Please Note: The information included within these pages is for for use by FCA authorised intermediaries only. If you are a customer please visit our customer web pages.

Lending Criteria

Important Information: We are currently only accepting applications from intermediaries located within our branch operating area. Our operating area is Cumbria (CA and LA postcodes), South West Scotland (all DG and TD9 postcodes), North Lancashire (all PR, FY, LA, BB1-BB2 and BB5-BB7), West Northumberland (NE45-49).

Please find below a link to our full Criteria Guide. The various sections within the contents page are hyperlinked to make it easier to find the information you are looking for. However, listed below is a quick overview of answers to our most common criteria questions.

Download Criteria Guide

  • We are currently only accepting applications from Intermediaries located within our branch operating area. Click here to see the map of our operating area.

  • UK resident

  • Minimum age: 18 years old

  • Maximum age to be classed as not lending in/into retirement: 70 years old

  • Maximum age at end of mortgage term: 80 years old Interest Only or 85 years old Repayment

  • Minimum loan amount: £20,000 or £50,000 for our exclusive First Time Buyer products

  • Minimum term 2 years and maximum term 40 years

  • Income Multiplier:

    4.49 x sole/joint where income is less than £40,000.

    6 x sole/joint where income is equal/greater than £40,000

  • Self-employed income: average of last 2 years SA302’s but we can refer to revert to annual accounts for majority shareholders (Section 4.4 of Criteria Guide)

  • Fixed and Zero Hours contracts are acceptable (Section 4.4 of Criteria Guide)

  • We accept most types of income at 100% but benefit income cannot represent more than 50% of total household income

  • Maximum loan to value on interest only or part repayment basis 75% . Interest only element capped at 60% for sale and downsize. (see Section 4.8 of Criteria Guide for further detail)

  • Maximum loan to value when lending ‘Into retirement’ 80% repayment, 75% Interest Only, 75% Part and Part. Interest only element capped at 50% for sale and downsize.

  • Maximum loan to value when lending ‘In retirement’ 70%. Customers already in retirement are unable to use ‘sale and downsize’ as their repayment strategy. (see Section 2.1 of Criteria Guide)

  • Free valuation on all applications up to £750,000 loan amount

  • Free legal service on remortgage applications up to £750,000 loan amount

  • Shared Ownership/S106 agreements considered subject to review of the contract terms

  • Applicants with Impaired Credit History, defined as:

  • Credit Reference Search shows that in the last 2 years they have been 3 months or more overdue on a mortgage or loan, unless due to a Bank or Third Party error;

    OR

    Credit Reference Search shows that in the last 3 years they have had 1 or more CCJs (settled or unsettled) with a total value of greater than £500;

    OR

    Has been subject to an IVA or Bankruptcy Order which was in force at any time within the last 3 years

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