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Lending criteria – residential

Service Level Agreements

• AIP Turnaround time: 4 working days from receipt of completed application form which has passed an initial Quality Assurance Check
• Full Mortgage Application to Formal Mortgage Offer turnaround time: 14 days from date of FMA (Full Mortgage Application)

Rates are Only Secured when your application reaches Full Mortgage Application (FMA) Stage – we will confirm in writing when a rate has been secured and all lending is subject to a satisfactory valuation of the proposed property.

Use our A to Z tool below for details of our residential lending criteria – click on the “A – C” or “D – K” etc to view the criteria headings.

Use our A to Z tool below for details of our residential lending criteria


All persons over the age of 17 who are not party to the mortgage will need to sign an Occupier Waiver after they have received independent legal advice from a Solicitor, Licensed Conveyancer or Notary Public.

Mortgage offers last for 6 months from date of issue with one 4 week extension possible if agreed on a case by case basis. We will support where possible any customers who’s application has gone to formal offer and will work with all stakeholders to ensure that the customer does not lose their property.

The Bank does not offer Offset products.

Please refer to the Bank.

Where an Overage clause is in place please refer to the Bank for consideration with valuers comments regarding saleability and also mortgage security.

Overdraft usage is acceptable so long as account conduct is satisfactory.

Is available on all products but please refer to the bank for any limitations.

We do not consider applicants who are paid in cash.

The Bank will consider the following if looking to do part and part:

  • House Purchase – 95% = 75% max on I/O element remainder on repayment
  • Remortgage – 85% = 75% max on I/O element remainder on repayment – subject to product avaliability on the re-mortgage limit
  • Unencumbered (mortgage free) – 85% = 75% on I/O element remainder on repayment – subject to product avaliability on the re-mortgage limit
  • Further Advance – total LTV 75% = 75% on total debt on I/O and remainder on repayment.

Please note that the Interest Only elements to the borrowing must fit in with the Bank’s I/O repayment vehicles requirement.

Max LTV’s are subject to product availability

Please refer to the Bank.

The Bank does not consider customers with a history of payday loans.

These are allowed on a case by case basis so please refer to the Bank.

The Bank does not accept handwritten payslips, we would ask for an employers reference and also review bank statements to check salary credits match the expected income levels.

The Bank does not consider pension contributions for affordability purposes.

The Bank would be prepared to lend on this property type, subject to LTV limits being met and also no issues regarding saleability and mortgage security from the valuers comments on the mortgage valuation.

Please refer to the Bank.

We consider 75% of any payments received in the last 3 months annualised.

Verification of this income needs to be in the form of 3 months bank statements showing payments.

The Bank only looks at either full time employed / part time employed clients / self employed clients.

The Bank considers a portfolio landlord as one who owns 3 or more properties in addition to their main residence.

Any rental shortfall will be treated as a commitment for affordability assessment purposes.

Need to be Self funding to be discounted from affordability assessment as follows:

For background BTL properties to be considered as self-funding. the rental income needs to exceed 125% of the monthly mortgage payment of an interest only mortgage with an assumed rate of 5%.

All Bank mortgage products are PORTABLE – Subject to timescales if this is not a simultanious sale and purchase – please refer to Bank for further information.

Lending is available in England & Wales only.

Please refer to the Bank.

Please refer to Bank and we would ask the Broker to provide the full address prior to submission.

Please refer to the Bank where there is a Private Sale/Purchase with no Estate Agents involved.

Applicants must have been in their current employment for a minimum of 3 months regradless of any probation period in force.

Bank are happy to have the product fee added to the loan amount provided the maximum LTV for the product is not exceeded.

The Bank will consider this where the IFA clearly sets out the mortgage split into separate elements. For example:

Total loan amount is £300,000
IFA requests, following the client fact find and recommendation;

  • part A – £200,000 to be on a 5 year fixed rate
  • part B – £100,000 to be on a 2 year fixed rate

We would assume the client has a life event in the background which would clear the £100,000 in full and would not wish for that element of the borrowing to have potentail ERC charges after the 2 year fixed rate element has finished.

The customer would have 2 seperate mortgage account numbers for the purposes of administration, however these would be covered under 1 legal charge and seen as 1 mortgage.

The Bank does not consider any Mortgages for Professional Sportspeople.

Proof of deposit is required in all purchase requests.

Please refer to the Bank if the applicant does not have the required ID documents.

Applicants whose main income source is Property Development are treated as Self Employed so the average of the last 2 years income as declared on SA302 will be used for affordability purposes

An application to consider a property next to one already owned by the applicant is not acceptable if the property next door is a BTL owned by the applicant.

Minimum valuation is £60,000 but there is no maximum valuation.

Please refer to the bank.

Purchases Below Market Value are not acceptable.

Applications are currently not being considered.

The Salvation Army

We are proud to be the bank of The Salvation Army International. Find out more about our shared history.

We are proud to be the bank of The Salvation Army International. Find out more about our shared history.

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23 - 24 Lovat Lane,

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