90% new build lending is available on new build houses only, not new build flats.

Applicants must have clean credit history (0 missed payments in the last 3 years).

At least 50% of the owners' total income must be derived from permanent employed income (excluding income received from a director's own limited company, and fixed term or zero hour contracts).

Applications where the home owners have no employed income are not eligible for 90% LTV new build borrowing.

Maximum loan and LTI multiples apply.

95% lending is not available on any new build properties.

Applicants must have clean credit history (0 missed payments in the last 3 years).

At least 50% of the owners' total income must be derived from permanent employed income (excluding income received from a director's own limited company, and fixed term or zero hour contracts).

Applications where the home owners have no employed income are not eligible for 95% LTV borrowing.

Maximum loan and LTI multiples apply.

Not accepted.

Properties are accepted with land up to 2 acres.

We do not currently offer additional borrowing for existing Gen H customers.

Acceptable, weighted at 100%. Must be guaranteed.

We are required to verify the current address of all of our customers (owners, income boosters, and deposit boosters).

We will attempt to verify the customer on the voters roll in the first instance.

For deposit boosters, consent must be obtained to run a stand alone credit search to collect the voters roll data. No other credit data will be used.

Where we are unable to confirm the customer at the current address on the voters roll, one documentary address proof will be required.

The following document types are acceptable:

• Bank statement (must be dated within the last 3 months)
• Credit card statement (must be dated within the last 3 months)
• Utility bill (must be dated within the last 3 months)
• Mortgage statement (must be dated within the last 12 months)
• Council tax demand (must be dated within the last 12 months (current year))
• Current full UK/EU driving licence
• HMRC or Government issued letter, statement or demand (must be dated within the last 12 months)
• Current UK/EU photo provisional driving licence

Please note:

• Where a current full UK/EU driving licence has been used as proof of identity, it cannot be used for proof of address.
• Proof of address cannot come from the same source/instuition as the proof of identiy. For example we would not accept a bank statement and a credit card statement both from HSBC.
• Optional services such as cable tv, internal or mobile phones are not considered to be utility bills.

Customers who have entered into in the last 6 years (or intend to enter) into an administration order will be declined.

Acceptable, weighted at 100%. Must be guaranteed.

All borrowers (owners and income boosters) are credit checked. A fully submitted mortgage application will leave a hard credit footprint.

Any individuals that are associated to the owner(s) through continuing linked finances, marriage or civil partnerships must be added to the application as an owner. Each owner is subject to the same checks, whether contributing to the mortgage or not.

Minimum age

At least one applicant (including sole applicants) must be aged over 21.

All remaining applicants must be aged over 18.

Maximum age

For sole applicants the maximum age at the end of the term is 75.

For cases with more than one applicant the loan must be repaid by the eldest applicant’s 85th birthday.

We may be able to extend the term beyond an income booster's 85th birthday using our ‘Ejector Seat’. This will be applied automatically by our systems when calculating the maximum term.

Working farms, smallholdings, and houses subject to an agricultural occupancy restriction are not acceptable.

We will accept alphabet shares if they have been paid and can evidenced on the borrowers last 2 years SA302s.

The average over the last 2 years should be entered under the ‘Investment Income’ field. We will automatically apply a 50% weighting.

An annex is a smaller habitable residence separate and self-contained from the main residence. Properties with annexes are not acceptable.

We can accept applications with a maximum of 4 owners (excluding income boosters) and up to 6 borrowers in total (including income boosters).

Any individuals that are associated to the owner(s) through continuing linked finances, marriage or civil partnership, must be added to the application as an Owner. Each Owner is subject to the same checks, whether contributing to the mortgage or not.

There is no limit to the number of deposit boosters on an application.

We can potentially lend on properties where asbestos is identified subject to valuer's comments.

We do not lend to asylum seekers.

We will not lend on any property purchased within the last 6 months, there are no exceptions to this rule.

Income for borrowers in bank work can be considered on a case by case basis if the borrower has 12 months continuous employment within a similar role.

NHS bank work can be considered on a case by case basis if the borrower has 3 months of bank work history.

Income will be weighted at 100%.

Customers who have entered into in the last 6 years (or intend to enter) bankruptcy or a sequestration order will be declined.

We will not lend on any properties with more than 8 bedrooms, properties with more than 6 bedrooms will be on a case by case basis.

At least one owner should be in full time employment.

Benefit Income (Excluding universal Credit) should be evidenced through:

• Latest DWP Benefit Award Statement based for current tax year; AND
• Latest month's bank statement

100% of benefit income received by customers is allowable except for housing allowance, which is currently paid as part of universal credit.

All forms of tax credits are now paid within the Universal Credits and can be found on the borrower's Universal Credit monthly statement. Be mindful not to duplicate the payments across the benefit income fields.

Where the applicant's benefits fluctuate from month to month, take an average over the last 3 months payments.

This must be earned in the last 12 months. Key the full amount, we will automatically apply a 50% weighting.

Evidence required:

• Most recent 2 months’ or last 8 weeks’ payslips showing bonus income OR
• Latest P60 OR
• Annual compensation statement

and latest months’ bank statements showing income, expenditure and any rent/mortgage payments.

Only bonus income that has been evidenced will be used. Where bonuses are received on a biannual, quarterly or more frequent basis, an annualised value should not be assumed and must be evidenced.

Not accepted.

Not accepted.

Not accepted.

Not accepted.

Accepted, weighted at 100%. Must be guaranteed. At least one owner should be in full time employment.

We do not accept salary paid in cash as an income type.

Recent changes in employment type will be reviewed on a case by case basis.

Where a borrower has moved from employed or contract work to self-employment, 1 years trading must have been completed and evidenced via an SA302.

All changes to employment type will only be reviewed where the work remains in a similar role and industry.

May be accepted subject to line of work and full underwriter assessment.

At least one owner should be in full time employment. The benefit must be for the applicant and must be guaranteed.

Child benefit can only be used where no one in the houshold earns over £50,000 per annum, and it will continue for 5 years from the date of the mortgage application (this will be dependent on the age of the children at the date of application).

This can be evidenced through the applicant's latest bank statement.

All properties will be checked for cladding by the valuer and may proceed subject to the valuers comments and where required a valid EWS1 form. We will not accept properties with A3 or B2 rating.  Should the applicant be aware of cladding at the time of application submission, they should speak to the developer or seller to confirm whether an EWS1 is available. Where it is, it should be provided to us. The EWS1 form should be signed and dated within 5 years of the current date.

Freehold coach houses are unacceptable. The only exception is a long-term lease that covers the flat and garage related to the flat.

