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Maximum LTV
Expanded higher LTV criteria:
95% Lending Criteria (Excluding New Builds)
Applicants
- Clean Credit history (0 missed payments in the last 3 years)
- As with all lending above 85% LTV, the maximum LTI is <4.5x income
- Income: At least 50% of the Homeowner's total income must be derived from Employed income (Employed income received from an Owners LTD company must be excluded from the 50%). We will not consider applications where the owners total income is solely from self-employment.
- Applications where the home owners have no employed income are not eligible for 95% LTV borrowing.
Example 1 > Employed owner receiving £50,000pa & a Self-employed owner receiving £40,000 dividends pa and a salary of £10,000pa. All income can be included.
Example 2 > Employed owner receiving £50,000pa & a Self-employed owner receiving £55,000pa. Only £50,000 of the Self-employed income should be keyed on the application.
Loan
- Maximum loan is limited to £500k (£700k in London and South East)
Property
- Available on flats and houses
- Not available on new build properties
90% Lending Criteria for New Build houses
New Builds are defined as any properties built or converted in the last 12 months ago.
Applicants
- Clean Credit history (0 missed payments in the last 3 years)
- As with all lending above 85% LTV, the maximum LTI is <4.5x income
- Income: At least 50% of the Homeowner's total income must be derived from Employed income (Employed income received from an Owners LTD company must be excluded from the 50%). We will not consider applications where the owners total income is solely from self-employment.
- Applications where the home owners have no employed income are not eligible for 95% LTV borrowing.
Example 1 > Employed owner receiving £50,000pa & a Self-employed owner receiving £40,000 dividends pa and a salary of £10,000pa. All income can be included.
Example 2 > Employed owner receiving £50,000pa & a Self-employed owner receiving £55,000pa. Only £50,000 of the Self-employed income should be keyed on the application.
Loan
- Maximum loan is limited to £500k
Property
- Available on new build houses
- Not available on new build flats (Limited to 85%)
