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Mortgage Lending Criteria & Guidance (Effective 30th July 2018) 1 Contents Page High Level Summary of Lending Criteria 2 Application Submission 3 Borrower (also see Employment Status) - affordability (also see Income & Financial Commitments on pages 7-8) - Bankruptcy / Individual Voluntary Arrangements (IVA) - Convictions, County Court Judgements (CCJ) and Defaults - Credit Score / credit search - Number of applicants and residency 3-5 Buy to Let (including Remortgage of Let to Buy) - Portfolio landlords - Assessment of rental income - Houses in Multiple Occupation (HMO) 5-6 Early Repayment & Other Fees 6 Employment Status - Contractors - Directors of limited companies including Limited Partnerships / LLPs - Employees & second employment - Self Employed including Sole Traders / Partnerships / Short term contracts - Qualified Accountants list of acceptable professional accountancy organisations 6-8 Guarantors 8 Holiday Let 9-10 Income & Financial Commitments (Underwriting) - Primary &
away this information can be confirmed by the applicant, otherwise the information should be confirmed by the employer (though discretion may be exercised). In both instances a child will need to be taken into consideration towards affordability, and evidence of contingency funds to cover mortgage payments during maternity leave may be required.
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