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The criteria provided below is accurate as at 12.07.24

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Tandem

Property Value

£75,000

90% Max LTX

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£25,001
Income

Minimum income £12,500 from main job
100% of monthly or quarterly bonus/commission accepted for affordability (if consistent)

Minimum income £12,500 from main job 100% of monthly or quarterly bonus/commission accepted for affordability (if consistent)
Maximum Age

70 years old

70 years old

Historic CCJ's & Defaults

Defaults: Under £350 for comms & utilities do not affect product tier.

Although Tandem don’t count CCJs/defaults <£750, they are still considered for affordability. Is that just any committed payment or would we take the balance outstanding (if no payment agreed)

– Tandem would include any monthly payment that the applicants are making to any CCJs or Defaults in the I&E. Also, if it’s within 2 years and they’re not making a payment, we would put 1% of the balance in as a payment for affordability.

All other unsecured account missed payments ignored if total balance of credit agreement under £500

Communications, Mail Order, Utilities missed payments (considered for criteria, not affordability purposes)

Mortgage and secured loan arrears are considered based on the product tier criteria

Tandem Zero is for applicants with 0 defaults, CCJs or missed mortgage payments in the last 24 months
Tandem One is for clients with up to 1 default, 1 CCJ and 1 missed mortgage payment per applicant.
The same rationale applies to Tandem Two and Tandem Three tiers.

Defaults: Under £350 for comms & utilities do not affect product tier. Although Tandem don’t count CCJs/defaults

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type:
Property Type:
Max Age: max-age-70-75
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min):
Under 85% LTV: £500,000
Over 85% LTV: £350,000 (Tandem Zero) £300,000 (Tandem One)
Max LTV 90% LTV
5 years
35 years
Yes, considered. Note, a personal loan as deposit can be considered.
Yes, considered Note, a personal loan as deposit can be considered.
6 months

First time buyers are considered as: - Applicants without a mortgage for more than 36 months.
Yes, required.
Maximum 85% LTV for houses and flats
Our definition of a new build is any property that has been built in the last 2 years.
Our maximum exposure is 10% per new build site.
Houses & Flats yes.
Minimum 51% private ownership required in blocks & subject to valuers comments.
No
No
See plan details. Max status1 in last 12, Max status 2 in moths 13-24
Paid direct to lender at the lenders fee scales, found on both the lender website and product guide.
21 years old
2
Access to Tandem available via 3mc as your mortgage packager or mortgage club.
Latest years’ figures used for self-employed customers, potentially including retained profits for Ltd Co Directors but: -

Must have been trading for 3 years -
Evidenced by latest SA302, HMRC & Accts certificate.

Contractors/CIS/Agency permitted on Tandem One, Two & Three

When taking rental income into account does the applicant need to have been a landlord for 3 years? Or just the latest SA302?
- If the use of rental income is being used as additional income, Tandem just need to see 1 years SA302’s/ tax calculations and the HMRC Tax overview statement but if it were the applicant’s sole income, it would refer to our self-employed criteria and they would need to have been trading for 3 years under same company name etc.

Full Details

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Bluestone Mortgages

Property Value

£75,000 - standard cases

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000
Income

No minimum income required.

Bonus/Overtime/Commission
• 50% of income used to calculate affordability unless fully guaranteed where we can accept 100%

Working family tax credit is considered but must have 2 years left and will require the latest award letter and to be evidenced on bank statements.

****
Sapphire Club: -
Accept 75% of benefit income (DLA, Carers Allowance, Child Benefit, WFTC) if 2 years remaining and not primary source of income

Max 30% of household income

In order to obtain over 4.5x income: -

• Bluestone monthly mortgage payment must be equal to, or less than 90% of the current mortgage / rental payment
• Full 12 month payment history required
• In these cases, an LTI ratio of over 4.5x will be available
• Available across all residential credit tiers, including Help to Buy and Right to Buy, with no LTV restrictions.

See employment and self employment below for further details.

No minimum income required. Bonus/Overtime/Commission • 50% of income used to calculate affordability unless fully guaranteed where we can accept 100% Working family tax credit is considered but must have...
Maximum Age

Max age of 75 at the end of the term. Lending into retirement will be deemed as the earlier of: • The customers anticipated retirement age • Age 70 If the mortgage extends into retirement or beyond the age of 70, evidence will be required to demonstrate that the mortgage will be affordable throughout the life of the loan as follows: • For customers aged 50yrs or less than 20yrs until retirement, satisfactory evidence of future income will be required, such as a pension statement. We may consider using pre-retirement income only beyond age 70, to a maximum age of 73 for skilled professionals, for example: • Specialist Consultants in Finance • Legal Practitioners • Doctors / Medical Practitioners including support staff • Business Owners Age 70 for manual workers and 75 for non-manual but underwriter discretion can be applied up to 80 by exception alone.

Max age of 75 at the end of the term. Lending into retirement will be deemed as the earlier of: • The customers anticipated retirement age • Age 70 If...

Historic CCJ's & Defaults

Clear: - Defaults - 1 (satisfied) in 36 months
Value < £300 or telecom ignored (even if in last 6 months)
Recency: 0 in last 6 months; > 36 months ignored

CCJ's: - 0 in 36 months
Value < £300 or telecom ignored (even if in last 6 months)
Recency: - 0 in last 6 months; > 36 months ignored

• All accounts with a balance under £300 can be ignored
• Maximum of missed 2 payments in the last 6 months per account
• If the balance is over £500, the most recent payment must have been made

The customer cannot have more than 5 unsecured accounts in arrears at the point of completion.
The following can be ignored from the max of 5:
• Accounts where the balance is under £300
• Accounts that have defaulted and / or are part of a DMP / DAS

AAA
Defaults: - 1 in 36 months
Value: < £300 or telecom ignored (even if in last 6 months)
Recency: - 0 in last 6 months; > 36 months ignored

CCJ's: - 1 settled in 36 months
Value: < £300 or telecom ignored (even if in last 6 months)
Recency: 0 in last 6 months; > 36 months ignored.

AA
Defaults: - 2 in 36 months
Values: - < £300 or telecom ignored (even if in last 6 months)
Recency: - 0 in last 6 months; > 36 months ignored

CCJ's: - 1 in 36 months
Value: - < £300 or telecom ignored (even if in last 6 months)
Recency: - 0 in last 6 months; > 36 months ignored

A
Defaults: - 3 in 36 months
Value: - < £300 or telecom ignored (even if in last 6 months)
Recency: - 0 in last 6 months; > 36 months ignored

CCJ's: - 2 in 36 months
Value: - < £300 or telecom ignored (even if in last 6 months)
Recency: - 0 in last 6 months; > 36 months ignored

BBB
Defaults: - 4 in 36 months
Value: - < £300 or telecom ignored (even if in last 6 months)
Recency: - 0 in last 6 months; > 36 months ignored

CCJ's: - 3 in 36 months
Value: - < £300 or telecom ignored (even if in last 6 months)
Recency: - 0 in last 6 months; > 36 months ignored

Defaults and CCJ's ignored for
product selection purposes if
registered over 3 years ago or less
than £300.

Ignore all communications defaults / CCJs

None allowed in last 6
months.
The maximum number of unsecured debts that are in arrears at the point of application is 5, including active defaults

All telecom CCJ/Defaults ignored
All CCJ's/Defaults below £300 ignored
CCJ’s / Defaults ignored if > 36 months
0 missed payments on secured credit in months 0 - 12 and up to 4 missed for months 13 - 24

If defaults and CCJ are wrapped up in a Bankruptcy or IVA they can be ignored and we will just apply the IVA/Bankruptcy criteria - evidence of the bad debt wrapped up in the IVA/Bankruptcy is key

Clear: - Defaults - 1 (satisfied) in 36 months Value < £300 or telecom ignored (even if in last 6 months) Recency: 0 in last 6 months; > 36 months ignored CCJ's: - 0 in 36 months Value < £300 or telecom ignored (even if in last 6 months) Recency:...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type:
Property Type: type_single
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min):
£1,000,000 up to 75% LTV
85% LTV on Clear Range only - NOT available on help to buy.
95% LTV considered on new build properties - See "Deposit Unlock" product range up to £600,000.
5 years
35 years
Yes
Yes Below market value transactions are considered up to 5% - please ensure reasoning is checked with Bluestone.
6 months minimum ownership - unless for a probate or bridging scenario

For Probate - need to make sure that the person who will own the property is the true beneficiary via the will or letter from the solicitors which is preferred as wills are long.
Yes
Available for help to buy range only AND core range - 85% LTV on houses and 75% LTV on flats
Max LTV of 75% for new build flats

Unless, "Deposit Unlock" range which is up to 95% LTV (£600,000 max) - Houses and flats (the flats must be 2 bedrooms or more)

Builders Deposit
We can now accept 5% from the builder towards the customer deposit on new builds.
Houses - Yes
Flats - Yes
Yes - only when Bluestone are doing the forward purchase - they need the remortgage offer before Bluestone will offer.
No The maximum number of unsecured debts that are in arrears at the point of application is 5, including active defaults
Clear: - 0 in 13 - 24 months AAA: - 1 in 13 - 24 months AA: - 2 in 13 - 24 months A: - 3 in 13 - 24 months BBB: 4 in 13 - 24 months
Valuation fees paid direct to lender
20
4
Access to Bluestone Mortgages is to a selective panel of mortgage packagers
Minimum 12 months trading required.

For self-employed applicants, an Accountant's Certificate is NOT accepted as the sole proof of income

Foster Care Income
12 month history and evidence of income required.
Remittance slips or local authority reference used to evidence income
Latest 12 months income figures will be used to calculate affordability.

Self Employed Day rate contractors must have the contract in their personal name

If trading longer than 1 year, average is taken over the last 2 - 3 years.

Share of Dividends Yes
Share of Directors remuneration Yes
Share of directors car allowances Yes
Share of directors pension contributions Yes
Share of use of home as office Yes
Share of private health insurance No
Share of spouse's income (sole app) No
Operating profit No
Retained net profit 100%
• If income/profits are increasing year on year, the average of the last 2 years net profits will be used.
• If income/profits are fluctuating, average of the last 3 years should be used or the latest year’s net profit, whichever is the lower.
• If income/profits are decreasing, the lowest net profit figure should be used for the past 3 years, together with an explanation as to why profits are reducing.

Rental income
• Portfolio Landlords (4 or more properties): 100% of Net Rental Income after the portfolio is stressed at 125% of 5.50%
• Non-Portfolio Landlords: 75% of Net Rental Income

Full Details

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United Trust Bank

Property Value

£100,000 for core products & FIRST TIME BUYERS £75,000 at 60% LTV for 3mc exclusives - £100,000 for interest only

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£25,000
Income

Minimum Primary Applicant Income – £15,000 PA

FIRST TIME BUYERS - Max 80% LTV and £500k Loan Size
0-Status 2yr, 3yr and 5yr fixed rates
FTB must have three items of active credit at application (excluding comms/mail order)
Minimum £25k Income, Maximum 4.50 LTI and minimum £50,000 application total annual income
Minimum £100k property value
Available for Gifted Deposit, Gifted Equity and Purchase at Undervalue
Not currently eligible for FTB: Interest Only, RTB, HTB and Shared Ownership

If Interest only - minimum income is £50,000

Max DTI – 40%
Max LTI – 4.50 up to max LTV, however, 6.00 to 60% LTV product range
80% LTV - Primary income must be employed only, minimum 12 months in current role
5x income up to 85% on 0 range only.