Properties used for home working are acceptable, providing no alterations have been made for the commercial use which could impact saleability. 

Properties that have been altered, adapted or converted for commercial use or where there are commercial buildings on the same title (for example, holiday let/cottage) are not acceptable.

Average of the last 2 months payslips. Key full amount and we will automatically weight to 50%.

The maximum percentage of eligible income per applicant is 50%.

Evidence required:

• Most recent 2 months’ or last 8 weeks’ payslips OR
• P60 OR
• The last tax years March payslip (The YTD will be used) OR
• Relevant payslips showing payments OR
• SA302 (self-assessment).

Not accepted.

Properties with compulsory purchase orders are not acceptable.

Can be considered if the applicant has 12 months continuous employment in the same line of work. This can be from different companies and can be against previous or future guaranteed work. Weighted at 100%.

Evidence requirements:

To verify income:

• 2 months payslips/invoices

To verify 12 months continuous employment/income:

• Latest years SA302 & TYO OR
• Current contract OR
• Latest annual invoice schedule

Where future employment is being evidenced a contract showing a minimum of 3 months remaining is required.

Calculating Income

• An average of the last 2 months CIS payments should be declared.
• The income should be inline with the contract, latest SA302 or annual invoice schedule.
• Where this is a large discrepancy, a rationale should be provided

We typically lend on properties of standard construction which is defined as built of stone, concrete block and /or brick with either solid or cavity walls that consist of an inner and outer skin. The outer skin will usually be of stone, brick or block. The roof will be of slate, tile, thatch or felt.

We may consider properties constructed using non-conventional methods but will be entirely guided by the valuer’s comments and confirmation of the property being suitable security for mortgage purposes.

Generally acceptable:

• Solid walls of brick or stone.
• Cavity outer walls of brick, stone or block rendered within inner walls of brick, stone or block.
• Timber framed property with outer walls of brick or stone built 1970 or after.
• Timber framed property with rendered outer walls of brick or stone built 1970 or after.
• Craft techniques (e.g.Cob) and period timber framed dwellings built prior to 1900.
• Roof of slate, tile, thatch or felt. Glass roofing may be acceptable where part of an extension
• Laing Easiform post 1945
• Wimpey No-Fines
• PRC dwellings, repaired under a scheme originally licensed by PRC Homes Ltd, where all properties in the same structural block are repaired to the same standard. N.B. All documentation must be contemporaneous with the repair works.
• LPS houses, flats and maisonettes (no more than 2 stories in height), subject to a satisfactory report from a structural engineer.
• ICF is acceptable if adherent to the 2 conditions specified by UK Finance:
• Valid third party product certification
• ICF manufacturers must belong to and abide by the requirements of the ICFA.
• Steel framed built after 2000 (flats or houses)
• Modern Concrete framed flats
• Brick and Block Crosswall

Unacceptable:

• Properties listed under the Housing Defects Act, unless repaired under the PRC Homes Ltd guarantee scheme, including the subject property and all adjoining properties in the structural block
• Reinforced forms of poured or shuttered concrete construction including Easiform construction, but excluding Laing Easiform from 1945 onwards and No Fines construction, which are acceptable construction types
• Metal clad properties
• BISF
• Steel framed construction built prior to 2000
• Large panel system (LPS) built concrete construction flats and maisonettes (houses, flats and maisonettes of not more than 2-storey in height are acceptable subject to a satisfactory report from a structural engineer)
• Timber/metal framed buildings where the cavity between frame & cladding has been filled with an insulation material post construction
• Pre-1965 softwood timber construction unless of high standard and in a location where there is proven, sustainable demand
• Buildings containing High Alumina Cement Concrete (HACC)
• Walls containing Mundic in Devon/Cornwall built between 1900 & 1960 unless a suitable specialist test of the concrete returns a Grade A rating
• Cranwell Construction
• Scotswood Pine Style
• Reema Construction (Both Reema Conclad and Reema Hollow Panel)
• Woolaway houses
• Concrete Crosswall

Our list of conveyancers can be found here.

Our conveyancing panel is managed by Lender Exchange and law firms can make a direct application via the Lender Exchange portal to join our panel subject to them meeting the following criteria:

• There are 2 or more Partner / Member / Director / Business Owners at the firm
• They hold a minimum of £2,000,000 PII cover
• 1 or more Lawyers must have minimum of 10 years Conveyancing experience
• Must be CQS Accreditation (for SRA regulated firms)
• Firms must be registered in England and Wales

CCJ = An account registered as a CCJ

• Recorded CCJ's over £100 are not acceptable
• CCJ’s satisfied less than or equal to £100 can be considered where supported by a strong rationale
• CCJ’s satisfied more than 3 years ago can be considered

Where any of the owners or income boosters have current formal or informal committees in place, the commitments must be disclosed following the logic below.

We use Experian data and personal bank statements to verify this information.

Where an installment loan is present (e.g. personal loan) the loan payment should be included as expenditure.

Where a customer is looking to consolidate debt as part of our transaction upon completion (remortgage with additional borrowing), all the debts must be included.

Where any debts are due to be repaid prior to completion, please provide full details to your BDM.

Revolving credit

Where the customer is using a revolving credit facility, e.g. a credit card or overdraft for everyday transactions and repays the balance in full each month, the commitment may be excluded where;

• The payment does not exceed the customer net monthly income
• The repayment is covered by income (not drawing on savings or additional borrowing)

This will be verified against the last 6 months payment history confirmed on Experian.

For any standing revolving credit facility balances, 3% of the balance will be included as an expense.

We will lend on the lower of the purchase price or Current Market Value (determined by professional valuation).

All Applicants are required to complete ID & Address verification.

Day rate contractors' income will be calculated as follows:

Annual income = day rate x 5 x 46

Assessment will be as with fixed term contracts.

Debt consolidation is only available through the broker channel.

The maximum LTV for debt consolidation is 80%. The amount would be the lower of £30,000 or 10% of the mortgage. Must assume the debts are not repaid in the affordability assessment.

Evidence to support the purpose of the loan may be required, considering the size and circumstance of the additional borrowing.

Customers who have entered into in the last 6 years (or intend to enter) debt management plan will be declined.

Customers who have entered into in the last 6 years (or intend to enter) into a debt relief order will be declined.

Default = an account in a defaulted status

• Recorded defaults >£100 are not acceptable
• Defaults <=£100 can be considered subject to Underwriter assessment and approval
• Defaults satisfied more than 3 years ago can be considered

Not accepted.

Dependent = a person not named on the mortgage application but supported financially by a party to the mortgage.

All child & adult dependants must be keyed for all borrowers (both owners and income boosters).

