- 100% share available
- £125k min property value
- Accepting furlough income
- Flexible underwriting
- Option to add fees
- Available in England and Wales
Find out how we can support your customers with furlough payments, bounce back loans and CBILS here.
Acceptable credit profile
|CCJs||Defaults||Secured arrears||Unsecured arrears|
|0 in 36*||0 in 36*||0 in 12||Not counted**|
*These are acceptable where one of the following applies:
- All CCJs/defaults were registered more than three years ago and satisfied
prior to mortgage application.
- All CCJs/defaults were satisfied more than 12 months prior to applicationregardless of date of registration.
- The CCJs/defaults in aggregate amount to less than £300, regardless of date
of registration, and satisfied prior to mortgage application.
**Whilst unsecured arrears are not counted, we reserve the right to consider on a case by case basis as part of the full underwrite.
If you have an existing application
If you currently have a case in progress where the valuation fees have been paid, the case fits our new criteria, and you wish to take advantage of the new products, please contact us to change the product.
Please speak to your BDM for more information.
The following exclusion applies:
• No debt management plans
Residential products now revert to Bank of England Base Rate (BBR) trackers
On expiry of the fixed rate product, the mortgage will revert to a rate of interest which will be at a variable rate above the Bank of England Base Rate (“BBR”) for the remainder of the loan. The rate will move up and down in line with BBR but if BBR falls below 0.00% the rate the customer is charged won’t change. Please refer to individual products for details on the rates applicable.
Important note regarding valuations
A physical valuation will be sourced from Connells via the standard process.
Connells has issued prescriptive guidance to follow around inspection protocols, which you can find here.
If this guidance isn't adhered to (e.g., the property is occupied or doors have been left closed), the surveyor may not go ahead with the valuation but will still charge the valuation fee for the on-site visit.
Terms and Conditions
All mortgage products are subject to availability of funds and can be withdrawn at any time.
ERCs may be incurred for full redemption or repayment of capital.
LTV quoted above relates to the share purchased LTV not full value.
These products are only available on a repayment basis.
At the end of any initial deal, the interest rate will revert to the Bank of England Base Rate (BBR) tracker. All of our BBR products have a floor.
This means that if BBR were to fall to 0.00% or less the rate payable will be 0.00%, plus the agreed set percentage above BBR. This means that the rate payable will never go below 0.00% plus the additional percentage rate of the tracker mortgage.
If your client makes any lump sum payments or repays the loan within a special deal period, an early repayment charge may be payable. Please refer to the early repayment charge section of the table for details. Payments up to a maximum of £499 per month can be made without incurring an early repayment charge.
Interest is added to the mortgage account for the period from the date the loan is made until the last day of that month. Thereafter, interest is charged monthly on the balance outstanding at the end of the last month. Payments in excess of the required monthly payment will have the effect of reducing the balance outstanding and the amount of interest to be paid.
These mortgage products are portable. Even if your client moves home during the initial special deal period of a mortgage, the remaining benefits (up to the outstanding balance of their existing mortgage) of that special deal can be transferred to their new mortgage with us, subject to our lending criteria at the time of any move. In this case, any early repayment charges will not be charged but the existing rate will not apply to any additional funds that your client borrows.
All loans are subject to availability, status, valuation and approval, and are available in England and Wales only. Applicants must be aged 18 or over. Maximum age at the end of the mortgage term is 85. Written quotations are available on request.
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) for general insurance intermediation and regulated mortgages
YOUR CLIENT'S HOME MAY BE REPOSSESSED IF THEY DO NOT KEEP UP REPAYMENTS ON THEIR MORTGAGE