United Trust Bank consider Joint Borrower/Sole Proprietor
Consider Single applications if married and rationale is accepted by underwriting.

Accept 100% of Foster Income, standard proof required.

When using income from property to support Residential Mortgage or Second Charge Loan applications, mortgage payments on investment property will need to be taken into account within the affordability assessment.

Minimum Primary Applicant Income – £15,000 PA FIRST TIME BUYERS - Max 80% LTV and £500k Loan Size 0-Status 2yr, 3yr and 5yr fixed rates FTB must have three items...
Maximum Age

85 years at the end of the mortgage term

85 years at the end of the mortgage term

Historic CCJ's & Defaults

CCJ's & Defaults:

Note: must meet unsecured credit, secured lending and CCJ & default criteria to be considered, please refer to product guide.

Assessed by number (whether satisfied or not) AND £-value.

All CCJ’s and defaults will be ignored if under £300

Ignore if under £300 mail order or Communications.

UTB-0 Range: 0 in last 2 years
Max of 5 over 2 years old, providing total is less than £5,000

UTB-1 Range: 1 in last 12 months
No max number over 1 year old, providing all in total less than £10,000

UTB-2 Range: 2 in last 12 months
No max number over 1 year old, providing all in total less than £15,000

Ignore Mail Order and Comms Defaults regardless of size or when registered.
No minimum number of active credit items for First Time Buyers.

UNSECURED adverse: If there are any accounts (no max number) that are currently in arrears, we will not count the arrears if the clients bring them up to date pre offer.

CCJ's & Defaults: Note: must meet unsecured credit, secured lending and CCJ & default criteria to be considered, please refer to product guide. Assessed by number (whether satisfied or not) AND £-value. All CCJ’s and defaults will be ignored if under £300 Ignore if under £300 mail order or Communications....

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type:
Property Type:
Max Age: max-age-70-75, max-age-76-80, max-age-81-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min):
£1,000,000 up to max LTV 85% - (85% LTV) UTB -0 - Status only. Including Interest only
£250,000 if property is unencumbered.
3 years
40 years
60 years remaining at the end of the mortgage term. However, by exception can consider up to 40 years by exception.
Yes, no vendor deposits
Yes - but if a gift of equity is to be used, then the applicant must have at least 15% deposit based upon the loan amount. So if £100,000 is the total loan amount, the applicant must be able to put in £15,000. The value of the property will be based on FMV minus the gifted deposit amount - the total will act as the LTV - 85% LTV maximum.
12 months mortgage history, 6 months in current – however, refer if slightly under these parameters.
Applicants will be classed as first-time buyers if there has been no mortgage found on a credit search for 6 years, this includes unencumbered properties.
Can consider less than 6 months if clients have had 12 months mortgage history - case by case basis
Yes, required.
Yes.

Purchases allowed off-plan, subject to re-inspection before completion.
Max 5% new build incentives, including builders deposit.
Evidence of an appropriate new build warranty, or certificate.
Yes, accepted.
No, not considered.
Not on all ranges - but do credit check No minimum credit score for First Time Buyers 1 & 2 Status Criteria • 0 Status – No change, no minimum Credit Score • 1&2 Status – New minimum 300 Equifax Navigator Credit Score
UTB-0: 0 in 3 months. 0 in 12 months, 0 outstanding. UTB-1: 0 in 3 months. 1 in 12 months. Max 1 outstanding. UTB-2: 0 in 3 months. 2 in 12 months. Max 2 outstanding. If the client doesn’t make a payment on their mortgage or secured loan on the due date, but makes this before the next payment is due then UTB wouldn’t treat this as arrears. Some lenders will report missed payments within 2 weeks of the payment being missed, if you can get a 12 month statement from the lender confirming due date and when it was paid can ignore from an arrears point of view.
Valuation fees paid directly to the lender at the lenders valuation fee scale AVM's available to £500k and 75% LTV on remortgages only, not purchases
18 years 25 years for Interest only repayment type.
2
Access to United Trust Bank is via mortgage packagers currently, one of which is 3mc.
Max 80% LTV for all self-employed applicants - only 0-Status, no other range.

Sole Traders: 100% of Net Profit. Partnerships/Limited Companies: 100% of all sustainable drawings or dividends in addition to any salary.

Contractor: -

Gross Annual Income will now be calculated at the day rate x 5 days x 48 weeks
A minimum 12m contract history with at least one renewal is required, along with 24m in a similar role. If less than 3m remain on the current contract, evidence of a renewal must be provided and signed by both parties.
Proof of Income:
Applicants paid by Employer or via an Umbrella Company: Last 2m payslips, supported by the latest P60 and latest 3m bank statements. Umbrella Company fees/costs will be deducted from Gross income.
Applicants paid via a pure income servicing Limited Company: Latest Accounts or Accountants Certificate, supported by the latest 3m personal and business bank statements. The company must be 100% owned by the Applicant and trading for a minimum of 12m.

Retained Profits and Directors Loans are not accepted.

Pension/Maintenance – 100% of all regular income.

Working Family Tax Credit, Child Benefit and Child Tax Credit – 100% of all income, providing there is a minimum of £25,000 total earned income across the application.

Sole trader to limited company: - where the client has only had a limited company for a short time but changed from being a sole trader we can consider with an explanation from the accountant (normally for tax reasons).

Full Details

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Family Building Society

Property Value

£120,000 (A small amount of flexibility on this between £100-£120,000)

100000-150000, 150001-10000000
Advance (min)

£45,000 (A small amount of flexibility can be applied to the amount on referral sometimes)
Income

Affordability Based no minimum
Furloughed Employees – We will use the 80% or 100% if topped up by employer subject to an employment reference confirming that they will be returning to their role. Extra caution will be taken with high-risk sectors such as Aviation.

100% of basic salary, shift allowance, car allowance and London weighting. 50% of guaranteed/ regular overtime/
bonus/ commission and profit related pay. FTB accepted.

1 Years self-employed provided the same line of work as before otherwise 2 years. If Limited Company can consider using Salary and Profit after tax if have more than 33% shareholding. Chartered Account Required on the accounts.

Multiple Income sources accepted but max 2 from employment (e.g could use State Pension, Private Pension, Investment and Rental all together)

Income from employment and benefit: -

No benefit income useable other than child benefit which is already within the affordability model when children are selected
Usual ages for taking earned income 70 but up to age 75 can be considered for suitable applicants
Pensions -
100% of State and Gtd Private Pension
Drawdown/SIPP and SAS Pensions - Work off Pot value minus any tax free cash element and then divide that figure by number of years client wants the mortgage over. NO requirement for that figure to be drawn on completion. These pots can be used from age 55.

100% of Investment Income on 2 years Tax Return. Lump Sum Investments - Up to 5% Capital Return can also be used as income as does not need to be declared on a tax return

100% of Rental Income on 2 years Tax Return
100% of Commercial Rental Income
Foreign Income can be considered - Subject to a exchange rate calculation of worst exchange rate last 10 years
Trust income can be considered

For Ex Pat's or for UK nationals: -

Yes - Case must be on Interest Only and must be lived in by Husband or Wife/ Partner/ Children only.

Israel based Ex pats are considered.

Family BS consider - UK nationals working abroad with families remaining in the UK and UK nationals working in the UK but paid in a foreign currency.

Note: -
Evidence of income Family BS consider

The most recent SA302 or online HMRC Self-Assessment Return showing the tax calculation of the income.
HMRC calculation of the tax due and the tax year overview showing the total tax due and how much has been paid.
The last 2 years of audited accounts prepared by a Certified or Chartered Accountant.
An accountant's reference or other corroborative information.
For Limited Companies, where applicants have a 33%+ financial stake in the business, we may consider their proportion of net profit and salary over the recent years.

Affordability Based no minimum Furloughed Employees – We will use the 80% or 100% if topped up by employer subject to an employment reference confirming that they will be returning...
Maximum Age

Max Age AT Application - C & I 90 and Interest Only 89. (5 Year Term max at these ages)

Max Age AT Application - C & I 90 and Interest Only 89. (5 Year Term max at these ages)

Historic CCJ's & Defaults

We are not an adverse lender but can consider 1 CCJ satisfied under £500 in the last 3 years. CCJ's are generally ignored if over 3 years old AND satisfied over 3 years ago

Defaults must have been satisfied 3 years+ ago.

1 x Communication issue can be referred provided it is under £500

We are not an adverse lender but can consider 1 CCJ satisfied under £500 in the last 3 years. CCJ's are generally ignored if over 3 years old AND satisfied over 3 years ago Defaults must have been satisfied 3 years+ ago. 1 x Communication issue can be referred provided...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type:
Property Type:
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:100000-150000, 150001-10000000
Income (min):
75% up to £500,000
60% up to £500,000 property value and 50% up to £750,000 (£1million inside Greater London Area) to allow for Desktop valuation.

Max Loan at 60% £1,500,000
Max Loan at 50% £3,000,000
Max Loan at 40% £3,000,000 plus (no maximum but subject to underwriting)
Capital Raise available to max LTV
5 years
40 years
Yes, considered
Max Age AT Application - C & I 90 and Interest Only 89. (5 Year Term max at these ages)
6 months as a rule however if bought with bridging finance these can be considered sooner subject to a suitable explanation (e.g. Unable to mortgage at the time of purchase).
Yes, required
Houses only max 75% LTV. May consdier Apartments inside M25 up to max 50%
****
Any incentives to be disclosed and will be discounted from price
Houses and Apartments: - Accepted up to product maximum LTV, subject to the following conditions:
Standard Construction Only
No Deck Access
Valuers Comments
When lending on new Residential whilst retaining existing property: -

Maximum 80% LTV, where the existing property is to be let and considered to be self-supporting.

Applications can be considered for the purchase of owner-occupied property, up to a maximum 80% LTV, where an existing owner-occupied residential property will not be sold and instead be let.

The deposit must be from the applicant's own resources, including any additional borrowing raised from the existing mortgage, and the letting must be on a formal recognised tenancy
basis.