Where an owner does not evidence income, they should be entered as an adult dependent.

Visit the deposit booster page on our website for more information about the income booster proposition.

Deposit boosters help with the deposit in return for a protected financial interest in the property.

This is done through a deposit loan or an equity loan. With an equity loan, the booster's stake increases or decreases in line with the property value. A deposit loan is a straightforward loan - you get back what you put in. Loans can be converted into a gift at any time.

A booster’s capital is ring fenced to preserve a first-time buyer’s stamp duty status.

We provide the deposit booster legal agreement free of charge and manage the loan repayment.

There is no maximum number of deposit boosters for a mortgage application. Deposit boosters do not need to be UK residents however, funds from the deposit booster must come from a UK-based bank account and be in the UK for 3 months prior to funds being released.

Deposit boosters must take independent legal advice (ILA) at their own cost before signing the deposit booster agreement.

Requirements for a deposit booster:

• Contact details (number, email and full name)
• National Insurance number
• Date of birth
• Latest 3 year address history
• Details regarding deposit contribution; amount, source and terms (loan or equity stake)
• Proof of identification & address (This can be done electronically or by providing documentation)

Checks that are carried out (KYC):

• Fraud
• PEP, sanction and media checks
• Address
• Identification
• Source of fund checks (where required)

The following types of deposit are acceptable:

• Savings
• Sale of property or equity release
• Sale of shares or crypto currency
• Inheritance
• Gifted deposit from a family member (a family member is considered to be a close relation defined as a spouse, domestic partner, grandparent, parent, sibling, half sibling, aunt, uncle, cousin, in law relation or step relation)

Our deposit booster proposition allows friends or family to make a contribution to the deposit in the form of an equity loan or interest-free loan

Vendor’s deposits are not accepted.

Unsecured loans are not accepted as a deposit.

Where the deposit funds are coming from overseas, further due diligence checks will be applied.

Where the funds are the product of crypto currency trading, please refer to the acting conveyancer for further guidance on acceptability.

We will collect all payments by direct debit. We require direct debits to be set up by everyone on the mortgage; the buying group (owners and income boosters) decide how payments should be managed.

Accepted, weighted at 100%. At least one owner should be in full time employment. The benefit must be for the applicant and must be guaranteed.

We will consider applications on the basis that there is no sign of distress or vulnerability.

We will lend on the lower of the discounted purchase price or Current Market Value (determined by professional valuation).

We do not allow distressed purchases or gifted equity.

Dynamic ownership can be used on cases where there are multiple applicants (either owners or income boosters).

This uses the tenants in common legal structure and the home agreement. Our home agreement acts as a deed of trust to represent everyone’s financial interest in the property, meaning everyone’s individual ownership stake can be tracked regardless of whether they put different amounts into the deposit or monthly payments.

Individual shares in the property reflect individual contributions towards the deposit and mortgage repayments. This means the ownership structure can change dynamically over time.

Where properties require an EWS1 form, the form should be signed and dated within 5 years of current date, with the appropriate rating clearly stated.

Early repayment charges are payable if the customer repays the mortgage loan or switches to another product before the end of the initial interest rate. They are based on a percentage of the amount that the customer repays or switches. Early repayment charges will also apply if the overpayment allowance is exceeded.

Early repayment charges do not apply after expiry of the initial fixed rate period.

See sourcing systems for details of current ERCs.

Ejector seat is only applicable to cases with income boosters.

Our ejector seat feature can be used to extend the term by removing boosters part way through the term so they do not exceed our maximum age criteria. We do this by adding a condition to the mortgage. All boosters will be removed at the same time – when the first one exceeds our age criteria. Owners can choose to remove boosters earlier by remortgaging, subject to passing affordability checks at that time.

We calculate how much of the loan will have been paid off by the time the boosters exceed our age criteria, and use this to determine if the boosters would be able to afford the remaining loan on their own at that point.

Please note that ejector seat does not always allow the term to be extended to our 40 year maximum. For an accurate term range please get a DIP or contact us.

We will accept 100% of employed basic income and guaranteed contractual allowances such as car allowance and London weighting.

Evidence required:

• Most recent 1 months’ or last 4 weeks’ payslips for basic pay only
• Most recent 2 months’ or last 8 weeks’ payslips where any bonus, overtime, commission etc. is evidenced
• Latest months’ bank statements showing income, expenditure and any rent/mortgage payments

Acceptable, weighted at 100%. Must be guaranteed.

Ex-local authority properties are acceptable where:

• The value of security exceeds £100k outside London and the South East and £150k inside London and the South East
• The valuer deems the property to be acceptable to most lenders and readily saleable on a owner occupier basis.

London and the South East includes areas I&J using the NUTS definition.

We do not lend to expats.

Not accepted unless a contractually-guaranteed allowance.

Acceptable where the customer has been employed to the family business for a minimum of 12 months. 12 months bank statements are required.

Where >20% or more shares are owned they must be treated as self-employed.

Feudal ownership properties are not acceptable.

We accept cases from first time buyers and previous homeowners.

Income boosters can own their own home and will not affect a first time buyer’s stamp duty status.

Can be considered where the applicant has 12 months continuous employment within a similar role and industry.

The applicant must have a minimum of 3 months remaining on their current contract at the time of the application being submitted or have a future contract in place.

Applicants with less than 12 months continue employment within a similar role may be considered if working in a skilled or professional role.

Documents we require:

• Current contract with at least 3 months' remaining at time of submission
• Latest 2 months payslips/invoices

To verify 12 months continued employment:

• 12 months payslip OR
• 12 months bank statements OR
• Latest SA302 OR
• Latest P60 OR
• Previous contraacts

We do not accept properties that are of high risk of flooding due to rivers and/or the sea.

Please use the GOV.UK flood risk checker to check the subject property before submitting your application.

Flying freehold properties are acceptable where:

• It is a feature of local housing, and
• The element of flying freehold is <20% of the total floor area.

We do not lend with the use of the Forces Help to Buy.

We do not accept foreign income or income in a foreign currency.

Where fostering represents the applicant’s primary source of income (i.e., where 50% or more of overall income is derived from fostering) the applicant will be treated as self-employed.

All fostering income is allowable and weighted at 100% where:

• There is a 12 month track record
• It is likely to continue for at least 5 years from the start of the mortgage

Evidence required:

• Latest 3-month bank statements showing income.
• Local authority or fostering agency letter or recent statement confirming income, broken down per foster child.
• Where 50% or more of overall income is from fostering income the latest years SA302 and corresponding TYO will also be required.

Freehold flats are not acceptable. Leasehold flats with a share of freehold are acceptable.

