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Maximum LTV

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Maximum LTV

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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.
  • Example 1 > Employed owner receiving Β£50,000pa & a Self-employed owner receiving Β£40,000 dividends pa and a salary of Β£10,000pa. All income can be included.

    Example 2 > Employed owner receiving Β£50,000pa & a Self-employed owner receiving Β£55,000pa. Only Β£50,000 of the Self-employed income should be keyed on the application.

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

Loan

  • Maximum loan is limited to Β£500k (Β£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.
  • Example 1 > Employed owner receiving Β£50,000pa & a Self-employed owner receiving Β£40,000 dividends pa and a salary of Β£10,000pa. All income can be included.

    Example 2 > Employed owner receiving Β£50,000pa & a Self-employed owner receiving Β£55,000pa. Only Β£50,000 of the Self-employed income should be keyed on the application.

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

Loan

  • Maximum loan is limited to Β£500k

Property

  • Available on new build houses
  • Not available on new build flats (Limited to 85%)

Applicable for Re-mortgaging:

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