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Lending criteria

Our helpful criteria tool enables you to search or filter to find the information you need.

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.
 

Lending criteria
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