Lending criteria.

Indicates if we can potentially accept income where it is primarily made up of benefits. An example of this would be where benefit income exceeds earned income or represents more than 50% of total income.

We can potentially accept applicants whose income is made up primarily of benefits. Please note that some income is only taken at 50% or not at all, and your applicant would need to meet the minimum £25,000 per annum

Displays if we accept Buy to Let applications from borrowers who have had an IVA and if so how many years it must have been satisfied for. An IVA is satisfied when the payment plan has been completed. 

IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.

This criteria displays how long ago it must have been satisfied so you should read the policy notes carefully to check if the lenders specifies how long ago it must have been registered.

We can consider applicants who have had an IVA. The IVA must have been satisfied for 3 years. Please note that a maximum LTV of 75% is applicable with a previous IVA.

Displays if we accept Buy to Let applications from borrowers who have had an IVA and if so how many years ago it must have been registered. An IVA is registered when a payment plan is agreed with the creditors. 

IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered. 

This criteria displays how long ago it must have been registered so you must read the policy notes carefully to check if the lender specifies how long ago it must have been satisfied as well.

We can consider applicants who have had an IVA. The IVA must have been satisfied for 3 years. Please note that a maximum LTV of 75% is applicable with a previous IVA.

Specifies if we are able to potentially consider a Buy to Let application from an applicant who has previously had an Individual Voluntary Arrangement (IVA) registered against them. 

IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.

This criteria displays if a person who has had an IVA can be considered on a general level but you should read the policy notes and related criteria carefully to dig deeper with regard your clients specific situation.

We can potentially consider applicants up to 75% LTV, as long as the IVA was satisfied at least 3 years ago.

Indicates if we can consider an inter-family buy to let application with no discount being offered

We can potentially consider an application from an inter-family sale with no discount being offered