Maximum annual ground rent must not exceed £250 (£1000 in Greater London) or 0.2% of the current property value (new builds restricted to 0.1%), whichever is lower.

Ground rent review period must be equal to or greater than 10 years.

Ground rent should double no sooner than 20 years.

If there is the potential or the ground rent currently exceeds the above limits, it should be reduced to within the required threshold. This would require a lease variation to include a new clause in the Lease that states that under no circumstances can rent be increased so that it comes within the applicable Assured Shorthold Tenancy (AST) threshold in the Housing Act 1988 (as amended).

We do not allow guarantors, we do allow income boosters.

We do not offer mortgages with the use of a Help to Buy loan.

We accept applications where the re-mortgage will also cover the full repayment of the Help to Buy loan.

The maximum LTV is 90% for this type of loan.

We will lend on high rise flats up to 10 stories. Any building over 5 floors must have a working lift.

We will not lend on holiday homes.

Where income from property represents an applicant’s primary source of income (i.e., where 50% or more of overall income is derived from properties) this should be treated as self-employed policy.

Income from holiday lets is acceptable where it has been received for a minimum of two years and can be evidenced by the latest two years SA302 or SA100s and the corresponding TYOs.

We will also require the latest 3 months personal or business bank statements showing the holiday let income.

The declared annual income should match that of the latest years SA302/SA100. Where the recent trading has decreased a rationale should be provided and the annual income reflected accordingly.

Holiday let income should be entered as self-employed income (The annual figure matching the latest years SA302/SA100). The property information (address) and annual mortgage expenses should be added under the rental income section with the annual income entered as £0.

We can lend to applicants moving home as long as it is their main residence.

Not accepted.

Identity verification is required for all owners, income boosters and deposit boosters.

ID verification will be completed using a Veriff. Where this is not possible, one of the following documents must be supplied, certified as original:

• Current full UK or EU passport – valid (signed)
• Current UK/EU photo provisional driving licence
• Current full UK/EU driving licence
• Current year’s HMRC tax code notification
• Current valid (signed) overseas passport or identity card

Note:

• Where a current full UK/EU driving licence has been used as proof of identity, it cannot be used for proof of address.
• Proof of address cannot come from the same source/instuition as the proof of identiy. For example we would not accept a bank statement and a credit card statement both from HSBC.
• Optional services such as cable tv, internal or mobile phones are not considered to be utility bills.

Acceptable, weighted at 100%. At least one owner should be in full time employment. The benefit must be for the applicant and must be guaranteed.

Visit the income booster page on our website for more information about the income booster proposition.

We will factor income boosters' disposable income into our affordability calculations to increase the amount we can lend. Please note that we apply additional tests to make sure the owners are not excessively reliant on the boosters. For the most accurate affordability figure please use our affordability calculator.

To preserve a first-time buyer’s stamp duty status, an income booster is not on the property deeds, but they are on the mortgage. This is structured like a Joint Borrower Sole Proprietor (JBSP) mortgage.

Income boosters are not allowed to reside in the property.

Income boosters are subject to the same credit checks, eligibility criteria, and evidence requriements as the owners, as detailed elsewhere in this guide. However our ejector seat feature can be used to extend the term by removing boosters part way through the term so they do not exceed our maximum age criteria.

Only close relatives can act as income boosters. A “close relative” is defined as parents (including step-parents), children (including step-children), grandparents, siblings (including half-siblings and step-siblings), uncles and aunts (siblings of parents only).

Income boosters may choose to contribute regularly to the mortgage repayments or simply be on standby. If they do contribute they can build up a stake in the property using our dynamic ownership feature. If you tell us that a booster will be regularly contributing we will factor this into our affordability calculations. Note that all applicants, including income boosters, are liable for the full mortgage repayment.

Applicants' interests are protected through the home agreement, our version of a deed of trust. It provides robust legal protection to each individual borrower throughout the term of their mortgage.

Income boosters must take independent legal advice (ILA) at their own cost before signing the home agreement.

ILA (independent legal advice) is provided by a solicitor before the customer enters into a financial arrangement to ensure everyone is aware of their obligations, the risks involved, and rights regarding the transaction.

We require both income boosters and deposit boosters to obtain ILA. This is to ensure that they understand their legal obligations and responsibilities as a booster.

More information on this can be found here.

Customers who have entered into (or intend to enter) Individual Voluntary Agreement (IVA) / Trust Deed will be declined.

Interest is calculated on a daily basis but charged monthly on all our mortgages.

Not accepted.

The total balance of the investment divided by the term should be keyed. We will then weight this at 50%.

Evidence required:

• Latest annual statement or last 3 months’ statements showing investment funds or latest investment portfolio valuation

We will not lend on investment properties as we only provide residential mortgages.

Properties with Japanese Knotweed Management Category A-C are unacceptable.

Properties with management category D may be acceptable subject to RICS guidance being followed on the basis there is no impact on future salability.

Income boosters are our version of JBSP.

We will not lend on a property where there is more than one kitchen.

Not accepted.

Leases must have at least 85 years unexpired term on commencement of the mortgage with a minimum of 50 years remaining at the end of the term.

We will accept properties with an extension to the lease which will need to be confirmed by the solicitor prior to completion and also meet the above length requirements.

We will accept applications where a management company is in place. We only accept leasehold properties where the Freeholder or Management Company has no connection to our customers.

Let To Buy applications are acceptable as long as the existing residential mortgage is changed to a BTL mortgage. We will need to see a copy of the BTL mortgage offer BEFORE our offer is issued. The BTL must be drawn down before Gen H completes on the mortgage. We will not accept any consents to let. Where a current residential property is being converted to a LTB, we will not accept any future rental income.

Accepted, weighted at 100%. Where trading for 2 years or more.

If the applicant has a shareholding of less than 50%, we would accept dividends and director's salary for the affordability assessment. We will check the net profit for the company to ensure that the applicants income is sustainable.

If the applicant has a shareholding of 50% or more, we would use director's salary and share of net profit for the affordability assessment. We will check the net profit for the company to ensure that the applicants income is sustainable.

We will not accept dividends where the applicant’s drawings exceed the net profit of the business for the latest year. Where the dividends exceed the net profit, we will only accept the share of the net profit for our affordability calculations.

Evidence requirements:

• Last 2 years’ SA302s with their corresponding Tax Year Overviews
• Last 3 months’ business bank statements showing consistent income in line with the latest years submitted figures and to evidence trading through COVID
• Last 3 months’ personal bank statements showing income and expenditure
• 2 year’s worth of limited company accounts certified by a suitably qualified accountant

Acceptable Accountants Qualifications

Where annual accounts are required, they must be finalised, submitted to Companies House and signed by a suitably qualified accountant.