It is expected that the client has requested Consent to Let from their current Lender
No
1 in last 12 months but 0 in last 6 months, 2 in last 36 months Mortgage Payment holidays – for BTL need to make the next payment before completion
Paid direct to the lender at the lender fee scales. Free Valuations on Residential Purchase and Remortgage cases up to £500,000 (Discount of £360 above that value)
18 years old
4 and can use all 4 incomes (Sometimes we will only use 3 incomes and treat 4th applicant as non-dependant as this can improve affordability especially if applicant 4 has a modest income amount)
Access to Family BS is available via selected packagers networks.
All self employed cases are assessed on individual merit, however, below are examples which would be considered normally: -

1 years figures/ SA302's/ Accounts is accepted - however, they must meet the below: -
2 years is normally required, although an applicant with 1 year’s accounting information can be considered if the applicant:

Where possible we work off the latest years figures but reserve the right to use a 2 year average

- Has a track record in the trade; or is
- Able to demonstrate guaranteed income within the next accounting period; or
Moved purely from ST to Ltd Co same sole Director

Contract Workers - Min Contract £75,000 - Can then work of Contract income 46 weeks x Day rate

Full Details

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Dudley Building Society

Property Value

£75,000

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£25,001

Mortgage lending exposure in any one property development is capped, where practicable, to 25%. Where this is residential Buy to Let or Shared Ownership, a maximum of 25% exposure is allowable in blocks of 4 flats or more. For blocks of 3 flats or less, we will only lend on one property.
Income

No minimum income but will be affordability based on "ONS" statistics
-
Unacceptable Income:
We will not take into account any income arising from Incapacity benefits, housing benefit, income support and job seeker’s allowance.
***
75% of Working Tax Credit
100% of Child Tax Credit & Child Benefit allowed if children aged 13 or under
100% of Disability Living Allowance allowed

• A purchase or remortgage with additional borrowing, with a Loan to income ratio equal to 4.49x, must pass the mortgage payment as a percentage of the disposable income affordability check held within the Society’s affordability calculator, in order to be accepted.
• A purchase or remortgage with additional borrowing applications, that has a Loan to income ratio of above 6.0x will no longer be accepted.

Consolidation of debt criteria (whether or not the property is mortgaged to Dudley BS, another lender or not mortgaged at all):
• Dudley can consider applicants who wish to raise additional funds as part of a re-mortgage or further advance
• Maximum loan-to-value of 75% for both repayment and interest-only applications
• Dudley can now consolidate other debts not related to home improvements
• For additional borrowing applications, we will review any history of previous debt consolidation exercises
• Dudley's approach to the settlement of debts from funds being raised is dictated by whether the mortgage would be affordable if the outstanding debt was not cleared
• Lending in retirement will be capped at 70% across all products. This will come into play if a retired (non-working) applicant is a party to the application
• Lending into retirement will be capped at 75% across all products. This will affect cases where an applicant will retire mid-term. For example, a 50-year-old applicant, planning on retiring at 75 but wanting a 40-year term. When determining an applicant’s retirement age, Dudley will use the stated retirement age on the application, Dudley underwriters will then assess whether it is feasible for them to continue working until what has been stated.

No minimum income but will be affordability based on "ONS" statistics - Unacceptable Income: We will not take into account any income arising from Incapacity benefits, housing benefit, income support...
Maximum Age

Up to maximum stated retirement age and no further. Lending into retirement must be at least 10 years away at the point of application.

Up to maximum stated retirement age and no further. Lending into retirement must be at least 10 years away at the point of application.

Historic CCJ's & Defaults

Applicant(s) must satisfy the following criteria:

Mortgage applications up to 75% LTV:
• No missed payments in last 12 months on any (previous or current) mortgage, other secured loan or rent, and no arrears in months 13-24 (counting backwards from the present date), where the cumulative amount overdue at any point reached three or more monthly payments. No current arrears.
• No more than 1 missed payment in last 12 months on any (previous or current) unsecured loan or credit card, and no arrears in months 13-24 (counting backwards from the current date), where the cumulative amount overdue at any point reached three or more monthly payments. No current arrears.
• A maximum value of CCJs registered more than three years prior to application (satisfied) of £5,000 and a maximum number of two instances.
• A maximum value of defaults registered within three years of application (satisfied) of £1,000 and a maximum number of three instances.
• A maximum value of defaults registered more than three years prior to application (satisfied) of £5,000 and a maximum number of three instances.

Other than that:
a) Three or fewer Communication supplier defaults of up to £150 each may be ignored for the purpose of calculation value under points 3 and 4 above (where an applicant has four or more, all of them will be taken into account).
A satisfactory explanation for any adverse credit (including any disregarded under point (a) must always be obtained.

- Will not accept applications which include more than 2 agreements being raised within the last 3 years.
- Will require all loans to have been settled at least 6 months prior to application.
- Will also require no new loans to be taken out within the last 6 months.
- A suitable explanation will also need to be provided behind the purpose of the loans.

Applicant(s) must satisfy the following criteria: Mortgage applications up to 75% LTV: • No missed payments in last 12 months on any (previous or current) mortgage, other secured loan or rent, and no arrears in months 13-24 (counting backwards from the present date), where the cumulative amount overdue at any...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type:
Property Type: type_single
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min):
£350,000 up to 95% LTV - no longer has postcode restrictions
£1,000,000 to 90% LTV for Capital and Interest
£1,500,000 to 85% for Capital and interest
£2,500,000 to 80% LTV for Large loan product only.

More than £1mill is only considered by referral only.
Holiday Homes or Second Homes up to 80% LTV

Self-Build
LTVs up to 85% for both the end value and land value
Larger maximum loan size for our Eco-Self build products from £500,000 to £1,000,000
5
40
Yes - unless for 90% LTV - must be own savings
Yes - unless for 90% LTV - must be own savings
6 months, exceptions by referral. Exit from Bridge loan considered.
Yes (unless Ex-Pat)
75% for houses, 75% for flats
We cannot accept a local authority or av ex-local authority flat and maisonette unless located within the M25, a maximum LTV of 65%, minimum £200k valuation and satisfactory valuer comments regarding demand and re-saleability.

Houses - Yes

Mortgage lending exposure in any one property development is capped, where practicable, to 25%. Where this is residential Buy to Let or Shared Ownership, a maximum of 25% exposure is allowable in blocks of 4 flats or more. For blocks of 3 flats or less, we will only lend on one property.
Credit check, do not credit score.
See defaults and CCJ's - explanations for Different LTV's
Valuation fees paid direct to lender at the lender fee scale.
18 years
4
Access to Dudley BS is available via selected packagers only.
1 years accounts accepted at 75% LTV.
2 & 3 years accounts required for all other products, exceptions by referral

Share of Dividends Yes
Share of Directors remuneration Yes
Share of directors car allowances - As long as evidenced
Share of directors pension contributions - As long as evidenced
Share of use of home as office - As long as evidenced
Share of private health insurance - As long as evidenced
Share of spouse's income (sole app) -As long as evidenced
Operating profit No
Retained net profit Not usually - at underwriters discretion
**As retained profit is looked at in exceptional circumstances then discuss the case and submit accounts before the application

Full Details

View Lender Page

LendInvest Mortgages

Property Value

£150,000 - London (excludes rest of the UK)
£75,000 - UK (excludes London)

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000
Income

Employed:
Last 3 months consecutive payslips (at the time of the application)
Last 8 weeks consecutive payslips if paid weekly (at the time of the application)
OR employers reference (if payslips are not available)
AND most recent P60
AND latest 3 month bank statements/ Open Banking showing salary

ZERO HOURS CONTRACT: -
P60 providing confirmation that the applicant has been employed by the same employer for at least 12 months
Last 6 months consecutive payslips (at the time of the application)
Latest 6 months bank statements showing salary

Self Employed: -
2 years company accounts (as provided by a qualified accountant) where available
OR 1 years company accounts where they have been filed in the last 9 months
OR if the applicant doesn’t maintain accounts, SA302’s (or equivalent tax calculation from HMRC self-service system) and tax year overviews
Accountant’s certificate (as provided by a qualified accountant)
OR if the applicant does not retain the services of an Accountant, or the Accountant’s qualification is not acceptable
SA302’s (or equivalent tax calculation from HMRC self-service system) and tax year overviews
Latest 3 months business bank statements
OR latest 3 months bank statements/ Open Banking showing salary.

Contractor: -
Last 3 months consecutive payslips (at the time of the application)
Last 8 weeks consecutive payslips if paid weekly (at the time of the application)
Current and previous contractual agreement
Latest 3 months bank statements/ Open Banking showing salary.

Lending into Retirement: -
Will be considered subject to additional due diligence

Other income: -
Will be considered if evidenced and sustainable in nature. E.g. Court mandated child maintenance.

LTI Ratio
Increased Income Multiple on all credit based products for higher earners (>£65k for single Applicants,
>£100k for Joint Applicants) based on affordability. Moving from traditional 4.49x to 4.99x

Key Worker Applicants considered for higher Income Multiple based on affordability. Moving from traditional
4.49x to 5.49x

Qualified Professional applicants considered for higher Income Multiple based on affordability. Moving from traditional 4.49x to 6.49x

Only one applicant needs to be a Key Worker or Qualified Professional to be eligible for these products

Income Evidence: -
Bonus/commission - Payslips (evidencing the period paid) and or P60

Non-regular bonus - Latest 12 payslips

Overtime - P60 and 3 months payslips

Profit from UK Property: -

1. 2 years company accounts (as provided by qualified accountant) where available OR 1 years company accounts where they have been filed in the last 9 months
OR if the applicant doesn’t maintain accounts, SA302’s (or equivalent tax calculation from HMRC self-service system) and tax year overviews

2. Accountant’s certificate (as provided by a qualified accountant) OR if the applicant does not retain the services of an Accountant, or the Accountant’s qualification is not acceptable SA302’s (or equivalent tax calculation from HMRC self-service system) and tax year overviews.
-----
Dividends on limited company - Refer to the self employed section.
Dividends must not exceed net profit. Any dividend that is distributed above the net profits will be excluded from the affordability assessment.
-----
Pension Income : - Latest 2 years annual pension statement
OR 12 months remittance advice slips, cross referenced to the latest bank statements.

Regular trust or investment income: -
Latest 2 years annual statement
OR latest 2 years portfolio statement and evidence of funds being transferred to the bank account.

Employed: Last 3 months consecutive payslips (at the time of the application) Last 8 weeks consecutive payslips if paid weekly (at the time of the application) OR employers reference (if...
Maximum Age

The maximum age limit at the end of the term of the loan is 75 years old. The maximum age at the application stage for applicants looking to borrow beyond age 70 must not exceed 55 years of age.

The maximum age limit at the end of the term of the loan is 75 years old. The maximum age at the application stage for applicants looking to borrow beyond...

Historic CCJ's & Defaults

Disregard communication and utility arrears up to £100

Resi 0
Registered Defaults: - 48 months+
Satisfied CCJs: - 48 months+

Resi 1
Registered Defaults: - 36 months +
Satisfied CCJs: - 36 months+

Resi 2
Registered Defaults: - 24 months +

Satisfied CCJs: - (0) 0 - 24 months
(1) 24 - 36 months
Max £2000

Resi 3
Registered Defaults: - (0) 0 - 12 months
(2) 12 - 24 months
Max £5000

Satisfied CCJs: - (0) 0 - 12 months
(2) 12 - 24 months
Max £2000

Resi 4
Registered Defaults: -
(0) 0 - 3 months
(2) 3 - 24 months
Max £5,000

Satisfied CCJs: - (0) 0 - 6 months
(2) 6 - 24 months
Max £2000

Unsatisfied CCJs: Subject to further consideration. Maximum product available LI Resi 2

Unsecured Credit Arrears: -
Resi 0
(0) 0 - 3 months
(2) 3 - 24 months

Resi 1
(0) 0 - 3 months
(2) 3 - 24 months

Resi 2
(0) 0 - 3 months
(2) 3 - 24 months

Resi 3
(0) 0 - 3 months
(2) 3 - 12 months

Resi 4
Underwriter Discretion

Disregard communication and utility arrears up to £100 Resi 0 Registered Defaults: - 48 months+ Satisfied CCJs: - 48 months+ Resi 1 Registered Defaults: - 36 months + Satisfied CCJs: - 36 months+ Resi 2 Registered Defaults: - 24 months + Satisfied CCJs: - (0) 0 - 24 months (1)...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type:
Property Type:
Max Age: max-age-70-75
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min):
£750,000 up to 90% LTV (Check product range) - Stretched LTIs up to 6.49x, which backs them to borrow enough for their first home
£1,000,000 up to 85% and 80% LTV.
£1,500,000 up to 75% LTV

LI0 - 4
LI Key Worker 0 - 2
LI Qualified Professional 0 - 1
5 years
40 years
Leasehold flats, and maisonettes with not less than 65 years remaining on the lease after the term of mortgage. Leasehold houses with not less than 65 years remaining on the lease after the term of mortgage.
Yes, 10% of own funds required. Gifted deposits can only be accepted from an immediate relative, full details of whom must be disclosed.
Considered - check with lender in first instance.
6 months minimum required, unless: -

If the property has been purchased within the last 6 months and if works have been carried out to increase the value when remortgaged at a value above the purchase price please provide a TR1 and Schedule of works on submission of the application.
Yes, required.

