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Remortgage & Additional Borrowing

Affordability calculator Gen H Pro log in

Application β†’ All guides

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A - Z of Application criteria
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Deposit sources
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Direct Debits
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Early repayment charges
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Expanded higher LTV criteria (95% LTV)
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Interest
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Loan to income multiples
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Loan purpose
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Loan size
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Location
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Maximum LTV
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Mortgage Term
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Offer validity
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Overpayments
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Payment holidays
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Porting
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Rate switches
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Remortgage & Additional Borrowing
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Repayment methods
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Adverse Credit
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Age
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Applicants
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Asylum Seekers
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Boosters
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Commitments & Expenditure
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Customer Verification
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Dependants
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Expat
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First-Time Buyer
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Home Movers
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Non UK Nationals
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Overseas applicants
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Owners
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Retirement
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Students
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Vulnerable Customers

Income and employment β†’ All guides

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A - Z of Income types
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Benefit income
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Contract workers
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Employed
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Foreign currency income
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Holiday Lets
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Minimum incomes
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Other income types
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Parental Leave
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Pay increases
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Pension
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Piecework
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Rental income
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Retirement income
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Self Employed
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Stipend Income
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A - Z of Property types
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A - Z of Purchasing schemes
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Bedroom count
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Construction types
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Current value
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Discounted purchase price
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Flood Risk
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Help to Buy
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Leasehold
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New builds
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New Build; Incentives & Part Exchange
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Property Charges
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Property values
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Retentions
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Tenure types
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Valuations

Packaging guide β†’ All guides

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Employed income
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Investment income
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Maintenance income
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Parental Leave
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Rental income
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Self-employed income
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Sole traders income
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Address verification
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Additional support
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Identification
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Miscellaneous
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Occupier’s consent
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Proof of deposit
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Retirement plans and pension

Completions

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Conveyancing
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ILA

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Privacy notice

Remortgage & Additional Borrowing

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

Refer to Maximum LTV page for a breakdown of our max LTV/lend limits.

Additional Borrowing

Additional borrowing may be permitted outside of any fixed rate period.

Remortgage with Additional Borrowing

The purpose of additional borrowing should be genuine, legal and Generation Home does not support speculative investments.

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Remortgage LTV limits
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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.

  • 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.
  • Purchase of second home
  • Accident Sickness and Unemployment premiums

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Acceptable types of additional borrowing include:

Staircase to 100% shared ownership

  • Repay Help to Buy Loan
  • Repay Shared Equity Loan
  • Purchase of Time share
  • Purchase of a Buy to Let Property
  • Home Improvements (Non-Structural)
  • Purchase Lease Extension/ Purchase of Freehold
  • School Fees
  • Debt Consolidation (Broker channel only)
  • Remortgage on unencumbered property (buy out partner)