The accountants qualification must be verifiable through the association/institutes website. We will not accept certificates alone.

Acceptable Accountants Qualifications:

• Institute of Chartered Accountants in England & Wales – A.C.A or F.C.A
• Institute of Chartered Accountants of Scotland – C.A (Chartered Accountant), A.C.A.S or F.C.A.S
• Institute of Chartered Accountants in Ireland, also known as Chartered Accountants Ireland – C.A (Chartered Accountant)
• Association of Chartered Certified Accountants – A.C.C.A, F.C.C.A, A.A.P.A or F.A.P.A
• Association of Authorised Public Accountants – A.C.C.A, F.C.C.A, A.A.P.A or F.A.P.A
• Chartered Institute of Management Accountants – A.C.M.A or F.C.M.A
• Certified Public Accountants Association – A.C.P.A or F.C.P.A
• Association of Accounting Technicians – M.A.A.T or F.M.A.A.T
• Association of International Accountants – A.A.I.A or F.A.I.A [not FAIA (acad)]
• Chartered Institute of Taxation – C.T.A (Fellow), F.T.I.I (Fellow), C.T.A or A.T.I.I
• Institute of Financial Accountants – A.F.A (Associate) or F.F.A (Fellow)
• Chartered Institute of Public Finance & Accountancy – C.P.F.A.

AAT can be accepted where the firm or another accountant from the firm holds one of the above acceptable qualifications.

We will take the latest years salary and dividend as evidenced by the latest 2 years SA302s, corresponding TYO and the latest 3 months bank statements.

A partner must have a minimum of 2 years as an employee or equity partner/shareholder.

We do not lend on grade 1 listed properties.

Grade 2 listed properties be considered on a case-by-case basis where the building is in a good state of repair and no negative comments are made by the valuer.

We use a model to determine applicants' living costs. We do not require this information to be keyed.

Our model is based on ONS data and the number of adults and dependants in each household. Each month the rate of inflation applied to the ONS data may be amended.

We will only consider residential mortgage loans for either purchase or re-mortgage as an owner’s main residence (excluding income boosters).

We do not offer bridging loans.

We do not offer loans to purchase or remortgage second residential properties.

Loan size limits

Minimum - £25,001

Maximum - £1,000,000

Larger loans may be considered as exceptions with referral to the Credit Director.

Loans may be subject to a lower maximum LTV for certain property types or LTVs

The maximum loan-to-income ratio is 5.5x gross income.

The following additional restrictions apply:

• 85% LTV is capped at 4.49

• Primary Borrower is Self Employed is capped at 4.49

Non-new build properties

The following table gives the maximum loans by LTV, property type and region for non-new build properties:

*Lending allowable to 95% where the application meets additional criteria.

New build properties

The following table gives the maximum loans by LTV and property type for new build properties:

**Lending allowable to 90% where the application meets additional criteria.

Remortgages

LTV is limited to 90% for all remortgages. Additional limits apply to remortgages with additional borrowing.

We currently only lend in England & Wales.

Acceptable, weighted at 100%.

Income as per tax returns.

Where the customer is required or is committed to pay maintenance, these payments should be keyed as expenditure.

Maintenance income is allowable (100%) through a signed Maintenance Agreement received under court order OR Child Support Maintenance agreement subject to:

• Confirmation the agreement will be in place for a minimum of 5 years from the start of the mortgage AND
• A satisfactory track record of receipt being provided – 3 months bank statements

Acceptable, weighted at 100%. Must be guaranteed.

Gross internal floor area (GIA) must be a minimum of 30sqm.

Single borrower (owner)

£18,000 annual minimum income

Joint borrowers

£20,000 annual minimum combined income, including any income boosters

Within the last 3 months

• Mortgage payments: No missed mortgage payments
• Unsecured lending: No financial agreement to be more than 1 month in arrears

Within the last 3 years

• Mortgage payments: No mortgage to be more than 1 month in arrears
• Unsecured lending: No financial agreement to be more than 1 month in arrears (arrears balances <=£100 if <=3 months in duration).

Mobile homes are not acceptable.

Minimum term - 5 years

Maximum term - 40 years subject to the customer’s age at application and the end of the term.

These minimum terms apply for new mortgages or remortgages.

We will not lend against new build developments where incentives paid to the purchaser are more than 5% of the purchase price.

• Where incentives are less than £2,000 the incentive is allowed with no change to lending.
• Where incentives are greater than £2,000 but no more than 5% of the purchase price of the property, the value of the incentive will be deducted from the property value when calculating the LTV.

We class any items supplemented by the developer/vendor as incentives.

We do not accept developer/vendor deposits

New build developments are properties (houses and blocks of flats) built or converted within the past 24 months.

Newly converted properties, completed by a professional and reputable development company, will be treated as new builds. Examples include offices converted into flats or a professional barn conversion.

Stage payments on new build properties are not accepted.

New build certificates

For any property built or converted within the last 10 years one of the following certifications will be required:

• National House-Building Council Buildmark Scheme (NHBC)
• Zurich Municipal Newbuild Scheme
• Zurich Municipal Rebuild Scheme
• Premier Guarantee for Private and Completed Housing
• Build Assure (FMB)
• Building Life Plans Scheme
• Buildzone
• LABC Warranty
• LABC Warranty Scheme
• ICW Warranty Scheme
• One Guarantee Warranty Scheme
• Castle Ten / checkmate
• Global Home Warranties
• Protek
• Q Assure
• Advantage HCI
• Architect’s Certificate1, The Professional Consultants used must have one or more of the qualifications listed in the CML Handbook 6.7.4 National

New build valuations

Valuations can be assessed using the floor-plan provided by the builder and also the plot map. The market value is derived from that plus comparable property information. A re-inspection may be required where:

• There are significant changes from the floor plan reviewed by the valuer
• The valuation is more than 180 days old and therefore expired or
• It has been specified by the valuer within the original valuation report

The re-inspection fee is £75.

If the borrower is due to start their new role during the application process, we will need to see a copy of their signed contract, 1st payslip, and corresponding bank statement.

Where the applicant is a Foreign National, the applicant must be a UK resident and is entitled to live and work in the UK.

We define UK Residency as an individual who is registered for, and pays, UK tax and has either:

• UK Citizenship
• EU settled or pre-settled status
• Indefinite Leave to Remain
• UK Spousal (5 or 10 year route) *Where applying in joint names and at least one borrower on the application has permanent right to reside in the UK

All Foreign Nationals are required to have a minimum of 3 years address and credit history within the UK and have current active UK credit.

