Location of property
We can consider mortgages against property in England, Scotland and Wales.
If you require a mortgage against property in Jersey, Guernsey or the Isle of Man then please call us to discuss.
Maximum Loan to Value ratios
Capital and interest mortgage
- Up to £1 million - up to 75%
- Over £1 million - up to 70%
Where there is a mix of repayment interest only then the lower Interest Only maximum Loan to Value will apply.
Interest only mortgage
- Up to £1 million - up to 70%
- Over £1 million - up to 65%
Maximum Interest Only Loan to Value ratio is up to 65% for Non-Res Non-Dom customers (no right to reside).
New build criteria (for houses or flats)
Capital and interest mortgage
- Up to £1 million - up to 65%
- Over £1 million - Call us to discuss
Interest only mortgage
- Up to £1 million - up to 65%
- Over £1 million - Call us to discuss
Minimum loan size
£100,000 (£25,000 for Further Advances)
Maximum total borrowing
Limited to £3.5 million per customer connection
Term
Capital and interest mortgage
- Minimum - 3 years
- Maximum - 25 years
Interest only mortgage
- Minimum - 3 years
- Maximum - 20 years
When considering the suitability of the Term requested we will consider the expected working lifespan of the customers profession.
Repayment option
Capital and interest OR Interest only
Minimum income
£25,000 or £50,000 where borrowing is over £1 million
Age
- Minimum - 18
- Maximum - 70 at the end of the term or scheduled retirement age, whichever occurs first.
Other important information
The maximum number of Buy to Let properties a customer can own, whether mortgaged or unencumbered, is 10 properties.
A customer is deemed to be a Portfolio Landlord if they own (or will own) between 4 and 10 Buy to Let properties, whether mortgaged or unencumbered, including properties let out under a consent to let arrangement.
A rental assessment (Rental Valuation) is required on existing UK properties for all applicants.
We do not lend by way of Buy to Lets to Professional landlords. These are classed as customers who own (or will own) more than 10 properties, whether mortgaged or unencumbered.
A new build is defined as any property built, first occupied in its current state or significantly modernised, refurbished or altered within the last 2 years.
For Foreign nationals without UK residential qualifications we require a minimum 100% rental coverage assessed at our sensitized rate of interest pass affordability.
