The applicant(s)
CCJs |
0 in the last 6 months 1 in the last 24 months Must be satisfied prior to mortgage application. Ignore if one of the following apply:
|
Defaults |
0 in the last 6 months 2 in the last 24 months Must be satisfied prior to mortgage application. Ignore if one of the following apply:
|
Missed mortgage/secured loan payments |
0 in the last 6 months and currently up to date |
Unsecured arrears |
2 in the last 12 months and currently up to date |
Maximum status |
Currently up to date. Previous maximum status ignored |
Communication, utility and mail order |
Performance ignored where the account balance is less than £500 (single or in aggregate) |
Debt management plan |
Satisfactorily conducted for a minimum of 12 months |
IVA/DRO/bankruptcy |
>3 years discharged |
Repossessions |
Not acceptable |
Maximum no. of applicants |
4 |
Contractors considered? |
No minimum income required |
Self-employed considered? |
Trading a minimum of 12 months |
Ages |
18-79. Maximum age at end of term is 85 (including lending into retirement) |
The loan
Repayment terms available? |
|
Part interest-only and part capital terms available? |
By exception only |
Interest-only terms available? |
By exception only |
Porting available? |
|
Term |
5-35 years |
Standard variable rate |
6.33% |
Discount |
1.49% |
Early repayment charges |
Year one: 3% Year two: 3% |
Minimum loan |
£50,000 When the LTV exceeds 75%: £100,000 |
Maximum loan |
£1,000,000 Loans over £500,000 are subject to a maximum LTV of 80% |
Minimum property value |
£75,000 |
The fees and charges
Product fee |
0.5% |
Application fee |
£145 |
The affordability requirements
Affordability requirements |