Must be a UK resident and have been resident in the UK for the last 3 years, or have a 3 year UK residential history and a permanent right to reside in the UK.
A property is considered a new build if the applicant is the first occupant of the property.

LendInvest will accept subject to being suitable security. LTV for new build properties is restricted to 75%.
Ex-Local Authority/Ex-MOD flats and maisonettes considered.
No
No, soft search at DIP, Full search at application.
Resi 0 48 months+ Resi 1 36 months + Resi 2 (0) 0 - 24 months (1) 24 - 36 months Resi 3 (0) 0 - 12 months (2) 12 - 24 months Resi 4 (0) 0 - 6 months (3) 6 - 24 months
Paid directly to lender at the lender fee scales.
21 years old
2
Via Strategic Partners only as your packager, of which 3mc are one.
2 years self employed required - 2 years companies accounts also required.

Please note: -

2 years company accounts (as provided by a qualified accountant) where available
OR 1 years company accounts where they have been filed in the last 9 months
OR if the applicant doesn’t maintain accounts, SA302’s (or equivalent tax calculation from HMRC self-service system) and tax year overviews

Full Details

View Lender Page

Precise Mortgages

Property Value

£50,000 or £150,000 in London postcode districts

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£25,001
Income

Min income £15000 for main applicant's primary income. Employed Primary income can be made from basic salary + 50% Commission/bonus/OT (key 100% into DIP). Monthly take average of last 3 months payslips. Quarterly or Annual - avg of last 2 years P.60. shift allowance - refer or key into the bonus section. 100% Car Allowance.100% Large town allowance

Furloughed employees: - Can be considered; 80% of income to a maximum of £2,500, with the use of any evidenced employer top-up over and above this

Bonus: - Reviewed on a case by case basis. If acceptable we will take 50% of regular bonus / commission

Bounce back loans: - reviewed on a case by case basis. Not acceptable as a source of deposit

Self employed Income support schemes - reviewed on a case by case basis. Not acceptable as a source of deposit

Zero hour contracts - not considered.

Additional income (ie once £15k achieved) can also accept:
100% Working/Child tax credits to max age 14yrs 11months. If joint application but show both applicants on award letter
50% CSA or Court order Maintenance (Do NOT key child benefit)
100% Pension income including state
50% Secondary jobs (max 60 hrs between all jobs)

Contractors. Umbrella companies or where the customer is paying their own tax and/or national ins will be treated as self employed. If Fixed term then will treat as employed and can be clients first contract as long as 12 months continuous min 6 months in same type of job. If less than 6 mths to run then letter of intent to extend is required.

Self Employed
Can consider up to ONE years figures regardless of how long trading up to 85% + lenders fee. Over 75% is subject to score so key one year, it will refer (check back in 2 hrs) if decline, then reduce to 75% LTV or copy DIP and add 2 years figures (then can consider up to 5 x income). Precise will work off the average or last year whichever is the HIGHER.
Proof of Self employment:
HMRC Tax Calc + Overview OR SA302 + Overview OR Accounts for Directors add together for total income 100% of: Salary + Dividends + Co. Car allowance + pension Contribution = Total that you key into the DIP

Changes in trading style ie Sole to LTD Co treated as continuous self employment

NOTE: underwriters reserve the right to ask for further information where necessary

Will allow clearing of tax bills: -

- The bill must be repaid in full on completion including penalties
- Satisfactory explanation as to why not paid
- Copy of the latest tax bill.

Min income £15000 for main applicant's primary income. Employed Primary income can be made from basic salary + 50% Commission/bonus/OT (key 100% into DIP). Monthly take average of last 3...
Maximum Age

70 years or 75 upon referral at DIP stage. The retirement age must be keyed as 75 and a note uploaded at DIP stage into the case confirming that the employers will confirm the clients ability to work to age 75. **** Second applicant max age 85 however to qualify the second applicant must be keyed as 'not working'

70 years or 75 upon referral at DIP stage. The retirement age must be keyed as 75 and a note uploaded at DIP stage into the case confirming that the...

Historic CCJ's & Defaults

Prime: Tiers 1 and 2
Defaults 0 in 24 months
CCJs 0 in 24 months

Almost Prime: Tiers 3 and 4
2 in 24 months (max £1,500 in 12 months, unlimited thereafter)
1 in 24 months (max £1,000 in 12 months, or £2,500 in 24 months)

Prime: Tiers 1 and 2 Defaults 0 in 24 months CCJs 0 in 24 months Almost Prime: Tiers 3 and 4 2 in 24 months (max £1,500 in 12 months, unlimited thereafter) 1 in 24 months (max £1,000 in 12 months, or £2,500 in 24 months)

Intermediary Status: da_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type: customer_individual, customer_ltd_spv
Property Type: type_single, type_hmo_upto_6, type_hmo_upto_8
Max Age: max-age-70-75
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min):
£1,000,000 70% LTV
£750,000 80% LTV
£500,000 85% LTV
5 years
35 years
No
Yes - they require a letter stating no repayment will be made. Precise will accept all gifted deposits monies from immediate family members, this can include step family, aunts and uncles - acceptable for FTB and subsequent buyers. Money must be a transparent gift that has originated in the EU and can be easily traced back to the originating source. Where a proportion (max 50% originates from outside the area and is from a non conflict area, Precise may consider on a case by case basis)
No - Where the client is purchasing at a sale of undervalue, can consider as long as they are contributing a minimum of 15% in addition to the discounted purchase price. This additional deposit cannot come from the vendor. They will require a gifted deposit letter to show this in all instances.
12 months minimum ownership before remortgage.
****
No Min ownership applies to properties that have been inherited and probate has been granted (Probate letter will be required on application) and also when exiting a Precise Bridge. In these instance key the DIP as per Precise's min ownership and upload a word document with full notes into the case
****
FTB definition is someone who has not owned a property for 18 months.
Yes - Non EEA Nationals must have been resident in the UK for the last 3 years and have permanent rights to reside in the UK.

EU Citizens

Applications submitted from 1st January 2021 where the applicant is an EU citizen they must provide a valid permanent residence document or evidence that settled or pre-settled status has been granted under the EU Settlement Scheme. This can be in the form of a letter from the Home Office confirming their settlement status or a Residence Card.

Settled status is awarded to EU citizens that can evidence a minimum of 5 years’ continuous residence in the UK, whereas pre-settled status applies to those who have not resided in the UK for 5 years. Those awarded pre-settled statuses can apply for settled status once the 5-year residence requirement can be met.
Max LTV New build houses and flats (including 5% builder incentive) + lender fees
****
Flats in blocks up to 20 storeys, with a commercial ground floor accepted.

Can consider 30 SQM Studio flats.

85% LTV available plus up to a 5% builders incentive on residential lending

S106 obligations considered

Mortgage offers valid for six months from the date of issue, if required we may extend for a further three months

Properties that have any MMC components can be considered providing the property was
constructed by one of the following companies:
Barratt Developments
Bellway
Berkeley
Bloor Homes
Bovis Homes
Crest Nicholson
Galliford Try
Persimmon
Redrow
Taylor Wimpey
If the property was constructed within the last 10 years it will need to benefit from one of the
following warranties:
Advantage HCI
Aedis Warranties Ltd
Building Life Plans
Buildzone
Checkmate (Castle 10)
CRL Management Ltd
International Construction Warranties (ICW)
LABC
N.H.B.C. Guarantee
Premier Guarantee Scheme
Professional Consultants Certificate
Protek
Zurich Municipal “New build”
Houses - up to maximum product LTV

No Flats/Maisonettes. Exceptions can be considered where the following apply; Block must have majority in private ownership, no balcony access in the block, good curb appeal and of standard construction.
In all circumstances for LTBs Precise will require a simultaneous completion OR the client will need to have moved out and rented the existing property for min 3 months. The client must be on the voters roll at their new residence and proof of 3 mths rent via bank statements and AST will be required. Max 80% LTV for either refinance on to a BTL or onward purchase. Precise can consider both or either transactions. Where only the onward purchase then 'consent to let' from the previous lender will be required
Yes - Experian only
Missed Mtg/Secured Arrears - Prime: Tiers 1 and 2 0 in 12 months, 1 in 36 months (worst status) Almost Prime: Tier 3 and 4 1 in 12 months, 3 in 36 months (worst status)
Valuation fees paid direct to lender at the lender fee scales
21 years
Will lend in England, Scotland (Postcode permitting) and Wales
2
Access to Precise Mortgages is through a selective panel of packagers, one of which is 3mc
Soft foot print at AIP
Can consider up to ONE years figures regardless of how long trading up to 85% + lenders fee. Over 75% is subject to score so key one year, it will refer (check back in 2 hrs) if decline, then reduce to 75% LTV or copy DIP and add 2 years figures (then can consider up to 5 x income). Precise will work off the average or last year whichever is the HIGHER.
Proof of Self employment:
HMRC Tax Calc + Overview OR SA302 + Overview OR Accounts

For Directors add together for total income 100% of: Salary + Dividends + Co. Car allowance + pension Contribution = Total that you key into the DIP

Changes in trading style ie Sole to LTD Co treated as continuous self employment

NOTE: underwriters reserve the right to ask for further information where necessary

Share of Dividends 100%
Share of Directors remuneration 100%
Share of directors car allowances 100%
Share of directors pension contributions - Can add the director's pension contributions to calculate gross income
Share of use of home as office - Can add a proportion of this to calculate gross income based on the directors shareholding
Share of private health insurance - Can add the directors contributions to calculate their gross income
Share of spouse's income (sole app) - Can add a proportion of this to calculate gross income based on the directors shareholding
Operating profit No
Retained net profit No

Full Details

View Lender Page

Pepper Money

Property Value

£70,000

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£25,001
Income

Min income must be overall £18,000 per application.

Employed Primary income can be made from basic salary.
All other income will be looked at but not used for the affordability calculation.
Accept 50% of bonuses, overtime and commissions yearly, quarterly, monthly and weekly.