Where applicants do not meet the above requirements e.g. have not been in the UK for 3 years or where they have entered on a Visa the following criteria will be applied:

• At least one customer on the application must have permanent right to reside in the UK (As defined above)

• Applicant's credit profile must evidence 2 years residence in the UK.

• Loan to Value (LTV) is <=80%

• Application total income is >=£100,000. This is the combined income of all applicants and therefore does not need to be the income of the applicant who does not have permanent right to reside.

• The applicant must have one of the following Visas:

• Skilled Worker (previously known as Tier 2)

• Health & Care Worker

• Senior or Specialist Worker

• International Sportsperson

• Ancestry Visa

• Spousal Visa (5 or 10 route) *Where applying in joint names

Document requirements

Leave to remain in the UK and all Visas outlined above must be evidenced by a stamp in the Customer’s passport OR Biometric Residence Permit showing 'indefinite' rights to remain (this includes 'indefinite leave to remain', 'indefinite leave to enter' or 'no time limit').

Where an applicant has EU Settled or Pre-Settled status, we will require the applicant's immigration status online gov.uk share code. The code provided lasts for 30 days and enables us to view their immigration status.

Where any of the above documentation cannot be provided, we may require a Home Office letter to verify the applicants current residential status.

No exceptions to the above documentation are permitted

We do not lend on properties in Northern Ireland.

Income boosters and deposit boosters are not permitted to reside in the property.

Any occupiers (individuals residing or due to reside in the security) not associated to the owner(s) through continuing linked finances, marriage or civil partnership, such as adult children (17+), must be disclosed and complete an occupancy waiver form.

Occupier's consent and postponement deed

This document must be signed by every person aged 17 or over who will occupy the Property after the Mortgage is completed and who is not a party to the Mortgage.

Occupier's Consent and Postponment Deed.pdf

Please note, we will not be able to issue a mortgage offer without this document signed and returned to us.

Our offers are valid for 180 days.

Properties with overage clauses are not acceptable.

Allowed up to 10% of the original mortgage balance during a 12 month period, if the customer exceeds the limit then an early repayment charge will apply.

We do not accept overseas applicants.

Acceptable. Key full amount and we will weight at 75%.

Average of the last 2 months payslips.

Evidence required:

• Most recent 2 months’ or last 8 weeks’ payslips OR
• P60 OR
• The last tax years March payslip (The YTD will be used) OR
• Relevant payslips showing payments OR
• SA302 (self-assessment)

and latest months’ bank statements showing income, expenditure and any rent/mortgage payments

Only bonus income that has been evidenced will be used. Where bonuses are received on a biannual, quarterly or more frequent basis, an annualised value should not be assumed and must be evidenced.

We define an owner as an applicant that will be party to the mortgage and also will be living in the property.

We will accept 100% of the borrowers returning employed income, where the applicant will be returning to work within 12 months of the application being submitted, the customer can evidence how they are able to cover the reduction in income and that they have sufficient resources in place to maintain their financial commitments for the parental leave period.

Self-employed customers will be reviewed on a case by case basis.

A child dependent must be declared, along with any known future additional expenses.

Evidence requirements;

Returning within 3 months

• Letter from the employer confirming the return to work date, the return basis (Part-time/Full time) and the returning income.
• The latest payslip prior to the commencement of parental leave (as per income evidence policy) or an employer’s letter confirming the employment terms of their parental leave.
• The latest payslip showing maternity pay.

Returning within 3 to 6 months

• Letter from the employer confirming the return to work date, the return basis (Part-time/Full time) and the returning income.
• The latest payslip prior to the commencement of parental leave (as per income evidence policy) or an employer’s letter confirming the employment terms of their parental leave.
• The latest payslip showing maternity pay.
• Evidence of savings to cover any income shortfall (Savings in addition to any maternity pay will be required to cover all expenses.

Returning within 6 to 12 months

• Letter from the employer confirming the return to work date, the return basis (Part-time/Full time) and the returning income.
• The latest payslip prior to the commencement of parental leave (as per income evidence policy) or an employer’s letter confirming the employment terms of their parental leave.
• The latest payslip showing maternity pay.
• Evidence of savings to cover any income shortfall (Savings will be required to cover all expenses where the return date is over 6 months).

Where the builder or developer is purchasing the customer’s existing residential property, part-exchange transactions are acceptable. The value of the property should be reflective of market value.

Pay increases are acceptable and must be confirmed by the employer. Increases must be within a reasonable time frame and will be reviewed by our underwriter. We will need to see evidence by way of a payslip showing the increased income prior to completion.

Any customer with active payday loans within 6 months will be declined.

If any borrower had taken a payment holiday, the following treatment will apply:

(a) Secured Debt – mortgages must be back to repaying full installments

(b) Unsecured Debt – case will be declined if payment holiday was taken in the last six months

Payment Holidays are not a feature of our mortgages.

We will accept 100% of state, private, group, occupational and pension annuities. We do not accept drawdown pensions or pensions held in trust.

We will also accept SIPPs, please see below for how to key them.

For SIPPs the total pension fund/term divided by 2 must be calculated and this amount entered into the pension field.

Not accepted.

Acceptable, weighted at 100%.

At least one owner should be in full time employment. The benefit must be for the applicant and must be guaranteed.

Work done by the piece and paid for at a set rate per unit is acceptable and taken at 100% where;

(Employed) The applicant has a 12 month employment history within the same role. The latest P60, 3 months payslips and bank statements will be required.  The lower of the; annual income on the latest P60 OR annualised income from the latest 3 months payslips, should be declared as the annual income.

(Self Employed) The applicant has 2 years trading history. The last 2 years SA302, TYOs and latest 3 months business bank statements will be required. The lower of the; annual income seen on the latest SA302 OR annualised income from the latest 3 months business bank statements, should be declared as the annual salary.

Shorter terms of Employment/Self-employment may be reviewed where the individual is a skilled worker or professional.

At present none of our products are able to be ported to another property.

Acceptable where the property is being purchased for residential use only, positive valuer comments are received, and any change of use agreements are completed on or before completion

Customers within the first 6 months of employment must confirm permanent employment or evidence 12 months in a similar role/industry.

Where an applicant is within a probationary period (defined as within the first 6 months within their current role/employment) the following are required:

• Confirmation that the customer is guaranteed to become permanently employed (e.g. contract showing no or a completed probation period) OR
• 12 months track record within a similar role or profession. This can be evidenced through; contracts, bank statements, payslips, P60 or SA302 (self assessment).

