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|Maximum Age||The loan must be repaid before the oldest applicant's 75th birthday.|
|Maximum Number of Applicants||2|
|Minimum Income||£18,000 per application (no foreign currency income).|
|CCJs/Defaults||There is no maximum value of CCJs and Defaults. Please see the current Product Guide.|
Fixed term credit agreements and loans:
Applicant(s) must have paid the last 12 months payments.
Revolving credit, mobile phones and utility bills:
Arrears in the last 12 months will be considered.
|Backruptcy||Discharged > 6 years ago.|
|IVA||Discharged > 6 years ago|
|Repossession||None in the last 6 years.|
None current and none in the last 12 months
Applicants who are non-UK citizens must have been permanently resident in the UK for the past three years and must have indefinite leave to remain in the UK and be a UK tax payer.
Applicants residing in the Isle of Man and Channel Islands are not acceptable.
|Diplomatic Immunity||Not accepted
Minimum of 6 months in current job and not in probation.
Evidence of employment history is required to cover the last 12 months.
Applications will be accepted for contract workers, provided they have been in employment with the same employer for the last 12 months. Confirmation must also be provided that the contract will be ongoing and renewed.
Directors with a shareholding of more than 25% will also be classified as self employed.
|Self Employed||The applicant(s) must have been in their current business for a minimum of 12 months.
Minimum income is £18,000 per application (no foreign currency).
Min income is £18,000 per application (no foreign currency).
For Sole Trader/Partnerships:
SA302s - as long as they are supported by the 3 months current and business bank account statements.
For Company Director:
Maximum £1 million.
Minimum 5 years.
Maximum 35 years.
We will consider remortgage applications where the applicant has been the registered owner for the last 6 months.
|Let to Buy||Allowed|
|Right to Buy||
Properties that do not have any pre-emption remaining will be considered.
Evidence of Deposit
Evidence of the source is required.
Gifted deposits are acceptable from the following:
|Minimum Property Value||£70,000|
|Locations||England & Wales|
Houses, private and ex local authority or social housing.
Flats, private only.
Flats & Maisonettes
|Leasehold||The lease must have a minimum unexpired term of 85 years at the time of application.|
|Purchase Price / Estimated Value||Valuation Fee Inclusive of VAT|
|Less than £100,000||£320|
|£100,001 - £150,000||£350|
|£150,001 - £200,000||£400|
|£200,001 - £250,000||£450|
|£250,001 - £300,000||£480|
|£300,001 - £350,000||£500|
|£350,001 - £400,000||£550|
|£400,001 - £500,000||£575|
|£500,001 - £600,000||£600|
|£600,001 - £700,000||£700|
|£700,001 - £800,000||£750|
|£800,001 - £900,000||£800|
|£900,001 - £1 million||£850|
|More than £1 million||By arrangement