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Completions
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.
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
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)