************
Self Employed (Sole Trader/Partnerships)
• 1 Years final accounts plus 3 months personal and business bank accounts statements showing applicants share of net profit
• SA302s can be provided as long as they are supported by 3 months personal and business bank statements

For applicants who have been trading for less than two years, one year’s finalised accounts is acceptable. For applicants who have been trading for two years or more, two years’ accounts will be requested and the latest year’s figure will be used for affordability.
*************
Company Director
(Note: Shareholding = or < 25% treated as employed, shareholding
>25% treated as s/employed)
• 2 Years final accounts plus 3 months personal and business bank statements showing - this is required if more than 1 years trading.
* Add backs’ accepted for controlling Limited Co Directors, including pension contributions, car allowance, and use of home office, to boost affordability

Foster Carer income is acceptable. Applicants in receipt of P.A.Y.E payslips will be classified as employed. Those in receipt of a Remittance Advice from the relevant authority will be classified as self‐employed.

Can use ‘add backs’ for Limited Co Directors, including pension, car allowance and home office costs, to boost affordability

*************
Contractors: - (Who can evidence 12 months history of being day rate contractor. Only acceptable on a minimum of £200 day rate.
Day rate contractors must be in a contract and able to demonstrate a minimum 12 months’ history (daily rate x 5 x 46)

***Umbrella companies (Where client is being paid on a daily rate) will be classed a contractor)

Where the customer is paying their own tax and/or national insurance will be treated as self employed.

Applications from contractors may be accepted subject to the applicant being able to demonstrate a minimum of 12 months as a day rate contractor and must be currently, contracted.

Gross allowable income should be calculated on the following basis: -
Lower of 12 months average day rate amount OR current contract day rate amount x 5 (days per week) x 46 (working weeks)

Min income must be overall £18,000 per application. Employed Primary income can be made from basic salary. All other income will be looked at but not used for the affordability...
Maximum Age

75 years

75 years

Historic CCJ's & Defaults

(Unsecured missed payments: - ignore 1 individual utility, communication, or mail order account default up to and including £200.00 (Applicable to Pepper 36 & 36 Light products only).

CCJs
• Don't need to be satisfied
• Can be registered as recently as 12 months ago

Defaults
• Don't need to be satisfied and no value limit
• Can be registered as recently as
12 months ago
• 2 individual utility, communication or mail order account defaults up to and including £150.00 each ignored (applicable to Pepper 24, 18 and 12 products - excluding DMP)

Pepper 48 - Light: -
CCJ's - 0
Defaults - 0 in 48 months

Pepper 48: -
CCJ's/Defaults: 0 in 48 months

Pepper 36 - Light
CCJs: 0
Defaults: 0 in 36 months

Pepper 36: -
CCJs: 0 in 36 months
Defaults: 0 in 36 months

Pepper 24 - Light
CCJs: 0
Defaults: 0 in 24 months

Pepper 24: -
CCJs/Defaults: 0 in 24 months

Pepper 18 - Light
CCJs: 0
Defaults: 0 in 18 months

Pepper 18: -
CCJs/Defaults: 0 in 18 months

Pepper 12 - Light
CCJs: 0
Defaults: 0 in 12

Pepper 12: -
CCJs/Defaults: 0 in 12 months

(Unsecured missed payments: - ignore 1 individual utility, communication, or mail order account default up to and including £200.00 (Applicable to Pepper 36 & 36 Light products only). CCJs • Don't need to be satisfied • Can be registered as recently as 12 months ago Defaults • Don't need to...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type:
Property Type: type_single
Max Age: max-age-70-75
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min):
£1,000,000 up to 75%
£750,000 up to 80%
£750,000 up to 85%
5
35
Gifted deposits are acceptable from the following close relatives of the applicant(s): Parent/Step‐Parent/Parent‐in‐Law. Sibling. Child/Step‐Child/Son‐in‐Law/Daughter‐in‐Law. Aunt/Uncle. Grandparent/ Grandchild.
Yes, but client must have 15% of their own funds and this cannot be gifted from another family member.
6 months minimum ownership before remortgage
Applicants who are non‐UK citizens must have been permanently resident in the UK for the past three years and must have indefinite leave to remain in the UK.
****
UK citizens who are returning to the UK permanently are acceptable.
Applications from Foreign Nationals are acceptable, however all applicants must:
Live and work in the UK (UK citizens working abroad are acceptable where their main residence is in the UK and they are a UK taxpayer).
Be UK taxpayers (where income is being used in support of the application).
Have resided in the UK for the last 3 years.
Applicants residing in the Isle of Man and Channel Islands are not acceptable.
Non‐UK citizens (UK & European Union (EU) Nationals and Non‐European Union Nationals) must provide evidence of a minimum employment history of 3 continuous years in the UK(where income is used in support of the application).
Non‐European Union citizens must provide evidence confirming indefinite rights to remain in
the UK and have a statutory right to work in the UK.
Houses - Yes
Flats - No
*********
Pepper will consider Wimpey No Fine and Lang Easy Form even though no they are non-standard construction. This is on a case by case basis and is referred to an internal property team within Pepper.
Houses considered
Houses: Private and ex Local Authority or social housing
Flats & Maisonettes: Privately only - not council or housing

Flats/Maisonettes - not accepted, including the below:
Flats in Local Authority or ex Local Authority owned blocks
New build flats/maisonettes
Flats with a gross external floor area less than 35m2
Studio flats
Freehold flats
Balcony access
No, only on the forwarding residential purchase.
Pepper Money credit check, not credit score
Product range dependent: - Minimum (No arrears balance in last 6 months) - Depending on when arrears occurred will determine product range. I.e. missed payments outside of 48 months, then Pepper 48, 36, etc.
Valuation fees paid direct to lender
21 years old
2 applicants
Access to Pepper Money is available via selected packagers & distributors
Self Employed (Sole Trader/Partnerships)
• 1 Years final accounts plus 3 months personal and business
bank accounts statements showing applicants share of net profit

• SA302s can be provided as long as they are supported by 3 months personal and business bank statements

* Add backs’ accepted for controlling Limited Co Directors, including pension contributions, car allowance, and use of home office, to boost affordability

Share of Dividends Yes - minimum 25% shareholder
Share of Directors remuneration Yes - named shareholder
Share of directors car allowances Yes
Share of directors pension contributions Yes
Share of use of home as office Yes
Share of private health insurance Yes
Share of spouse's income (sole app) No
Operating profit No
Retained net profit No

Finalised accounts will be required where additional remuneration is to be added back.

Full Details

View Lender Page

Kent Reliance

Property Value

£75,000 minimum (£125.000 if Shared ownership)
Can consider day 1 remortgages

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000
Income

No minimum income. Affordability calculator used for income. 100% of basic salary 50% of regular overtime, bonus or commission. 100% of maintenance by court order(child under 13). 3 years self-employed using dividends, drawings OR share of net profit if no salary and dividends are taken, not both.

Contractors: -

Current contract must have at least three months remaining
at application.

Applications must be able to evidence at least one renewal
with a minimum 12 months sector experience (either as
contractor or PAYE employment).

Can go up to product maximum LTV

Copy of latest and previous contract

No minimum income for contractors on either prime, or the near prime range

Current contract must have at least 3 months remaining at application

Applications must be able to evidence at least one renewal with a minimum 12 months sector experience (either as contractor or PAYE employment)

3 months personal and business bank statement must be provided

Copy of latest and previous contract

Projection for the second year income from a suitably qualified accountant can be considered where a suitable business plan is provided. The level of projected income used can be up to a level of 30% greater than the year one figure.

No minimum income. Affordability calculator used for income. 100% of basic salary 50% of regular overtime, bonus or commission. 100% of maintenance by court order(child under 13). 3 years self-employed...
Maximum Age

85 years

85 years

Historic CCJ's & Defaults

All CCJs & defaults must be paid prior to the application or must meet the ignore CCJ/default criteria

Up to 2 defaults and 1 CCJ considered in last 2 years (not counted where registered over 24 months)

Ignore CCJ/default criteria: 12 months prior to application OR registered >24 months whether satisfied or not.

CCJs/Defaults: - 0 in 24*
Secured arrears: - 0 in 24*
Unsecured arrears: - 2 in 12 and must be up to date

**All CCJs & defaults must be paid prior to the application or must meet the ignore CCJ/default criteriaIgnore CCJ/default criteria: 12 months prior to application OR registered >24 months whether satisfied or not

All CCJs & defaults must be paid prior to the application or must meet the ignore CCJ/default criteria Up to 2 defaults and 1 CCJ considered in last 2 years (not counted where registered over 24 months) Ignore CCJ/default criteria: 12 months prior to application OR registered >24 months whether...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_hmo_upto_6, type_hmo_upto_8
Max Age: max-age-70-75, max-age-76-80, max-age-81-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min):
£750,000 up to 90%
£3,000,000 up to 85%
£3,000,000 up to 75% LTV
5 years
35 years
No
Yes
Yes
6 months minimum ownership before remortgage considered.

Day 1 remortgage accepted on the following basis: -

• Lending can be based on current property value – if verified works have been carried out and evidence provided. If not, the loan will be assessed at the initial purchase price
• Maximum 75% LTV
• Standard pricing to apply
• Customer(s) to be on the voters roll for residential applications

Kent Reliance (One Savings Bank) will: -

• Undertake a Land Registry Search to confirm the applicant(s) owns the property
OR
• Where this is not available, request confirmation of the Land Registry submission confirming the purchase, date and price via the acting solicitor

Not available for New-build purchases – defined as properties that are less than two years old (from the date of practical construction) which have not been lived in.
Only accept permanent rights to reside. If EEA national, will need to have been in the UK for a minimum of 36 months before able to apply for mortgage
Tier 2 Visa - on a case by case basis, Tier 2 Visa’s can be considered on case merit. Subject to product loading.

EU Citizens

Applications submitted from 1st January 2021 where the applicant is an EU citizen they must provide a valid permanent residence document or evidence that settled or pre-settled status has been granted under the EU Settlement Scheme. This can be in the form of a letter from the Home Office confirming their settlement status or a Residence Card.

Settled status is awarded to EU citizens that can evidence a minimum of 5 years’ continuous residence in the UK, whereas pre-settled status applies to those who have not resided in the UK for 5 years. Those awarded pre-settled statuses can apply for settled status once the 5-year residence requirement can be met.
New Build houses up to 75% LTV and flats accepted to 75% LTV.
Houses - Accepted to 75% LTV.
Flats - Considered, but on a case by case basis - 75% max LTV
No
Missed mortgage payments - 0 in last 6 months and currently up to date
Paid direct to lender at the lender fee scales
18 years
Will lend in England and Wales.
4
Access to Kent Reliance For the Near Prime Residential Range is on a packaged basis only
Soft foot print, hard foot print upon full application
All self employed applicants will be reviewed - upon DIP submission.

Self employed applicants with 1 years accepted (up to 75% LTV)

Income to be based on the finalised accounts prepared by the accountant acting for the business who must be suitably qualified;

Projection for second year income must be provided by the accountant; second year projection can be used if no more than 30% growth.

3 months personal and business bank statements must be provided;

Self-assessment returns or SA302 are NOT accepted as proof of income;

Income will be verified by means of an accountant’s reference.

