Lending Criteria

Welcome to common sense lending

Our mortgage decisions are made by real people, not computers. We consider cases that many other lenders don't, including multiple letting units on one title, properties across split titles, limited companies and more.

Applicant type	We lend to individual applicants or limited company SPV. Applicants must reside in the UK and also have indefinite right to remain in the UK
Lending area	We lend throughout mainland UK and the isles of Anglesey, Arran, Mull, Skye, Lewis, Harris and Wight
Applicant	Minimum sole/joint income £25,000 Where earned income is required to meet affordability for the loan, a minimum of £50,000 sole/joint income is required-additional criteria applies see criteria guides Maximum of 4 joint applicants
Maximum LTV	We can lend up to 75% of the property value
Loan size	The minimum loan size is £75,000
Term	Maximum mortgage term is 30 years
Repayment Method	Both Interest Only or Capital & Interest Repayment are available
Property	The minimum property value must be £150,000 Properties which are temporary, or moveable are not eligible
Rental coverage	To meet our criteria for rental coverage, annual net rental income For product terms of less than 5 years the annual rental income should be a minimum of 145% (after deduction of 20% from the gross rent for letting agent costs) of the annual mortgage interest calculated using the rate of 5.5% or product rate + 2%, whichever is the highest. For product terms of 5 years or more the annual rental income should be a minimum of 145% (after deduction of 20% from the gross rent for letting agent costs) of the annual mortgage interest calculated using the rate of 4.5% or product rate + 1%, whichever is the highest. For customers who have existing Buy-to-Let / Holiday Let properties the ICR of the existing portfolio should meet 145% ICR, stressed at new borrowing product rate +1% or 4.5% whichever is the highest. (For Buy-to-Let the gross rent can be used for Holiday Let the net rent should be used, that is after deduction of 20% for letting agent costs) For the new lending affordability calculation we use ICR where the customer requires an interest only mortgage. Where a repayment mortgage is required then we use the monthly repayment mortgage amount at the stressed rate to calculate affordability.
Shareholder age	We are unable to provide lending if any of the shareholders are under 18 years old

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