If any of the funds being used for the deposit have been gifted to the owner(s) we will require a gifted deposit letter to be completed by the giftor.

Any other proof of deposit documentation is only required when requested. The acting conveyancer will always complete thorough checks in regards to the deposit funds.

Where the deposit funds are coming from overseas, documentation will be required and further due diligence checks will be applied.

Where the funds are being received from a High Risk Country, we may choose not to proceed.

Where the deposit funds are the product of Crypto currency trading, please refer to the acting conveyancer for further guidance on acceptability.

Properties held in trust are not acceptable.

Other charges such as rent charges, will be reviewed on a case by case basis and should be entered under ‘Other’.

The valuer will always be asked to confirm whether the annual property charges would affect property suitability and marketability, as part of the mortgage valuation. Where we are advised of an impact, we may choose not to proceed.

Maximum property value:

£3,000,000 (up to £5,000,000 on referral)

Minimum property value:

£75,000, except:

• Studio flats: £100,000.
• Ex-Local Authority/MOD/Housing Association properties: £100,000 outside London and the South-East (LSE) and £150,000 inside LSE.
• Properties in proximity to commercial premises: £100,000 outside LSE and £150,000 inside LSE.
• Freehold properties converted into flats: £100,000 outside LSE and £150,000 inside LSE.

London South East (LSE) includes areas I&J using the NUTS definition.

We will only consider properties within a close proximity to commercial premises where:

• The minimum Valuation exceeds £100,000 outside London & South East (LSE) and £150,000 inside LSE.
• The Valuer’s comments are positive and recommend the property as suitable Security.

We will not consider these properties where any of the following factors apply:

• Where the Valuer deems the property to be unsuitable on the grounds of noise, smell or danger to health and safety.
• Where the Valuer advises the location of the property is likely to attract antisocial behavior.
• Where the Valuer cannot recommend the security and believes the location materially impacts future saleability.
• Where a property is In close proximity to or within influencing distance of food outlets, public houses, nightclubs, licenced premises , takeaways, shops selling perishable foodstuffs, petrol stations and large/predominantly Industrial locations

At the end of a fixed rate period where there are no material changes to the mortgage, a rate switch will be allowed without an affordability assessment.

We will undertake an affordability assessment where there is a material change to a mortgage, such as an increase in loan amount, or a term reduction, or any change that may affect the affordability of the mortgage.

The purpose of additional borrowing should be genuine and legal. We do not support speculative investments.

Maximum LTVs

Standard new business maximum LTVs per property type, region and loan amount also apply.

LTV is limited to 90% in the following scenarios:

• Remortgage only
• Remortgage and TOE (buy out partner)
• Remortgage and staircase to 100% shared ownership*
• Remortgage and repay Help to Buy loan*
• Remortgage and repay shared equity loan*
• Remortgage and non-structural home improvements
• Remortgage and capital raise for lease extension or purchase of freehold. Must meet minimum lease criteria. Based on pre-lease extension value.

*must be to full ownership

LTV is limited to 80% in the following scenarios:

• Remortgage and capital raise for gift to a relative. Limited to £10k unless for a house deposit for a close relative.
• Remortgage and capital raise to purchase a BTL property
• Remortgage and capital raise to purchase a timeshare. Limited to £20k and 1 drawdown only.
• Remortgage and capital raise to purchase consumer goods. Limited to £20k
• Remortgage and capital raise for school fees. 1 drawdown only
• Remortgage and capital raise to repay 2nd charge
• Remortgage and capital raise for debt consolidation. Limited to lower of £30k or 10% of mortgage. Affordability assessment must assume debts are not repaid.
• Remortgage on unencumbered property. Only for buying out partners

Unacceptable loan purposes

The following borrowing types are not acceptable; however, this list is not exhaustive and if the borrowing purpose gives cause for concern, guidance should be sought from Senior Underwriters or from Credit Risk.

• Accident Sickness and Unemployment premiums
• Business Purposes
• Tax Bills e.g., unpaid self-employed corporation tax.
• Court Fines
• Illegal Activity
• Speculative purchases, including currency speculation e.g., Cryptocurrency, gambling, stocks, and shares.
• Transfer of title where the transferor(s) are bankrupt and/or the purpose is to avoid payment of their liabilities to creditors.
• Where the purchase application is part of an assignable contract.

Acceptable types of additional borrowing include:

• Staircase to 100% shared ownership
• Repay Help to Buy Loan
• Repay Shared Equity Loan
• Purchase of Timeshare
• Purchase of a Buy to Let Property
• Purchase of 2nd Home /Holiday home
• Home Improvements (Non-Structural; Improvements to a habitable property, such as a new kitchen or bathroom, central heating, replacing double glazing, decoration, essential repairs, or maintenance to the property.)
• Purchase Lease Extension/ Purchase of Freehold
• School Fees
• Debt Consolidation (Broker channel only)
• Remortgage on unencumbered property (buy out partner)

Not accepted.

Where income from property represents an applicant’s primary source of income (i.e., where 50% or more of overall income is derived from rental properties) this will be treated as self-employed.

In cases where the Rental income makes up less than 50% of the customer's total income, we will include the income as long as it can be evidenced clearly by the latest 3 months bank statements.

Key the full amount and we will weight at 83%.

We will require the following for each of the rental properties:

• Address of property
• Outstanding mortgage balance
• Total annual rental income
• Total annual mortgage repayment

Where there are other associated costs relating to the property, such as management fees, they must also be declared or offset against the income.

All loans must be taken on a capital and interest (repayment) basis.

We do not accept interest only mortgages.

Any retention up to £5,000, subject to the Valuers comments, will be acceptable and the case will be allowed to proceed to full drawdown.

Where a retention amount of over £5,000 is stated by the Valuer the case will not proceed.

We do not accept applications where all borrowers are retired at the time of completion.

We do accept applications where all borrowers are due to retire within the term of the loan.

Planned retirement age must be keyed and cannot excceed 75. Underwriters will assess whether the planned retirement age is reasonable for the line of work, e.g. in the case of physically demanding roles.

Maximum age limits apply.

Retirement flats are not acceptable.

Currently retired

If any of the borrowers are currently retired the appropriate pension income fields should be completed.

Please ensure that any retirement income such as rental income, investment (not including pensions) are also entered under the appropriate fields.

Evidence requirements:

(Private Pension)

• Last three months’ pension payslips (if paid more frequently than monthly 3 months equivalent payslips); OR
• Latest Pension statement or annuity letter AND
• Last three months’ Bank statements

(State pension)

• Latest DWP (Pension service) state pension letter OR
• Latest bank statement

Retiring within 10 years

If any of the borrowers are retiring within the next 10 years, their expected retirement income must be entered. We will use the lower of the expected retirement income or the current income in our affordability calculations.