Only accept Salary and dividends not net profit

Share of Dividends Yes
Share of Directors remuneration Yes
Share of directors car allowances Yes
Share of directors pension contributions Refer to BDM / u/w
Share of use of home as office No
Share of private health insurance No
Share of spouse's income (sole app) No - but it could be used as an argument to do a case - refer to BDM
Operating profit Potentially - refer to BDM
Retained net profit Yes - if figures are increasing can look at latest years

**Can consider looking at net profit plus salary if 100% owner of business

Full Details

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Aldermore Mortgages

Property Value

£60,000

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£25,000
Income

£10,000 pa for residential.
100% of basic salary, shift allowance, car allowance and London weighting. 50% of guaranteed/ regular overtime/
bonus/ commission and profit related pay. FTB accepted. 1 Years self- employed.

(Can only accept a maximum of two sources of income per applicant.)

£10,000 pa for residential.
100% of basic salary, shift allowance, car allowance and London weighting. 50% of guaranteed/ regular overtime/
bonus/ commission and profit related pay. FTB accepted.

1 Years self- employed up to 90%

(Can only accept a maximum of two sources of income per applicant.)

Income from employment and benefit: -

Benefit income Up to 100% of benefit income:
Universal Credit
Working Tax Credits (WTC)
Child Tax Credit (CTC)
Income-related Employment & Support Allowance (ESA)

FYI: 100% of evidenced income on overtime, bank nursing, universal credit, working tax credit, child tax credit and disability allowance
75% of evidenced income on commission and bonus.

Contribution-based Employment & Support Allowance if in the ‘Support Group’

Incapacity Benefit
Severe Disability Allowance
Industrial Injuries Disablement Benefit (IIDB)
Disability Living Allowance (DLA)
Personal Independence Payment (PIP)
Carer’s Allowance
Constant Attendance Allowance

Aldermore will not accept any income derived from other forms of state benefit that are not listed above.

Other income accepted: -

Income from trust funds
Occupational pension income
Guaranteed income payments under the Armed Forces Compensation Scheme
War widows or widowers pension
War disablement pension

State pension (not acceptable where state pension is the only source of income)

Investment income

Rental income (where supported by accounts or SA302s)

Maintenance Payments (if CSA/court order enforceable and supported by 6 months bank statements)

Foster Care Income

(LTI) up to 5.5x income for individuals or joint applicants has increased. Applicants must now have a total allowable income of at least £60,000 to access this LTI

For Debt Consolidation: -

For property related purposes can be considered up to a maximum LTV of 90% (excluding fees)
For non-property related purposes can be considered, up to a maximum LTV of 80% (excluding fees)
Capital raising for payment of taxes and consolidation of debts that have not been maintained satisfactorily is not permitted.

£10,000 pa for residential. 100% of basic salary, shift allowance, car allowance and London weighting. 50% of guaranteed/ regular overtime/ bonus/ commission and profit related pay. FTB accepted. 1 Years...
Maximum Age

75 or their declared retirement age, whichever is lower, for capital repayment mortgages.

75 or their declared retirement age, whichever is lower, for capital repayment mortgages.

Historic CCJ's & Defaults

Level 1 - CCJ's - if 0 in last 36 months then CCJ's do not need to be satisfied if none are recorded in this time.

Over 36 months, needs to be satisfied for 36 months if total combined value is over £500.

Defaults - 0 in last 12 - Max 1 recorded (up to £300) in last 36 months

Level 2 - Defaults and CCJ's - 0 recorded in last 18 months
Unsecured loan arrears maximum status 2 in last 12 months – latest month up to date

Level 3 -
Defaults & CCJ – 0 recorded in last 6 months
Unsecured loan arrears maximum status 3 in last 12 months – latest month up to date

Level 1, 2 and 3.
• Combined defaults & CCJs up to £300 ignored
• All communication defaults ignored
• Debt management plans considered when satisfactorily maintained for the last 12 months

Level 1 - CCJ's - if 0 in last 36 months then CCJ's do not need to be satisfied if none are recorded in this time. Over 36 months, needs to be satisfied for 36 months if total combined value is over £500. Defaults - 0 in last 12 -...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type:
Property Type: type_single, type_multi_upto_5, type_multi_over_5
Max Age: max-age-70-75
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min):
£500,000 to 85%-95% LTV (Owner Occupied only)

£1,000,000 to 80% LTV

£1,000,000 to 75% LTV

Maximum 75% LTV for Interest Only (refer to product guide for full details)
Capital raising up to product maximum LTV accepted.

5.5 LTI ratio: for individuals or joint applicants with a total allowable income of at least £50,000

Note the following: - If a property is outside the M25 then max loan is up to £750,000 regardless of LTV.

Inside the M25 up to £1m
10 years
40 years
Yes Aunt/uncle, foster parent or legal guardian now also accepted.
Yes, but 5% has to come from the applicant(s)
Remortgages within the first six months of the original purchase date are not normally acceptable. Remortgage from bridging - Remortgaging out of bridging finance will be subject to the length of ownership. Less than 6 months: restricted to the amount required to repay existing facility plus 100% of documented improvement cost, subject to ownership period of at least 1 month. Greater than 6 months: capital raising allowed over and above the sum required to redeem the bridging loan, based on any enhanced value of the property.
Owner-occupied, max LTV is 85%
Yes
Houses and flats accepted
Houses: - Accepted up to product maximum LTV, subject to the following conditions:
No outstanding pre-emption requirement to repay a proportion of the discount
Valuer indicating that there is evidence of a meaningful level of private ownership within the estate
The property being of standard construction
*****
Flats: -
Minimum property value of £100,000 (£200,000 in Greater London)
Maximum of 3 floors above the ground floor. Secure communal access with no balcony access arrangements
No
Level 1 - 0 in last 3 months 1 in last 12 months (max 2 in last 24) 1 Months evidence of mortgage payments holiday required. Level 2 - Mortgage or secured loan arrears – 0 in last 18 months Level 3 - Mortgage or secured loan arrears – 0 in last 6 months
Paid direct to lender at the lender fee scales.
21 year old
2
Access to Aldermore Mortgages is direct to lender with 3mc selected as your payment route
1 years figures/ SA302's/ Accounts is accepted - however, they must meet the below: -
2 years is normally required, although an applicant with 1 year’s accounting information can be considered if the applicant:

- Has no history of payment arrears, defaults, CCJs or other adverse information in the last 3 years on personal and business
credit search; and

- Has a track record in the trade; or is
- Able to demonstrate guaranteed income within the next accounting period; or
- The business is an ongoing concern and sustainable; or is
- Able to provide management accounts for at least the first 6 months of the current financial year
- If appropriate, VAT returns for the two previous quarters are to be supplied
- Personal and business bank statements for at least the previous 3 months
- Income will be based on the profit or salary/dividends for the first year of trading
- Will consider salary and % of net profit for the most recent year. In summary they will use the best option, so salary and dividends or net profit adding back in salary for limited company

Full Details

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The Mortgage Lender

Property Value

£62,500 (for products assumes max 80% LTV).
£120,000 London & South East
£120,000 for HMO
£150,000 for properties above commercial premises

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£25,000 - on smaller loan range
£75,000 on other ranges
Income

£15,000 for applicant 1. No min income for applicant 2

Earned income and only 25% of income can be benefits.

100% basic / pension / Car allowance / 100% - O/T / bonus / commission / allowance - if the last 3 months payslips do not support the value given in full then further payslips or P60 will be requested.

Consider child benefit for children up the age of 13 - 100%

Maintenance (maintenance needs to be via a court order and needs to be evidenced that they will be receiving it for the next 5 years).

75% of Working Tax Credit / Child Tax credit / Universal credit equivalent) for children under the age of 13. MUST BE MAX OF 25% OF EARNED INCOME

Where the benefit amount is higher than 25% of the total income, the benefit income will be capped at 25% of total income and affordability will then be calculated using 75% of this capped income total.

Accept 50% of investment income

Ltd Company Director / Shareholder - can either use net profit before corporation tax plus salary OR Salary & dividend

TML also Consider applicants with just three months of contracting (with 12 months previous employment in a similar role)

Where an applicant has defaults, TML will not include the payment amount in the affordability calculation, except where the applicant is currently paying.

Can consider Finance contractors - same criteria applies to current contractors.

Large Loans: -

• Loans available between £500,000 and £1,250,000
• Interest Only (up to 75% LTV)
• Sale of residential property acceptable repayment method
• Up to 5x LTI on Large Loans, if loan is greater than £1m on a Capital & Interest Repayment basis only

£15,000 for applicant 1. No min income for applicant 2 Earned income and only 25% of income can be benefits. 100% basic / pension / Car allowance / 100% -...
Maximum Age

80 years (at the end of the term) as long as the applicant’s retirement income supports the lending requested

80 years (at the end of the term) as long as the applicant’s retirement income supports the lending requested

Historic CCJ's & Defaults

RL0 0 in 36 months – on ALL CCJ’s/Defaults/Unsecured/Secured

RL1 0 in 36 months

RL2 - 1 in 36 months (0 in 6) CCJ's & Defaults
Ignore CCJ <£300

RL3 - 3 in 36 months (0 in 6 months) Ignore CCJ < £300
Defaults: - 4 in 36 months (0 in 6 months)

RL1-5 Maximum 2 missed payments in last 6 months allowed on each unsecured credit agreement. Arrears ignored if the current balance is under £500.

No CCJ’s or defaults in last 6 months.
Utility and Communications defaults are not considered adverse credit.

Unsecured arrears ignored if the current balance is under £500.

Unsecured arrears - Maximum 2 missed payments in the last 6 months allowed on each unsecured credit agreement.

Where an applicant has defaults, TML will not include the payment amount in the affordability calculation, except where the applicant is currently paying.

RL0 0 in 36 months – on ALL CCJ’s/Defaults/Unsecured/Secured RL1 0 in 36 months RL2 - 1 in 36 months (0 in 6) CCJ's & Defaults Ignore CCJ

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type:
Property Type:
Max Age: max-age-70-75, max-age-76-80
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min):
£1,250,000 up to 75% on Large Loan range
£1,000,000 up to a maximum 75% LTV (Above on referral)
£750,000 up to a maximum 80% LTV
£600,000 up to 85% LTV
£600,000 up to 90% LTV

95% LTV on Shared ownership range.

The maximum loan on a new build property with a builder’s deposit/incentive that is not being deducted from the purchase price is £600,000.
5 years
40 years
Yes with letter confirming the amount and it is a gift not a loan
• Gifted equity from parents, grandparents, siblings, aunts and uncles accepted (including step and adopted relationships)* • Max 75% LTV not avail on RL7 assessed on property valuations.
6 months
Yes -

UK and EEA nationals: -

Full 3 years residential history required.

Non-EEA nationals (considered on a case by case basis)

Must be resident in the UK for the last 3 years and have the permanent right to reside.

Diplomatic immunity is not allowed.

