay Rate |
140% @ Pay Rate +2%
|
140% @ Pay Rate |
We offer loans on a repayment basis, interest only or part and part.
We accept applications from customers who are currently resident in the UK and have a minimum 3 years' UK address history.
Applicants must also be:
No minimum income is required from applicants, however we do require applicants to be employed, self employed or retired. We do not accept applicants who are unemployed or in receipt of benefit income.
Solar panels will be considered subject to the Valuer’s recommendations.
Where the panels are leased, a copy of the lease documentation will be required for submission with the application for approval by the Society. The lease must contain agreement for removal of the panels, at no cost to the Society, should the Society take the property into possession.
Please follow the below guide.
|
Stress Rates |
£ for £ Remortgage All Products |
Purchase/ Let to Buy/ remortgage + additional borrowing < 5 Year Fixed |
Purchase/ Let to Buy/ remortgage + additional borrowing >=5 Year Fixed |
|---|---|---|---|
|
Buy to Let |
125% @ Pay Rate |
140% @ Pay Rate +2%
|
140% @ Pay Rate |
|
Holiday Let |
125% @ Pay Rate |
140% @ Pay Rate +2%
|
140% @ Pay Rate |
|
Ltd Company BTL |
125% @ Pay Rate |
125% @ Pay Rate +2%
|
125% @ Pay Rate |
|
Portfolio Landlord |
125% @ Pay Rate |
140% @ Pay Rate +2%
|
140% @ Pay Rate |
Freehold (houses only). Leasehold properties must have at least 50 years remaining on the lease at the end of the mortgage term.
Sale and rent back.
HMO’s.
Properties being purchased from the applicant’s own business.
Properties that require items of major structural repair e.g. structural defects, electrics, drains. trees.
Remortgage applications where the applicant has not owned the property for six months.
Capital raising for business or investment purposes or to fund living costs.
Bridging finance.
Applicants who have taken out a pay day loan within the last three years.
Self-build.
Foreign Currency Loans.
Properties with EPC rating of F and G.
The Society doesn't currently accept anyone on a visa.
