Solutions for the North and South

The following examples showcase how our products and services have supported others with their challenging cases.


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Real life examples

1 Large residential loan for high-net worth client Downwards_arrow
  • 85% LTV
  • £2M loan
  • London

The scenario

  • A company director was seeking finance for just over £2m on 85% LTV for a residential property in London
  • The high-net worth client had been in their present role for a number of years and had maintained an excellent credit history profile
  • The client’s finances showed good levels of income with a track record of vested shares and a substantial of savings.

Our prime residential criteria

  • Loan size of up to £3m available – loans above this can be negotiated, subject to eligibility.

The outcome

  • Underwriting agreed that the income would be sufficient in the long term, even with the high LTV, and were able to take the application to offer.  
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2 Large loan application in excess of £3m Downwards_arrow
  • 65% LTV
  • £6M loan | Buy to let
  • London

The scenario

  • A high-net worth individual needed a mortgage on a substantial detached buy to let property in London worth over £10m
  • A loan of just over £6m at 65% LTV was needed to refinance existing first-charge and second-charge mortgages at a better rate
  • This was also changing from a residential to buy to let property.

Our large loan criteria

  • Loan size of up to £3m available – loans above this can be negotiated, subject to eligibility.

The outcome

  • The size of the loan required property and credit valuations to offer a bespoke loan arrangement
  • Our real estate, underwriting and relevant business development manager worked closely with the applicant’s broker to proceed with the application.
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3 Large portfolio application of over 10 propertiesDownwards_arrow
  • 75% LTV
  • £430k loan
  • Multiple properties
  • Surrey

The scenario

  • A professional, full-time landlord with a portfolio of 13 properties valued at over £4m
  • An existing client with over half the portfolio properties already mortgaged with us
  • The landlord needed a loan of over £430,000 at just over 75% LTV in Surrey.

Our specialist large portfolio criteria

  • Large portfolios welcomed
  • Case was sent to our internal credit committee for initial approval, due to the size of the portfolio.

The outcome

  • Due to the size of the portfolio, a face-to-face meeting was arranged with a senior underwriter to discuss the case in full
  • The case was presented to the credit committee for consideration and the application was accepted.
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4 HMO application for self-employed clientDownwards_arrow
  • 70% LTV
  • £330k loan
  • 10 bedrooms
  • Kent

The scenario

  • HMO application from a professional landlord based in Kent
  • Loan requested was of over £330,000 at just over 70% LTV. The property had 11 bedrooms
  • A long-form valuation was executed due to the size of the property. The property was in a good condition, all bedrooms were currently let, and it provided a good rental yield.

Our specialist buy to let criteria

  • We are able to accommodate HMO cases with up to 8 bedrooms as standard – more by exception.

The outcome

  • The applicant’s property company held a good credit history, we were happy to approve the loan on this basis.
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5 Shared ownership with no deposit Downwards_arrow
  • £70k loan
  • 40% share
  • Shared ownership
  • Kent

The scenario

  • Sole applicant applied for a shared ownership mortgage on a leasehold studio flat in Kent of £70,000 on a capital repayment basis
  • The property was valued at £175,000 and managed by a local housing authority with a good reputation for managing its portfolio.

Our shared ownership criteria

  • The client’s share of the property must be a minimum of 25% and a maximum of 75% of the full property value
  • Up to 100% maximum share value (MSV)
  • Needs to be purchased through a registered Housing Association that permits up to 100% staircasing.

The outcome

  • Applicant had no adverse credit history, so we were happy to accept the application.
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6 Interest-only and repayment split on large loan Downwards_arrow
  • £2.7M loan
  • Income backed
  • High stress rate
  • London

The scenario

  • Joint application to change a property from residential to buy to let whilst raising additional capital to fund further properties
  • The high-income applicants required an interest-only / repayment split mortgage: 50% on interest-only and 35% on a repayment basis
  • Deposit over £480,000, with a loan of over  £2.7m loan at 85% LTV.

Our prime asset-backed, interest only critiera

  • We accept 85% LTV and loans up to £3m on exceptional cases of this kind.

The solution

  • Applicants required to use their own disposable income to meet the expected rental required (also referred to as top slicing)
  • We accepted the case due to good income, steady employment with bonuses, no adverse credit history, and no additional monthly credit commitments or costs.
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Real life examples

1 Near prime residential application with adverse creditDownwards_arrow
  • 70% LTV
  • £350k loan
  • Debt Management Plan
  • Yorkshire

The scenario

  • Joint application for a loan of £350k with a 70% LTV for a residential property based in Yorkshire. Both applicants in full-time employment
  • Applicants had completed a Debt Management Plan – the main applicant received redundancy during previous employment
  • The Debt Management Plan had been well maintained and cleared the year before they’d submitted the application.