Non UK Nationals For all non UK nationals a certified copy of a passport is required.
Yes - up to 85% LTV - Up to 5% builder deposit acceptable.
Contract of sale required 5% builder incentive acceptable.
Contract of sale required.
This includes any deposit element
The maximum loan on a new build property with a builder’s deposit/incentive that is not being deducted from the purchase price is £600,000.
Offers valid for 6 months, subject to valuation/reinspection
Ex local authority houses are acceptable within normal criteria up to 75% LTV except where the majority of houses remain in local authority ownership (as confirmed by the valuer) - 85% by exception only

Ex-Local Authority - Flats (England and Wales)

Will consider lending on Ex-Local Authority properties in England and Wales, subject to the following criteria:

• Minimum valuation of £70,000 - outside of London and the South East.
• Minimum valuation of £150,000 - in London and the South East.
• Maximum 75% LTV
• Traditional construction only (as opposed to core criteria where non-traditional properties are allowed).
• Maximum 5 floors in block, except in London and the South East, where the maximum allowed is 10.

Ex-Local Authority Flats (Scotland)

Will consider lending on Ex-Local Authority properties in Scotland, subject to the following criteria:

• Minimum valuation of £70,000
• Maximum 75% LTV
• Traditional Construction only (as opposed to Core Criteria where non-traditional properties are allowed).
• Maximum 5 floors in block.
No, including RL0 But do have a minimum credit score which is very low. Credit score will not be used to determine product rate, with the exception of 90% LTV where a minimum credit score of 450 is required for RL0 and 375 for RL1.
RL0 - 0 in 36 months RL1 - 0 in 24 months RL2 - 1 in 24 months and 0 in last 12 RL3 - 2 in 24 months (0 in last 12) RL4 – 3 in 24 months (0 in last 12) RL5 - 4 in 24 months, 0 in last 12 months. Secured arrears will be assessed on missed payments No missed payments in last 12 months on secured loans.
Valuation fees paid direct to lender and a processing fee of £95 at application to 3mc
21 years
2
Access to The Mortgage Lender is through a selective panel of packagers, one of which is 3mc
TML also consider applicants with just three months of contracting (with 12 months previous employment in a similar role)

Trading 12-24 months: -
Maximum 85% LTV
Most recent year's evidence required

Trading >24 months
Maximum 85% LTV
Most recent 2 years' evidence required

Minimum trading time 12 months.
Latest 3 month's business bank statements and 1-month personal bank statement. Additional statements may be required.

Evidenced using:
Most recent year's certified accounts OR
Tax Calculation with corresponding Tax Year Overviews OR
SA302's

TML WILL NOT accept an accountant's certificate/reference.

If certified accounts are provided with these must be completed and returned from a qualified accountant with Acceptable accountant qualifications: ACA/FCA, ACCA/FCCA, ACCIMA/
FCIMA, CIPFA, ACMA. Accountant must hold a current practising certificate.

Contractors: -
Income calculation of up to a maximum of weekly rate x 48.
Existing contractors: Must have been contracting for a minimum of 12 months.

TML will only accept applications at present from existing contractors, not new contractors.

Current contract must be for a minimum of 6 months. Payslips and/or invoices supporting the contract and bank statements are required.

For any contract with a term less than 3 months remaining, confirmation to be provided from the applicantsâ€™ employer that their contract will be renewed and TML is satisfied with the applicants contracting history, if requested.

Renewal of contracts: Where the current contract length is less than 6 months and there is a history of renewal covering a 6 month period, with the same company, then this can be considered on a case by case basis. Contractors do not qualify for RL7 and RL8 products.

Full Details

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Vida Homeloans

Property Value

£70,000 for all property types
Ex Local authority flats/maisonettes (80% LTV)
£80,000 outside Greater London, £200,000 within.

Scotland properties - £70,000 - however, please note, minimum loan is £50,000 and this includes properties with cladding.

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000

Up to 6 x loan to income ratio
Income

£15,000 for applicant 1, not joint.

5.5x income for Key Worker Range
Available to those employed in essential public sector roles: Armed Forces Personnel (Army, Navy, RAF), Firefighters and Police Officers, NHS Clinicians (including Nurses and Paramedics), Teachers and Lecturers in the public sector.

£15,000 for applicant 1, not joint. 5.5x income for Key Worker Range Available to those employed in essential public sector roles: Armed Forces Personnel (Army, Navy, RAF), Firefighters and Police...
Maximum Age

Maximum retirement age for any applicant is 80 years. Plausibility for working to loan maturity should be evidenced in all cases. Vida as an interim measure, will not lend if applicant/s are in receipt of pension income or beyond Retirement Criteria maximum age of 70 at the end of the term, or age at end of term is beyond customer’s expected retirement age (whichever is the sooner). Applicable to all individual applicants e.g. if more than one applicant on the application

Maximum retirement age for any applicant is 80 years. Plausibility for working to loan maturity should be evidenced in all cases. Vida as an interim measure, will not lend if...

Historic CCJ's & Defaults

Vida 48, Registered CCJs: 0 in 72 months / Registered Defaults: 0 in 48 months. No unsatisfied CCJ's (unsecured arrears last 6 months - 0)/

Vida 36, Registered CCJs: 0 in 36 months / Registered Defaults: 0 in 36 months. No unsatisfied CCJ's (unsecured arrears last 6 months - 1)/

Vida 24, Registered CCJs: 0 in 24 months / Registered Defaults: 0 in 24 months. Max £1000 unsatisfied CCJs (unsecured arrears last 6 months - 2)/

Vida 12, Registered CCJs: 0 in 12 months / Registered Defaults: 0 in 12 months. Max £2,500 unsatisfied CCJs (unsecured arrears last 6 months - 2)/

Vida 6, Registered CCJs: 0 in 6 months / Registered Defaults: 0 in 6 months. Max £5,000 unsatisfied CCJs (unsecured arrears last 6 months - 3)/

Vida 48, Registered CCJs: 0 in 72 months / Registered Defaults: 0 in 48 months. No unsatisfied CCJ's (unsecured arrears last 6 months - 0)/ Vida 36, Registered CCJs: 0 in 36 months / Registered Defaults: 0 in 36 months. No unsatisfied CCJ's (unsecured arrears last 6 months - 1)/...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_trading, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8
Max Age: max-age-70-75, max-age-76-80, max-age-81-85
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min):
£1,000,000 up to 85% LTV up to Vida 6

£750,000 up to 80% LTV (Max LTV in Scotland)

£2,000,000 to 75% LTV

£2,000,000 up to 70% LTV

Large loan range £500,000 to £2,000,000

100% debt consolidation is considered up to a maximum of 85% LTV

Help to buy limits: - £600k England / London, £300k Wales, £200k Scotland
5 years
45 years
C&I loans minimum of 40 years lease remaining. I/O 70 years remaining
No
Accepted from close relatives: - Parent, Child, Grandparent, Spouse/ Partner, Sibling, Aunt/ Uncles Cousins, Niece/ Nephew, Step relatives, Foster Parent or Legal Guardian Overseas Deposit - Deposits from an overseas account can be considered on a case by case basis.
Considered when the property is being purchased from a close relative only: - Parent, Child, Grandparent, Spouse/ Partner, Sibling, Aunt/ Uncles Cousins, Niece/ Nephew, Step relatives, Foster Parent or Legal Guardian - 5% required by the applicants Overseas Deposit - Deposits from an overseas account can be considered on a case by case basis. Builder deposit/incentive - Acceptable up to 5% of the purchase price on new build properties Purchase at Undervalue - Acceptable where purchasing from a close relative, or a long term tenant buying from their landlord
6 months -If less than 6 months, will allow remortgaging from bridging finance provided by other lenders including the roll up of interest and lender fees. Capital raising is not accepted
All applicants must provide 3 years address history. The latest year must show continuous residency in the UK.

However, Only 1-years’ UK residency required before application.

If married at least one applicant must have permanent rights to reside or indefinite leave to remain, both would need to be applicants on the mortgage but affordability must fit on only the applicant with permanent rights to reside or indefinite leave to remain.

All Non EEA Nationals must be resident in the UK for the last 2 years and have permanent right to reside in the UK.

Extended list of acceptable visas

Foreign Nationals will need to provide evidence of their right to reside in the UK. Those with a permanent right to reside, EU/EEA/Swiss with settled status or indefinite leave to remain can borrow up to scheme limits.
Where residency status is evidenced by one of the following, borrowing is available up to 75% LTV with at least 5% of the deposit coming from either savings or inheritance:

EU/EEA/Swiss and Foreign Nationals

EU/EEA/Swiss with pre-settled status
Family visa
Tier 1 (Entrepreneur Visa only)
Tier 2 (Skilled Worker)
UK Ancestry Visa
British National (Overseas) Visa
Senior or Specialist Worker Visa
Health and Care Worker Visa
New build - Defined as one that has never been occupied
Offer validity 6 months. Extensions of up to 6 months can be considered Builder deposit/incentive - Acceptable up to 5% of the purchase price
Building Warranty - A warranty should be in place from a suitable provider.

Offers are valid for 6 months which can be extended for up to a further 6 months on the same product subject to credit search, affordability and re-valuation (£96). Monies will be released following provision of a completion certificate.
Houses are considered up to scheme and LTV limits.
Flats and maisonettes considered up to 80% LTV with minimum property value of £80,000 (£200,00 in Greater London).
Customer should achieve a low cut off score to be considered for the range. Vida then select a tier based on exact credit profile, not score, for transparency.
Vida 48, 0 missed mortgage/secured loan payments in the last 12 months, maximum worst status, 0 in the last 36 months. Vida 36, 0 missed mortgage/secured loan payments in the last 36 months, maximum worst status, 3 in the last 24 months. Maximum missed payments combined value - £500 Vida 24 0 missed mortgage/secured loan payments in the last 12 months, maximum worst status, 3 in the last 24 months. Maximum missed payments combined value - £500 Vida 12, 0 missed mortgage/secured loan payments in the last 12 months, maximum worst status, 3 in the last 24 months. Maximum missed payments combined value - £500 Vida 6, 0 missed mortgage/secured loan payments in the last 6 months, maximum worst status, 3 in the last 24 months. Maximum missed payments combined value - £500
Paid direct to lender and related to lender fee scales
21 years Above 85% LTV, applicants need to be at least 25 with a minimum property valuation of £100,000.
Will lend in England and Wales
4 applicants (all 4 incomes considered)
Access to Vida Homeloans is through a selective panel of packagers, one of which is 3mc
Soft foot print
Minimum 12 months trading period with 1 years accounts or SA302 and tax year overview.
Applications will be considered as long as there is a minimum of 1 years verified accounts or an Accountants reference.
Where the applicant is a Sole Trader or LLP/Partnership, 1 years SA302's and Tax Year Overviews will be acceptable.
All self-employed income will be verified by accounts that must be certified by qualified accountant or where applicable, the SA302. Where the trading period is over 2 years, 2 years evidence of income will be required.

48x weekly rate for self-employed contractors
Day 1 contractors considered where at least a 1 year track record of employment within same line of work
Umbrella contractors considered.

Share of Dividends Yes
Share of Directors remuneration Yes
Share of directors car allowances Yes
Share of directors pension contributions Yes
Share of use of home as office Yes
Share of private health insurance No
Share of spouse's income (sole app) No
Operating profit No
Retained net profit No

Full Details

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Saffron Building Society

Property Value

£100,000

100000-150000, 150001-10000000
Advance (min)

£30,000
Income

No minimum income for Residential.

