Mortgage product changes

Coronavirus (COVID-19)

Updated Thursday 29 October

As a result of the Coronavirus (COVID-19) pandemic, we have temporarily restricted new mortgage applications for residential purchase and remortgages to up to 90% loan to value (LTV) in our operating area and up to 85% elsewhere (75% in London & SE England).

We are now accepting up to 75% LTV on Holiday Let mortgages, with other commercial purchase and remortgages currently restricted up to 60% LTV in our operating area and 50% LTV elsewhere.

Mortgage products for existing borrowers are unaffected, although further advances will be restricted to up to 80% LTV.

Our decision to restrict our range of mortgage products has been made due to the limited availability of surveyors to visit properties. While we expect this to be a temporary measure, we cannot yet say how long it will be in place for. We are continually monitoring the situation with COVID-19 and its impact on the mortgage market and we will review our full mortgage range when circumstances allow.

If you have already applied for a mortgage

Depending on specific circumstances, customers who have applied for a mortgage but not yet completed may be impacted in the following ways:

  • If an offer has been issued it will proceed unaffected. If you’ve got less than a month before your offer expires and you need an extension, please contact us.
  • If no offer has been issued but a valuation has been carried out, or we have an in-date Scottish Home Report, the application will proceed. It will, however, be subject to a review of the potential impact of COVID-19 on the income required to support the application.

Customers with an existing application where a valuation has not yet been carried out, who will be impacted by these changes, will be contacted shortly.

If you'd like to speak to us about your mortgage, you can book a telephone appointment online. Unfortunately we are unable to accept branch appointments at this time. However, you can use our appointment system to book a call with one of our mortgage advisors. We will call you back to confirm the appointment.