During these uncertain times, we are doing everything we can to help you and your clients carry on as ‘normal’. In light of this, please see the below updates we have made to our lending criteria and valuation process.

Lending LTV limits

At the present time, we have chosen to only lend up to 85% LTV across our product range. This is subject to change at any time. Applications over 85% LTV may be considered on our Family Assist Mortgage (terms and conditions apply).

Valuation Process

  • We continue to accept residential applications up to 85% LTV.
  • We have now resumed physical valuations.

Income Criteria

  • Bonus and overtime payments will continue to be considered for key workers only. This will be based on their last 12 months average earnings.
  • Applications from furloughed applicants will only be considered if a return to work date has been confirmed by their employer. Please note, any offer will be conditional on their income and employment being re‐validated prior to completion.
  • Self‐employed applicants must be able to demonstrate a clear 3-month income feed, accompanied by their most recent SA302’s. Again, they will be subject to re‐validation prior to completion.
  • Applications for zero hour contracted "key workers" can still be considered.

New lending exclusions

In light of the current climate, the below exclusions have been added to our existing list:

  • Remortgage applications for debt consolidation.
  • Applications on new build flats.
  • Applications for Shared ownership properties.

BTL Specific Amendments

We are not currently lending on Buy to Let mortgages.

Keeping you informed

This page was last updated on 01 July 2020.