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Blog Archives

Payday Loans

16/03/2021

Where there is any evidence of a payday loan, the application will be declined.



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Portfolio

23/08/2017

A maximum portfolio of 3 properties in total in mortgage to the Society or other lenders will be allowable to an individual or connected counterparty. Full details must be obtained from the applicant and details verified, as far as possible, to the loans reported on the credit search The maximum that may be lent to...



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Property Types

23/08/2017

The following types of property are acceptable as security: Properties in England and Wales only Property with a minimum valuation of £90,000 Leasehold with minimum remaining term on the lease of 70 years at the end of the mortgage term Property in shared ownership Owner occupied private dwelling Acceptable security types: Houses: Detached/semi-detached/terraced/townhouse/bungalow built of...



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Part and Part combined

23/08/2017

Permitted on specific products – refer to product guide Maximum LTV 75% (60% for interest only part) Minimum equity £175,000 (£250,000 where downsizing is the repayment strategy) Repayment element of a part interest only mortgage can count towards the minimum equity requirement



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