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Blog Archives

Unacceptable Security

23/08/2017

The following types of property are not acceptable: Properties of non-standard (classed as defective under the Housing Act) construction Freehold flats Studio flats Bedsits Houseboats Property adversely affected by subsidence Property in a derelict condition Multiple occupancy properties Properties with a value of less than £90,000 Properties described in the valuation report as being unsuitable...

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Self Employed

23/08/2017

Applicants must have been trading for a minimum period of 24 months For self-employed applicants and company directors owning 331/3% or more of the company, the following are required:- LTV < 75% – most recent two years accounts or SA302 documents and respective Tax Year Overviews LTV > 75% – most recent two years accounts...

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Self Build

23/08/2017

Self build applications will be considered where the applicant intends to reside in the property in line with general criteria and in addition the following will also apply:

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Shared Ownership

15/08/2017

Permitted The maximum loan to value ratio considered by the Society is 95% of the share being purchased subject to a maximum of 75% of the value of the property for the purposes of staircasing (maximum 60% LTV for new build flats) Society will only lend on 25% of affordable scheme housing on any single...

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Short Term Lending

15/08/2017

Permitted in line with general criteria secured against borrower’s prime residential property to max 60% LTV. Short term loan purposes considered: Assist in purchase of a new residential property whilst awaiting sale of the existing property Residential development finance on another property Self build Purchase a residential property where a term of less than 5...

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