Standard residential mortgages

Buying your own home is one of the biggest financial decisions you’ll ever make. We understand no two borrowers are the same which is why we offer a flexible approach to mortgage criteria with manual underwriting. The range includes 95% Residential mortgages, where you only need a 5% deposit to get on the property ladder.

Our Standard Residential mortgages offer a Joint Borrower Sole Proprietor option, which may be useful if affordability is tight, as we take into account parent’s income when assessing the mortgage application, without them becoming a legal owner of the property. Give our mortgage team a call to chat about your individual situation.

Mortgages are secured against your home. You could lose your home if you do not keep up payments on your mortgage.

*Please note we have temporarily withdrawn our Fixed Rate Residential product range. New products will be launched in early May, date will be confirmed.*

Affordability calculator

Find out how much you can borrow with our affordability calculators.

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Monthly payments calculator

Use the calculator to find out what your monthly payments might be based on the mortgage product and the type and term of your borrowing.

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Mortgage details

Property value i

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Mortgage amount required i

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Your loan to value is i

We’re sorry but the maximum LTV for this product is X%

Mortgage repayment type i

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Mortgage term i

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Your estimated monthly payments: i

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Please scroll down for monthly payments by product.

This is the maximum amount based on the information you provided. Your mortgage adviser will take you through the application process and will calculate the amount you can afford to borrow based on your income after the deduction of those expenses and commitments. Further restrictions may apply for specialist products.

Variable mortgages

Our Standard Variable Rate (SVR) is currently 8.39% (variable).

There may be a limit on how low your interest rate can fall. This is called an ‘interest rate floor’. The interest rate floor applicable to your loan will be specified in your loan documentation.

Product name

Residential variable for 2 years

Initial rate

5.74%

Discount from SVR

2.65%

Overall cost for comparison

7.9% APRC

Max LTV %

80%

Product fee

£999

Mortgage repayment

£XXX.xx per month

Calculate

Product name

Fee Saver 95% Residential variable for 2 years

Initial rate

6.69%

Discount from SVR

1.70%

Overall cost for comparison

8.2% APRC

Max LTV %

95%

Product fee

£0

Mortgage repayment

£XXX.xx per month

Calculate

Product name

Fee Saver 80% Residential variable for 2 years

Initial rate

5.99%

Discount from SVR

2.40%

Overall cost for comparison

7.9% APRC

Max LTV %

80%

Product fee

£0

Mortgage repayment

£XXX.xx per month

Calculate

Product name

95% Residential variable for 2 years

Initial rate

6.44%

Discount from SVR

1.95%

Overall cost for comparison

8.2% APRC

Max LTV %

95%

Product fee

£999

Mortgage repayment

£XXX.xx per month

Calculate

Representative example
Representative example: A mortgage of £380,000.00 taken out for a period of 40 years on a repayment basis.
Monthly instalments: £2,209.50 per month for 23 months, followed by £2,478.36 per month for 36 months and finally £2,743.80 per month for 420 months.
Total amount payable: £1,293,964.46
Total amount of credit: £380,000.00
The total amount payable includes a valuation fee of £430.00, a product fee of £999.00 and a closing fee of £100.
The overall cost for comparison is 8.2% representative APRC.
This example is based on our Residential 95%, 2 year 1.95% discount mortgage. It is based on our current Standard Variable Rate of 8.39% with no fees added to the mortgage.
Please ask for a personalised illustration for your own particular requirements.
Repayment type
Interest only and repayment options available
Key features
- Availability – Purchase & Remortgage up to 95% Loan To Value (LTV). Minimum deposit of 5% required.
- Flexibility – Overpayments up to 20% of the capital balance as at 1st January are allowed in each calendar year without penalty.
- Portable.
Early repayment
For full repayment of a 5 year fixed product, you will pay 3% of the outstanding balance in years 1, 2, 3 & 4; 2% in year 5, plus a Closing Administration Fee (currently £100).
For overpayments of a 5 year fixed product, you will pay 3% on any amount exceeding your 20% limit in year 1, 2, 3 & 4, 2% in year 5.
For full repayment of a 2 year fixed or discounted product, you will pay 3% of the outstanding balance in the first year and 2% in the second year, plus a Closing Administration Fee (currently £100).
For overpayments of a 2 year fixed or discounted product, you will pay 3% on any amount exceeding your 20% limit in the first year and 2% in the second year.
Product fees
- Valuation fee.
- Product fee £999 (except for Fee Saver mortgages).

Lending criteria

Residential Lending Criteria and Information

Loan:	Size: Minimum £50,000. Term: Minimum 5 years, Maximum 40 years.
Property:	Minimum Value: £100,000. Must be in England, Wales or Scotland. We are also unable to offer a Right To Buy mortgage in Scotland.
Applicant:	Age: Minimum 18, maximum is 85, subject to income in retirement.
Income:	Household income must be at least £20,000. No minimum period of employment, but must have passed probation, or have 3 years self employment history.

The amount we will lend will depend on the value of the property and a calculation based on income and expenditure. As a guide, we will take gross annual income and then apply a deduction for the annual amount paid towards any existing debts or other financial commitments. We apply the following multipliers to the amount remaining:

Income After Deductions	Sole Borrower	Joint Borrowers
£20,000-£50,000	4.5x	4.5x
Over £50,000	5.0x	5.0x

These multiples are for guidance only and do not guarantee that we will lend the amount indicated. We will carry out a full assessment of your income and expenditure to ensure that you can afford your mortgage both now and in the future.

Underwriting:	We take a flexible approach to underwriting and will consider each case on its merits. We do not credit score. The actual rate and APRC for your case will depend on your circumstances and our assessment of the risk.