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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. Our 95% (LTV) products offer deposits as low as 5% and is also available on new build homes (including flats).

We also 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.

Affordability calculator

Find out how much your client can borrow with our affordability calculators.


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

Product code: RDD165
Initial rate
5.74%
Discount from SVR
2.65%
Overall cost for comparison
7.9% APRC
Max LTV %
80%
Product fee
£999
Product name
Fee Saver 95% Residential variable for 2 years

Product code: RDD176
Initial rate
6.79%
Discount from SVR
1.60%
Overall cost for comparison
8.2% APRC
Max LTV %
95%
Product fee
£0
Product name
Fee Saver 80% Residential variable for 2 years

Product code: RDD166
Initial rate
5.99%
Discount from SVR
2.40%
Overall cost for comparison
7.9% APRC
Max LTV %
80%
Product fee
£0
Product name
95% Residential variable for 2 years

Product code: RDD167
Initial rate
6.44%
Discount from SVR
1.95%
Overall cost for comparison
8.2% APRC
Max LTV %
95%
Product fee
£999

Fixed rate mortgages

The mortgages listed below move on to our Standard Variable Rate (SVR), 8.39% (variable) after the initial rate period.

Product name
Residential fixed for 5 years

Product code: RDF171
Initial rate
4.99%
Overall cost for comparison
7.0% APRC
Max LTV %
80%
Product fee
£999
Product name
95% Residential fixed for 5 years

Product code: RDF172
Initial rate
5.49%
Overall cost for comparison
7.5% APRC
Max LTV %
95%
Product fee
£999
Product name
Residential fixed for 2 years

Product code: RDF170
Initial rate
5.49%
Overall cost for comparison
7.7% APRC
Max LTV %
80%
Product fee
£999
Product name
95% Residential fixed for 2 years

Product code: RDF179
Initial rate
5.99%
Overall cost for comparison
8.1% APRC
Max LTV %
95%
Product fee
£999
  • 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 DeductionsSole BorrowerJoint Borrowers
    £20,000-£50,0004.5x4.5x
    Over £50,0005.0x5.0x

    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.

    CriteriaResidentialCredit Repair 1Credit Repair 2
    LTV95%80%70%
    DefaultsNone in the last 6 yearsMaximum 3 defaults satisfied over 2 years*Maximum 3 defaults registered over 2 years*
    CCJ’s / Sheriff Court Decree (Scotland)None in the last 6 yearsMaximum 3 CCJs satisfied over 2 years**Maximum 3 CCJs registered over 2 years**
    Mortgage/Rent ArrearsNone in the last 3 yearsMaximum status 1 in the last 2 years, satisfied for at least 12 monthsMaximum status 2 in the last 2 years, satisfied for at least 6 months
    Unsecured Arrears (loans, credit cards, hire purchase etc.)None in the last 3 yearsMaximum status 1 in the last 2 yearsMaximum status 2 in the last 2 years
    Bankruptcy/IVA/Sequestration/Protected Trust Deed (Scotland)None in the last 6 yearsSatisfied over 3 yearsSatisfied over 2 years
    Pay day loansNone in the last yearNone in the last yearNone in the last year
    DRO/DPP (Scotland)/DMPNone in the last 6 yearsSatisfied over 2 yearsSatisfied over 1 year
    *Defaults cannot exceed £2,500 cumulatively
    **CCJs cannot exceed £500 cumulatively

     

    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.
  • Useful stuff

    Mortgage Insurance

    Mortgage Conditions

    Mortgage Conditions Scotland

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