Lending criteria.

We are currently not able to consider earned income in affordability assessment.

We can extend a clients mortgage offer.

We will not use the current rent received from the current tenant for affordability assessment when it exceeds the valuers estimate.

We will not use the valuers rental estimate for affordability assessment when it exceeds the AST.

We can potentially consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago. For applications where the LTV is less than 80% we will ignore CCJ’s made more than 1 year ago which has since been satisfied. For applications where the LTV ratio is over 80% we will consider CCJ’s up to £500 made over 12 months ago but now satisfied.

We can potentially consider applicants that have had CCJs registered more than 24 months ago and less than 36 months ago. For applications where the LTV is less than 80% we will ignore CCJ’s made more than 1 year ago which has since been satisfied.For applications where the LTV ratio is over 80% we will consider CCJ’s up to £500 made over 12 months ago but now satisfied. Where the applicant has multiple CCJ’s, defaults or they exceed £1000 in value refer to underwriting.

We will not consider applicants that have had CCJs registered more than 3 months ago and less than 12 months ago.

We will not consider applicants that have had CCJs registered in the past 3 months.

We can potentially ignore any CCJs that were registered over 36 months ago. Where the applicant has multiple CCJ’s, defaults or they exceed £1000 in value refer to underwriting.

We do not accept Buy to Let applications for Limited Companies, we only allow applications in customers sole names.

We can accept applications classed as a ‘Consumer Buy to Let (CBTL)’. They are treated the same as standard BTL applications.

We do not accept applications where contract reassignment exists

We can potentially ignore County Court Judgements that have been satisfied. Either the original Satisfaction Certificate must be seen prior to completion or the credit search must confirm that the CCJ is satisfied. For applications where the LTV is less than 75%, we will ignore CCJs that were made more than a year ago that have since been satisfied. CCJs up to £500 made within the last 12 months but now satisfied are also considered. Where the LTV ratio is over 75%, we will ignore CCJs that were made more than three years ago that have since been satisfied. CCJs up to £500 made over 12 months ago but now satisfied are acceptable.

We will not consider applicants that have a CCJ outstanding, this would need to be satisfied

We can potentially consider allowing borrowers to take a payment holiday due to problems relating to the Covid-19 outbreak.Following the government’s statement on 17 March 2020 regarding mortgage payment holidays, we have updated our approach to how we can offer this to our members affected by COVID-19. Affected borrowers who are up to date with their mortgage payments and seeking a mortgage payment holiday are asked to complete and return our self-certification form by post or by email to [email protected] (we suggest using secure email where possible). Agreed arrangements will not be reported to credit reference agencies. Borrowers who are already in a payment shortfall or arrears will need to contact us in the first instance to discuss the options available.

We will not waive fees for late payments that were due to payment difficulties related to the Covid-19 outbreak at this time unless a payment holiday has already been agreed within a reasonable time before the next payment.

Most Covid-19 policy points no longer stand and normal policy has resumed. If you would like to find something specific, please contact the Business Development Team to discuss further.

Please contact the Business Development Team to discuss further.

We use TransUnion as a credit reference agency when assessing applications

We use TransUnion as a credit reference agency when assessing applications

We use TransUnion as a credit reference agency when assessing applications

We do not credit score. We will carry out a credit search for all applicants at all known addresses covering a three-year history. All parties eligible to vote should appear on the Voters Roll at those addresses. Where an applicant does not appear on the Voters Roll, we will need alternative satisfactory proof of residency, for a full two-year history from the date of application. If the applicants are existing customers then no proof of residency will be required (although we will still carry out a credit check). Any proof of residency must be original. Alternatively, copies can be accepted annotated with wording similar to “I confirm this is a true copy of the original document”. The documentation should be signed and dated by the mortgage intermediary.

We can potentially accept applicants that have criminal convictions. These convictions must be spent and cannot be monetary related, such as fraud, money laundering etc.