100% of basic + guaranteed allowances
100% of guaranteed overtime / 50% of non-guaranteed overtime income considered.

Will use a pension pot or investment value in affordability assessment based on the mortgage term

CIS Worker scheme: - a minimum of three months’ CIS contracting experience and one year’s industry experience. The Society takes the applicant’s average income from the last three months into account.

Zero-Hour contracts: 100% of an applicant’s income, with only a minimum of 12 months zero hour contracting experience needed. If two applicants are both on zero hour contracts, Saffron will now consider using 75% of the second applicant’s income providing they have a minimum of nine months of experience as a zero hour contractor

No minimum income for Residential. 100% of basic + guaranteed allowances 100% of guaranteed overtime / 50% of non-guaranteed overtime income considered. Will use a pension pot or investment value...
Maximum Age

No maximum age - however, if over 75 years the ability to fund past 65 needs to be evidenced.

No maximum age - however, if over 75 years the ability to fund past 65 needs to be evidenced.

Historic CCJ's & Defaults

CCJ's/Defaults considered.
Unsettled CCJs/Defaults are allowed up the total of £100 and up to £500 at underwriter’s discretion.
Do not consider arrangement to pay
DMP - satisfied for at least 3 years, up to 80% LTV but subject to product availability

CCJ's/Defaults considered. Unsettled CCJs/Defaults are allowed up the total of £100 and up to £500 at underwriter’s discretion. Do not consider arrangement to pay DMP - satisfied for at least 3 years, up to 80% LTV but subject to product availability

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type: customer_individual, customer_expatriate
Property Type: type_single
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:100000-150000, 150001-10000000
Income (min):
£500,000 up to 95% LTV
£1,000,000 up to 90% LTV
£3,000,000 up to 80% LTV

£1,000,000 for FTB anything above is referred.

80% LTV New Build houses accepted.
Max Loan above £500k and up to £1m is 80% The property must be within the M25
Debt consolidation up to 80%
5 years
40 years
No
Yes - they require a letter stating no repayment will be made and no interest in property. Saffron also offer a family support mortgage option - this can be up to 5% - please see product guide Grandparents, parents, siblings, children and grandchildren A maximum of 5% in the form of a builder gifted deposit or incentive scheme is allowed subject to applicants having a minimum deposit of 5% from their own resources.
Yes - Provided the valuation is confirmed by the valuer as being the true value and the correct level of Stamp Duty is being paid i.e on the full price Saffron also offer a family support mortgage option - this can be up to 5% - please see product guide Grandparents, parents, siblings, children and grandchildren A maximum of 5% in the form of a builder gifted deposit or incentive scheme is allowed subject to applicants having a minimum deposit of 5% from their own resources.
Consider applications from applicants who have remortgaged/purchased within the last 6 months.
Must have indefinite leave to remain, no visa applicants considered

VISA's: -

Accept applications from clients holding the following Visas who have resided in the UK for a minimum of two years:
• Skilled Worker
• Health & Care Worker
• Global Talent
• Spousal
• Pre-settled Status

Maximum of 90% LTV with a minimum income of £75,000 above 75% LTV.
No minimum remaining term of current Visa.
Saffron's definition of new build properties is defined as a property built within the last 12 months (based on the date of the completion certificate), has not been previously occupied (for converted properties - since the conversion has been undertaken), being sold/marketed by a builder or developer with a valid new build warranty from a warrantor acceptable to the society.
Saffron recognise two forms of new build properties for security purposes: max LTV:

• New Build Houses, max LTV is product specific.

• New Build Flats, only in East Anglia, South East and London. Max LTV is 75% on C&I repayment and 60% LTV on Interest only.

No Shared Ownership new build properties are acceptable.

Self Build: -
Up to 80% LTV for land purchase, 80% of build costs and up to 80% of gross development value
Outlying outline planning permission allowed – will not go to valuation until full planning permission granted
Available to first time buyers

Properties with up to 20 acres of land can be considered providing this is not used for commercial use. Saffron BS can however accept properties where the applicants are looking to purchase a hobby farm.

List of warranty providers now being accepted:
o NHBC
o LABC
o Premier Guarantee
o ICW Limited
o Buildzone
o Castle 10/Checkmate
o Buildassure
o One Guarantee
o Global Home Warranties
o Q Assure
o Protek
o Advantage HCI
o Ark Residential Insurance
o *Zurich (*historical)
o *BLP (*historical)

Consider modern forms of construction, including 100% cladding, provided there is masonry up to damp proof level.
Can be considered at a max LTV of 70% and subject to underwriting and valuation.
Max LTV considered on new purchase up to 80% subject to product limits.

Can consider second homes: -

• Free Valuation Fees
• Minimum age 21
• For second homes
• Affordability is solely based on personal income and no income from short term letting is used
• Maximum 90 days per year of short term letting
• No AST or contract for tenant
• Not available to properties on holiday parks or subject to occupancy restrictions
• Interest only or repayment
• Interest only to 70% max LTV and subject to an acceptable repayment strategy
• Minimum loan size £30,000
• Maximum loan size £1,000,000
• Loans over this are priced on a bespoke basis and have restricted LTV’s
Yes, Experian - Must have a credit score over 600 Unsecured credit - No more than two occurrences within the last 24 months.
No more than two occurrences within the last 24 months.
Valuation fees paid direct to lender and a processing fee of £95 at application to 3mc
21 (or product specific)
Will lend in England and Wales.
4 (unless lending into retirement, then it's 2)
Access to Saffron is through a selective panel of packagers, one of which is 3mc
Soft foot print
2 years self-employed applicant has been trading for two years or more can qualify for Saffron's full range of products. This allows for more affordable residential rates for experienced self-employed applicants, and also opens the door to Saffron’s self-build and Joint Borrower Sole Proprietor (JBSP) products for the first time. For applicants with a minimum of 12 months trading or for those who require more flexible underwriting,

Self-employed with 100% Ownership can be considered on net profit after tax plus salary - for any other scenario, affordability assessed on salary plus dividend.
Partnerships assessed as share of net profit

Average or latest what ever is the lesser. If reasonable increase year on year over the last 3 years can take latest subject to underwriters discretion.
- 3 years income rising or downward trend – the system will now use the latest years figures
- 3 years fluctuating income – the system will use a 3 year average.
- 1 or 2 years income – the system will use the latest and must go on the self-employed product range

Add-back of voluntary pension contributions can be considered when calculating affordability.

Contractor Applicants

Specific product range for applicants who are deemed a contractor. Our policy has previously been silent on CIS workers and contractors working through an umbrella company so we have updated our policy to provide clarity to all our brokers.

CIS Workers

- A minimum of three months’ CIS contracting experience and one year’s industry experience. The Society takes the applicant’s average income from the last three months into account.
- May require 6 month’s payslips and bank statements
- A contract of employment if they have one
- Will assess via the contract terms or if no contract available we will us an average of the last 6 months payslips.

Contractors working under an umbrella company

- Must have 2 years min – CV Required as evidence
- Require 3 month’s invoice/payslips and bank statements
- Evidence of a contract of employment
- For affordability will use our day rate x days worked x 48 but factor in the deductions taken by the umbrella company.

Rental income usage for professional landlords - 50% of surplus income considered

Full Details

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Foundation Home Loans

Property Value

£75,000

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000
Income

No minimum income.

Up to 75% LTV, even for debt consolidation and not DTI ratio, and we also lend up to 70% interest only.
100% of benefit income is taken into account, provided there is an earned income on the application and children are 14 or below.

Latest 1 year’s accounts accepted; retained profits considered
Wide range of income types accepted up to 100% including bonus, overtime and commission, investment, trust, net rental and retirement income.

No minimum income. Up to 75% LTV, even for debt consolidation and not DTI ratio, and we also lend up to 70% interest only. 100% of benefit income is taken...
Maximum Age

75 years

75 years

Historic CCJ's & Defaults

DEFAULTS:
F1: 0 in 36; Unsatisfied defaults within the last 36m are accepted where the cumulative value is below £250 and relates to mail order, comms and utility payments. All other defaults must be satisfied.
F2: 0 in 24; Unsatisfied defaults within the last 24m are accepted where the cumulative value is below £250 and relates to mail order, comms and utility payments. All other defaults must be satisfied.
F3: 0 in 12; Unsatisfied defaults within the last 12m are accepted where the cumulative value is below £250 and relates to mail order, comms and utility payments. All other defaults must be satisfied.

CCJs:
F1: 0 in 36; All CCJs must be fully satisfied at the time of application
F2: 0 in 24; 1 unsatisfied (if older than 24m) to the value of £200 otherwise must be satisfied at application
F3: 0 in 12; 1 unsatisfied (if older than 12m) to the value of £200 otherwise must be satisfied at application

CREDIT CARDS, COMMS, MAIL ORDER, UTILITIES ARREARS (Must be up to date on application):
F1: Worst status 2 in 36 per account; 0 in 12
F2: Worst status 2 in 24 per account
F3: Worst status 2 in 12 per account

UNSECURED LOAN ARREARS (Must be up to date on application):
F1: 0 in 36
F2: Worst status 1 in 24 per account
F3: Worst status 2 in 12 per account

CCJ's - 0 within 24 months.
All CCJ's/Defaults must be fully satisfied at the time of application.

F3 - Recent adverse credit, within 24 months.
2 CCJ's/Defaults in 24 months up to the value of £2,000. (£500 in the case of debt consolidation).
All CCJ's/Defaults must be fully satisfied at the time of application.

DEFAULTS: F1: 0 in 36; Unsatisfied defaults within the last 36m are accepted where the cumulative value is below £250 and relates to mail order, comms and utility payments. All other defaults must be satisfied. F2: 0 in 24; Unsatisfied defaults within the last 24m are accepted where the cumulative...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_expat
Property Type: type_single
Max Age: max-age-70-75
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min):
Max 90% LTV up to £500,000 (F1 Range only)
Max 85% LTV up to £750,000
Max 80% LTV up to £750,000
Max 75% LTV up to £1,000,000
Max 65% LTV up to £2,000,000

Up to 85% LTV, part and part up to 80% LTV
5 years
40 years
50 years remaining on the lease at the end of the mortgage term.
No, this also includes DSS tenants.
Yes, immediate family members
No
6 months minimum ownership before remortgage considered
Yes - Min 3 years in the UK with permanent rights to remain or enter
New build Houses accepted, New Build flats, or newly converted flats less than 2 years after first sale are not accepted.
Case by case only -minimum 75% in private ownership in block
No
Yes
0 in 36; ignored after 36 months on all product ranges.
Valuation fees paid direct to lender at the lender fee scale.
18 years old
Will lend in England and Wales only
Maximum 2
Access to Foundation Home Loans is available via selected packagers only.
Hard foot print
1 years trading required - range dependent.

Latest 1 year’s accounts accepted; retained profits considered
Wide range of income types accepted up to 100% including bonus, overtime and commission, investment, trust, net rental and retirement income.

Consider retained profit

Share of Dividends Yes
Share of Directors remuneration Yes
Share of directors car allowances No
Share of directors pension contributions No
Share of use of home as office No
Share of private health insurance No
Share of spouse's income (sole app) No
Operating profit No
Retained net profit No

Full Details

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