How we’ve adapted to ensure you get the same delivery standard you have come to expect from us.
Latest changes to our lending criteria: 1 May 2020
During the current situation we will continue to review our lending criteria on a daily basis and will continue to react as appropriate. The following changes have been made:
- Rate change across all Shared Ownership products. £ year Discount to SVR -1.46%, 2 and 3 year fixed rates move from 2.99% to 3.19% and the 5 year fixed rate from 3.39 to 3.59%
- Max Loan to value 70% (Residential, Buy to let and Shared Ownership and Help to Buy) NB: Shared Ownership up to 95% of share available providing the overall LTV doesn’t exceed 70%
- If self-employed - 3 years accounts mandatory, maximum income multiple is 4x
- Contractors must have a 2 year history of contracting, with 6 months remaining on the current contract. Maximum income multiplier is 4x
- No income stretches – 4.5x maximum
- For Furloughed borrowers, cases will be individually assessed
- No self-build mortgages
- No holiday lets
- No bridging loans
We will update this page when any further changes are made.
If you are unsure about anything please contact us. Alternatively you can download a copy of our Product Guide which can be found on our forms and guides page.
Keep up to date with our latest product news and criteria changes.
Very easy to deal with. Happy to look at any enquiry and give a quick response.