Retirement Interest Only (RIO)

Max 50% LTV Minimum age 65 at application for all borrowers Affordability assessed on a sole survivor basis for joint applications Leasehold property must have a minimum of 110 years remaining on the lease at application Loans to repay gambling debts will not be accepted Property & Financial Lasting Power of Attorney must be registered...

Regulated Buy to Let

Rental Cover & Affordability Gross rental income must cover the mortgage payment (calculated at the Society’s BTL stressed rate on an interest only basis) by a minimum of 145%, calculated after assuming no void periods after taking into account any other borrowings. Evidence of actual or anticipated rental income is obtained by reference to a...

Residency Status

Repayment strategy

Right to Buy

Permitted on selected products only Not available on flats in London The maximum loan considered is 100% of contractual purchase price up to a maximum of 65% LTV (60% in London) Rent paid by housing benefit within the last 12 months is not acceptable

Remortgage

Permitted on properties which have not been subject to sale or remortgage in the preceding six months with the following exceptions: Inherited properties Self-build properties Properties to be renovated Loan purposes considered: £ for £ remortgage Capital raising for home Improvements Capital raising for debt consolidation up to 75% LTV** ** Where a loan is...