The expected retirement income entered should include all income received after retirement age at the appropriately weighted amount.

• Evidence of pension such as an annual statement, latest pension projection and/or SIPP valuation
• Where the retirement income is coming from other sources such as rental properties or investments, please refer to the relevant page.

Retiring in over 10 years

If any of the borrowers are retiring in 10 years or more, within the mortgage term, proof of pension contributions or funds will be required.

• Evidence of pension contributions on payslips or a pension pot

Not accepted.

Not accepted.

We do not lend on properties in Scotland.

Not accepted.

Can be considered where basic hours do not exceed 60 hours a week, in which case income will be weighted at 100%. Any hours completed over 60 hours a week will be classed as overtime and weighted at 75%.

Properties with a section 106 that restricts resale are not acceptable.

The property must be located in England or Wales and have an indisputable title without onerous covenants, restrictions or burdens on the title which adversely affect the value of the property or its future marketability as a private residence.

Properties with a section 157 are not acceptable.

Not accepted.

We define self employed applicants as those who:

• Are operating as a sole trader/partnership; or
• Are a shareholding equity partner in a Limited Liability Partnership (LLP) where they have been in continuous employment with their firm for a minimum of two years as an employee or partner/shareholder; or
• Have a shareholding of 20% or more in a limited company. This is the combined shareholding of all customers on the mortgage application who are associated with the same business.

We require proof of the latest 2 years trading for all self-employed applicants.

For all Self Employed applicants we will require the latest 3 months bank statements showing trading (Business or personal) to ensure that current earned income is consistent with that of the latest accounts/self-assessment. Where the trading has reduced we will reduce the income accordingly.

The maximum LTI is 4.49 where the primary borrower is self-employed.

Service change must not exceed 1% of the value of the property.

We will proceed with properties where there is a share of freehold as long as the share is equally divided by the number of dwelling.

We do not lend on any type of shared equity scheme other than remortgaging with additional borrowing.

We do not lend on any type of shared ownership scheme for purchases.

Acceptable, weighted at 100%. Must be guaranteed and evidenced across a minimum of 2 payslips or invoices.

Solar panels are acceptable where owned. Leased solar panels or where the Valuer comments that the saleability of the property would be affected are unacceptable.

The business must:

• Be registered in the UK,
• Have been trading for at least 2 years, and
• Provide tax calculations dated within 18 months of application

We will take the latest net profit for the affordability assessment where the income is deemed to be sustainable. Where there have been large increases or decreases in the year on year profit/income, please provide us with full details. We may ask for additional documents to ensure income used is sustainable.

We may accept Sole trader income where the company has been trading for less than 2 years provided that; the majority of the income of the application is coming from employment or longer trading self employment and a minimum of 1 years self assessment can be provided.

Evidence requirements:

• Last 2 years’ SA302s and corresponding Tax Year Overviews to match the declared income
• Last 3 months’ bank statements (business, if not seen in their personal) showing income and consistent trading as per their declared income
• Last 3 months’ personal statements showing expenditure (if different accounts are used)

Not accepted.

Not accepted.

Due to the temporary nature of Stipend income, it will not be accepted, unless evidence is provided of a future employment contract. In these circumstances the stipend income can be included on the basis that it is lower than the future employed income.

Stipend income is accepted for members of the clergy where the stipend income is for a longer term.

Student loan repayments should only be included where they are currently being repaid. Where the customers annual income does not meet the minimum threshold to begin repaying, it should not be included.

We will consider applications where 1 or more of the applicants is a student.

We will only accept Stipend income where a future contract of employment can be evidenced OR where received longer term as a member of the clergy.

We will not consider bursaries, student loans or grants as part of their income.

Studio style flats are acceptable where:

• The value is confirmed as being >£100k.
• The property has a city center location
• The valuer confirms that there is a resale demand for such property in the residential property market

We will not lend on any property purchased within the last 6 months, there are no exceptions to this rule.

Acceptable, weighted at 100%. Must have 12 months continuous employment within the role.

We allow cases with multiple owners to choose tenants in common. This can be either with fixed shares in the property, or using our dynamic ownership feature.

Not accepted.

Only acceptable where the income is in the applicant's name, the income and tax paid can be evidenced and is due to be paid for no less than 5 more years.

Acceptable, weighted at 100%. Treated as employed where tax is paid by employer, treat as self employed where pay own tax.

We allow capital raising on unencumbered properties that have been owned for a minimum of 6 months and are registered at land registry, for the purpose of Buying Out a Partner/s Only.*

*In this case, the max LTV is 80%.

For remortgage cases where the property is either unencumbered or inherited property, proof of property ownership must be obtained.

We do not lend where a property has a unilateral notice on it unless this is removed upon completion.

For a property to be considered as being acceptable security for mortgage lending it must be structurally sound and secure, easy to appraise and immediately habitable as a residential property. 

The definition of habitable requires the property to be capable of being lived in, in relative comfort:

• Be wind and weather tight.
• Be plastered out
• Have all services functioning and connected, and a kitchen with:
  • Functioning hot and cold-water supply to a sink
  • Adequate food preparation and storage facilities
• Have a functioning bathroom with bath or shower and WC and
• The inspecting surveyor has not commented that the property in its current condition is deemed uninhabitable.

Accepted with the following restrictions:

The benefit must be for the applicant and must be guaranteed.

Housing allowance must be deducted.

Child Tax credit should only included where being paid for the next 5 years from date of application.

At least one owner should be in full-time employment.

Required documents:

• 3 months Universal credit statements/summaries
• Latest months bank statement

Acceptable, but must be guaranteed. Weighted at 100%.

A mortgage valuation is conducted on all applications to ensure the property is suitable security. Completion of the loan should take place within 6 months of the original valuation date. Completions occurring outside of this period will be monitored.

Customers may choose to upgrade to a homebuyers survey.

For valuation fees (if applicable) see the product details in your sourcing system.

Not accepted.

If you believe your customer may potentially be vulnerable, or is defined as vulnerable as per the FCA’s Guidance on vulnerability, you MUST contact your dedicated Case Manager.

✉️ [email protected]

☎️ +44 3308 081791

Acceptable, weighted at 100%.

Can be considered where the applicant has 12 months continuous employment within a similar role and industry and continued employment can be verified.

Documents we require:

• Latest contract
• Latest 2 months payslips/invoices

(To verify 12 months continued employment)

• 12 months payslip OR
• 12 months bank statements OR
• Latest SA302 OR
• Latest P60