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.
No personal affordability required, we will work from ICR coverage to determine affordability.
Minimum age 21, maximum age 90.
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.
We allow borrowers to occupy the property themselves for up to 90 days a year.
|
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 do not accept applicants who are unemployed or in receipt of benefit income.
Applicants who are first-time buyers or do not currently own any other property may only be considered where they either reside with a spouse or partner who owns a residential property, or occupy employer-provided accommodation.
First Time Landlords are accepted who own their own residential home.
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 that exceeds £250 per annum outside London and £1000 per annum inside London is not acceptable.
We may lend up to 75% 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 Holiday Let criteria will apply.
A holiday letting agent must be in place. The property must be rented under a Licence Agreement. AirBnB's, daily rentals and ASTs are excluded.
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.
Our minimum age for BTL applications is 21, our maximum age is 90.
Max Loan 75% - £1,000,000
Capital Raising - 75% max £500,000 (debt consolidations limited to 30% of property value).
Up to 3 properties.
Portfolio lending is not permitted on holiday lets
There is no minimum income required.
Minimum loan size on Holiday let applications is £25,000.
Our minimum property value on Holiday let mortgages is £150,000.
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 is not an exhaustive list so please speak to our Intermediary team for any firms not quoted below):
NHBC Certificate
Zurich Municipal Policy
Protek Home Warranty
Premier Guarantee
Checkmate - Castle 10
Architects Completion Certificate
Build Zone
Local Authority Building Control (LABC New Home Warranty)
Building Life Plans
ICW
One Guarantee Ltd
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.
At least one applicant should be a homeowner, living with a partner who is a homeowner, in employer accommodation or own other investment properties.
Applicants who have taken out a pay day loan within the last three years are not acceptable.
Not available on Holiday Lets
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.
Must be a standard residential furnished property that is suitable for owner occupation and has no title, local or occupancy restrictions. Relevant planning consents must be in place. Leasehold properties will only be considered where the lease explicitly permits short-term letting or Holiday Let activity.
Must qualify as a furnished Holiday Let under HM Revenue & Customs requirements.
Lending on holiday parks, complexes, B&Bs, and Airbnb is not permitted.
System built properties registered under the Housing Defects Act 1984.
Flying freeholds over 15%.
Properties with residential restrictions.
Properties without a kitchen, wc and bathroom.
Properties with agricultural restrictions, farms and small holdings.
Properties with more than 5 acres of land.
Live/Work Units.
Houses of Multiple Occupancy (HMO).
Freehold Flats or Maisonettes.
Flats in blocks with shared walkway access.
Flats with cladding unless an EWS1 form is supplied which confirms that they are rated A1, A2 and B1.
Leasehold properties with less than 75 years remaining on the lease at the end of the mortgage term.
Properties which have internal door locks.
Properties which are owned by the current owner or current vendor for less than 6 months.
Properties which are not ready for immediate occupation.
Properties which are affected by progressive structural movement, dry rot, Japanese Knot Weed or contaminated land.
Properties listed as defective under the 1984 & 1985 Housing Acts unless rebuilt to NHBC Standards and with appropriate guarantees.
Properties in which High Alumina Cement has been used in the construction.
Prefabricated buildings and unrepaired PRC constructions.
Properties with an anticipated life span of less than 25 years beyond the end of the mortgage.
Flats in blocks of more than 12 storeys (6 storeys if built prior to 1/1/20)
Steel framed structures built prior to 2000.
Studio flats where the LTV is greater than 75%.
BTL properties with an EPC rating of F or G.
Tyneside Flats i.e. criss-cross or cross-over leases.
Minimum property value £150,000
Maximum property value £1,000,000
We assess Holiday Let affordability using an average of the high, mid and low expected seasonal rental income. A reputable holiday letting agency must provide confirmation in writing.
• The letting agent should confirm in writing a high, mid and low expected seasonal rate. We’ll then take an average of these seasons over a 30 week period to calculate the annual rental income.
• Agent’s letting fees should be deducted (or assumed as being 20% of gross rents if not available or confirmed).
• For Existing Holiday Let: Either existing trading figures in the form of certified accounts, a letter from the holiday letting agent confirming gross annual income for last 2 years, or SA100 tax document can be used.
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.
We assess Holiday Let affordability using an average of the high, mid and low expected seasonal rental income. A reputable holiday letting agency must provide confirmation in writing.
• The letting agent should confirm in writing a high, mid and low expected seasonal rate. We’ll then take an average of these seasons over a 30 week period to calculate the annual rental income.
• Agent’s letting fees should be deducted (or assumed as being 20% of gross rents if not available or confirmed).
• For Existing Holiday Let: Either existing trading figures in the form of certified accounts, a letter from the holiday letting agent confirming gross annual income for last 2 years, or SA100 tax document can be used.
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. Leasehold properties will only be considered where the lease explicitly permits short-term letting or holiday let activity.
Borrowers occupying the property for more than 90 days a years
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.
