- Up to 100% share value available
- £125k min property value
- Available in England and Wales
- Flexible underwriting
- Option to add fees
Acceptable credit profile
|Missed mortgage/rent arrears||In the last 12 months aren’t normally accepted but may be considered subject to individual case assessment.|
|Unsecured arrears||Not counted*|
|County court judgments or registered defaults||None in the last 36 months. Must be satisfied prior to mortgage application.
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 application regardless of date of registration
• The CCJs/defaults in aggregate amount to less than £300, regardless of date of registration, and were satisfied prior to mortgage application
|Individual voluntary arrangement (IVA) and discharged bankrupts||IVA/bankrupts who have been discharged over three years ago and who have no residual debt may be accepted subject to individual case assessment.|
* Whilst unsecured arrears are not counted, we reserve the right to consider on a case-by-case basis as part of the full underwrite.
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.
Guidance provided surrounding physical property valuations
Physical valuations for residential and buy to let properties shall continue, and will be conducted by our valuers Connells via the usual process, in a COVID-safe manner.
Please note: Connells have issued clear guidance surrounding property inspections. If this guidance isn’t adhered to, surveyors could choose not to proceed with a valuation, but still charge a fee for a 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All mortgage products are subject to availability of funds and can be withdrawn at any time.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