Our near prime residential criteria

  • No value limits on CCJs, arrears or defaults
  • Debt Management Plans accepted where satisfactorily conducted for minimum of 12 months.

The outcome

  • After our underwriting team conducted an examination of the credit search and the conduct on the applicant’s recent bank statements, we were happy to accept the application.
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2 Near prime residential applicant with a CCJDownwards_arrow
  • 80% LTV
  • £210k loan
  • Historical credit defaults
  • Nottingham

The scenario

  • Joint remortgage application from a couple in Nottingham with adverse credit history. Application included capital raising for home improvements 
  • Four years ago the main income provider was made redundant during their maternity leave – this resulted in several defaults occurring during this period
  • They made regular payments on the outstanding default balances, which had significantly reduced the overall debt&nbs
  • Application was for a loan of over £210,000 at just over 80% LTV.

Our near prime residential criteria

  • No value limits on CCJs, arrears or defaults.

The outcome

  • As the applicants had been in full employment for over four years since the default and their financial situation had improved, we were happy to proceed with the application. 
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3 HMO case requiring specialist attention Downwards_arrow
  • 80% LTV
  • £110k loan
  • Specialist buy to let
  • Liverpool

The scenario

  • An existing customer with a buy to let portfolio, needed a loan for over £110,000 at just over 80% LTV for an HMO property in Liverpool
  • The property was in good condition with a high Debt-Service Coverage Ratio (DSCR).

Our specialist buy to let criteria

  • We can accommodate HMO cases with up to 85% LTV.

The solution

  • Given the existing relationship, the condition of the property and the good debt service coverage ratio, the loan was approved.
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4 Shared ownership case with adverse credit Downwards_arrow
  • £70k loan
  • Shared ownership
  • Joint application
  • Leicestershire

The scenario

  • A joint application for a £70,000 loan to fund the purchase of a small mid-terraced house in Leicestershire. Applicants were looking to fund a 50% share 
  • Evidence was sought of the current financial situation of the applicants. It was found that a default of around £400 had been registered over 3 years ago by one of the applicants, and was satisfied prior to the application.  

Our shared ownership criteria

  • The client’s share of the property must be a minimum of 25% and a maximum of 75% of the full property value
  • Up to 100% maximum share value (MSV) 
  • Subject to full underwrite, applicants with adverse credit may be considered where:
    • The CCJ/default was registered more than 3 years ago and satisfied prior to the mortgage application
    • The CCJ/default was satisfied more than 12 months prior to application regardless of date of registration
    • The CCJs/defaults in aggregate amount to less then £300 regardless of the date of registration. It must be satisfied prior to mortgage application.
  • Needs to be purchased through a registered Housing Association that permits up to 100% staircasing.

The outcome

  • As this fits our CCJ/default policy check of having registered the default over 3 years ago and satisfied prior to the application, we were able to accept the application
  • Both applicants’ bank statements had been well maintained over time, so we were happy to proceed with the application.
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5 Small loan required for sole applicantDownwards_arrow
  • 75% LTV
  • Minimum loan size £50k
  • Sole application
  • Manchester

The scenario

  • A sole applicant was looking for a loan of just over £55,000 at 75% LTV, on a buy to let property in Manchester
  • The applicant was the director of a successful company, with a steady income and no defaults, CCJs or arrears.

Our buy to let criteria

  • Minimum loan size £50,000.

The outcome

  • Due to the applicant’s income, achievable rent and financial situation, we were happy to proceed with the application.
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6 Buy to let application in limited company name Downwards_arrow
  • Limited company
  • Interest Cover Ratio
  • Buy to let
  • Property portfolio

The scenario

  • Buy to let purchase in a limited company name, featuring a portfolio of properties
  • We needed to verify the entire portfolio, and requested that the applicant provided necessary evidence
  • We measured the applicant’s profit position and ability to cover rental voids, and assessed their business plan. Existing portfolio then validated via the BTL Hub tool.

Our limited company loans criteria

  • Our requirement for Interest Cover Ratio (ICR) coverage on the wider portfolio is 125%, at a notional rate of 5%.

The outcome

  • Credit search review showed the rental returned against the outstanding mortgage was insufficient to meet the criteria. Existing loans considered, and confirmed that the existing mortgage loans were on long-term fixed rates
  • We recalculated the ICR and, based on the pay rates on long-term fixed rates, the ICR threshold was met
  • We then added in our new loan and the high interest cover strengthened the portfolio. This meant the case was accepted.
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krbs, Kent Reliance Banking Services and Kent Reliance are trading names of OneSavings Bank plc. Registered in England and Wales (company number 7312896). Registered office: Reliance House, Sun Pier, Chatham, Kent, ME4 4ET. OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number 530504). We subscribe to the Financial Services Compensation Scheme and the Financial Ombudsman Service.