Lending criteria.
We can help with all types of cases, so check our lending criteria for the latest guidelines.
Our criteria is split into residential and buy to let, so use the options below to find the criteria you need.
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Maximum Aggregate Portfolio LTV (within group or lender)
We do not lend to portfolio landlords.
Maximum debt to income ratio
We will consider clients total borrowing and conduct, but no official income ratio is set. Please refer if the debt exceeds the clients personal income (excluding other BTL mortgages and residential mortgages).
Maximum Ground Rent (as % of Property Value/Purchase Price)
We have no maximum threshold percentage against the property value that the ground rent cannot exceed.
Maximum length of time of assured shorthold tenancy (AST)
The maximum number of months on an Assured Shorthold Tenancy (AST) is 36 months
Maximum Loan Size (80% LTV)
We can lend up to £1,000,000. If you need a larger loan, please contact the Business Development Team to discuss further.
Maximum Loan to Value (LTV)
Our maximum LTV for a Buy to Let applications is 80%.
Maximum LTV across the whole portfolio
We do not lend to portfolio landlords
Maximum Mortgage Arrears in last 24 Months
We can potentially accept applicants with unsecured arrears in the past 24 months but this is dependent on the LTV of the case and how many. This is reviewed on a case by case basis.
Maximum number of applicants allowed
We will accept up to 2 applicants on an application. Please contact our Business Development Team if you have an application with more than 2 applicants as this will be subject to underwriter approval (this excludes Expat applications).
Maximum Number of CCJs (Satisfied)
We can consider applicants with up to 1 satisfied CCJ. If you have multiple CCJ’s, or your CCJ is over £500, you will need to refer this to the Business Development Team. Multiple CCJ’s that equate to over £1,000 may not be accepted so please refer.
Maximum Number of CCJs (Unsatisfied)
We will not consider applicants with unsatisfied CCJs.
Maximum Number of Defaults (Satisfied)
We can consider applicants with up to 1 satisfied Default. If you have multiple Default’s, or your default is over £500, you will need to refer this to the Business Development Team. Multiple Default’s that equate to over £1,000 may not be acceptable so please refer.
Maximum Number of Defaults (Unsatisfied)
We will not consider applicants with unsatisfied Defaults.
Maximum number of rental properties MORTGAGED with ALL lenders
Maximum number of storeys considered for lending on ex local authority flats
We are not able to lend on ex local authority flats unless on a Right to Buy application
Maximum number of storeys considered for lending on ex local authority flats
We are not able to lend on ex local authority flats unless on a Right to Buy application
Maximum number of storeys considered for lending on flats
Maximum number of storeys we can consider is 7.
Maximum number of stories where no lift is present
We have a limit of 5 storeys in a flat where no lift is present
Maximum number of students considered on one AST
We will not consider applications of this nature
Maximum number of tenants on an assured shorthold tenancy (AST)
The maximum number of tenants permitted on a single Assured Shorthold Tenancy is 4. A family unit, couple of an single person would be preferred, however, we can consider a maximum of 3 professionals. The property must still be let via a standard ASTA agreement and not be classed as a HMO.
Maximum Term (Years)
Our maximum term is 30 years
Maximum Unsecured Arrears in last 24 Months
We can potentially accept applicants with unsecured arrears in the past 24 months but this is dependent on the LTV of the case and how many. This is reviewed on a case by case basis.
Maximum Value of CCJs (Satisfied)
We can consider applicants with satisfied CCJs up to a maximum value of £500. If you have CCJ’s over £500 please contact the Business Development Team to discuss. Please note that if your CCJ is over £500 or if you have multiple CCJ’s that equate to over £1,000 you will need to refer.
Maximum Value of CCJs (Unsatisfied)
We will not consider applicants with unsatisfied CCJs.
Maximum Value of Defaults (Satisfied)
We can consider applicants with satisfied Default up to a maximum value of £500. If you have a Default’s over £500 please contact the Business Development Team to discuss. Please note that if your Default is over £500 or if you have multiple Default’s that equate to over £1,000 you will need to refer.
Maximum Value of Defaults (Unsatisfied)
We will not consider applicants with unsatisfied Defaults.
Minimum Income Requirement
The minimum income requirement for a BTL application will be £25,000 gross income. Please note that in the case of joint applicants, one applicant must earn the minimum required figure of £25,000 gross.
Minimum Landlord Experience (in MONTHS)
We have no minimum experience requirement for applicants.
Minimum Length of Time Employed (in MONTHS)
We require applicants to have been in employment for at least 6 months. If less than this, please contact our Business Development Team to discuss further
Minimum length of time of assured shorthold tenancy (AST)
The minimum number of months required on an Assured Shorthold Tenancy is 6 months.
Minimum Loan Size
Our minimum loan size across all products is £75,000.
Minimum Percentage of Properties under Private Ownership on Ex-Local Authority Blocks of Flats
We do not lend on Ex Local Authority Flats on a BTL basis.
Minimum Property Value for standard Buy to Let lending
Our minimum property value on BTL applications is £100,000
Minimum remaining lease at application
If property is leasehold there should be a minimum of 85 years remaining on the lease at the commencement of our advance.
Minimum remaining lease at end of term
Our minimum lease at the start of the loan is 85 years
Minimum Term (Years)
The minimum term is six years
Months passed where Mortgage Arrears can be ignored
We can potentially ignore previous mortgage arrears that are older than 48 months old on a case by case basis.
Multi Unit Freehold (multiple properties on same title)
We do not lend on ‘Multi Unit Freehold’ properties.
Multi Unit Freehold Maximum Number of Flats
We do not lend on ‘Multi Unit Freehold’ properties.
Multi Unit Minimum Floor Area of each Unit Requirement (Sq Meters)
We do not lend on ‘Multi Unit Freehold’ properties.
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