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A - Z of Property types

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A - Z of Application criteria
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A - Z of Property types
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A - Z of Purchasing schemes
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A - Z of Property types

Untitled

Property typeAcceptableComments
Acreage
Maybe
Properties are accepted with land up to 5 acres but we do not accept any property with agricultural ties
Agricultural Ties
No
Properties are accepted with land up to 5 acres but we do not accept any property with agricultural ties
Annexe
No
Properties with annexes are not acceptable.
Asbestos Roof
No
Properties with asbestos roofs are not acceptable.
Cladding
Maybe
All properties will be checked for cladding by the valuer and may proceed subject to the valuers comments. An EWS1 form may be required. 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 at the applicant's earliest convenience so as not to delay the application.
Commercial use
No
Working from home would be permitted, however, any profession which means people come to the property or any form of commercial element will not be permitted
Compulsory Purchase Order
No
Properties with compulsory purchase orders are not acceptable.
Ex-local Authority
Yes
We will lend on ex local authority houses and flats subject to a minimum valuation of Β£100,000 outside of London & South East and Β£150,000 within London & South East. Flats are subject to a maximum of 5 stories outside London & South East and 10 stories within London & South East.
Feudal Ownership
No
Feudal ownership properties are not acceptable.
Flats above or adjacent to commercial premises
Maybe
We will only consider properties that are above or adjacent to commercial premises where the following conditions apply: β€’ Where the minimum Valuation exceeds Β£100,000 outside LSE and Β£150,000 inside LSE. β€’ Where 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: β€’ Where they are regarded by the Valuer as unsuitable on the grounds of noise, smell or danger to health and safety. β€’ Where the Valuer advises the location of the property is likely to attract anti-social behaviour. β€’ Where the Valuer cannot recommend the security and believes the location materially impacts future saleability. β€’ Where a property is in the same building and adjacent to or above food outlets, public houses, nightclubs, takeaways, shops selling perishable foodstuffs, pet shops and petrol stations
Flying Freehold
Maybe
We will lend where up to 20% of the property is a flying freehold
Freehold/Leasehold Flats
Maybe
We will accept applications on leasehold houses subject to our lease requirements We will allow applications where the applicant will own part of the freehold We will accept applications where a management company is in place
Grade 1 Listed properties
No
We do not lend on grade 1 listed properties
Grade 2 Listed properties
Maybe
We will consider grade 2 listed properties on a case by case basis and subject to valuer comments
High Flood Risk (Sea & Rivers)
No
We will not proceed where the subject property is in an area of high flood risk from rivers and/or sea. Refer to β€˜Flood Risk’ page for full guidance
High Rise Flats
Maybe
We will lend on high rise flats up to 10 stories. Any building over 5 floors must have a working lift.
Holiday homes
No
We will not lend on holiday homes that cannot be lived in all year round
Houseboats
No
Investment properties
No
We will not lend on investment properties as we only provide residential mortgages, not Buy-to-Lets
Japanese Knotweed
Maybe
We will consider applications subject to valuers comments and a present condition valuation figure
Large homes (high bedroom count)
Maybe
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
Lease Extensions
Yes
We will accept properties with an extension to the lease which will need to be completed by the solicitor prior or upon completion and also meet our lease criteria; - Minimum of 75 years at the start of the mortgage - Minimum of 50 years at the end of the mortgage
Minimal Floor Space
Maybe
Gross internal floor area must be a minimum of 35sqm
Mobile homes
No
Mobile homes are not acceptable.
Multiple kitchens
No
We will not lend on a property where there is more than one kitchen
Overage clause
No
Properties with overage clauses are not acceptable.
Properties held in trust
No
Properties held in trust are not acceptable.
Properties outside of England & Wales
No
We only lend in England & Wales. We will not lend on any properties outside of these countries.
Properties with a section 106
Maybe
Properties with a section 106 that restricts resale are not acceptable. Properties with a section 106 that have no restrictions to sale, maybe accepted subject to the valuers comments.
Properties with a section 157
No
Properties with a section 157 are not acceptable.
Retirement flats
No
Retirement flats are not acceptable.
Self Build
No
Self Builds are not acceptable
Small homes (Studio flats)
Maybe
Individual studio flats maybe acceptable where:- there is a minimum internal floor space of 35sqm/376sqft- theΒ  lounge and bedroom are separate- the property has a minimum valuation of Β£150,000 Exceptions may be made if the property is located in a city center location, where the Valuer confirms that there is resale demand for such property in the residential property market.
Solar Panels
Yes
Properties with solar panels are acceptable subject to valuers comments
Sub Sales & Back-toBack Transactions
No
We will not lend on any property purchased within the last 6 months, there are no exceptions to this rule
Unilateral Notice
No
We do not lend where a property has a unilateral notice on it unless this is removed upon completion.
Uninhabitable properties
No
We will not lend on properties that do not have a working kitchen and bathroom (except New Build properties which will be habitable at completion)
Unusual construction types
Maybe
Timber, BISF and concrete construction properties will generally be subject to valuers comments and suitability for mortgage purposes