Transcription of Residential Mortgages
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Criteria guideResidential Mortgages INFORMATION IS FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLYC orrect as of: Follow us 0800 116 4385 Monday- Friday, 9am-6pmKey Updates Maximum LTV increased, now available up to 85% Re-introduction of wider acceptable adverse including active and recently satisfied DMPs Relaunch of automated cascade2 SectionPage numberApplicant criteria 4 Applicant profile (inc. minimum age, maximum age, maximum number of applicants, guarantors and marital status)4 Allowable adverse4 Nationality and residency4 Income criteria 5 Minimum earned income5 Employed5 Self-employed5 Furlough payments, bounce back loans and CBILS6 Contractors6 Maternity leave6 Additional income6 Unacceptable income sources 6 Loan criteria7 Maximum LTV7 Loan term7 Porting7 Remortgage applications7 Service levels7 Offer validity 7 Let to buy8 Repayment methods9 Repayment vehicles9 Deposit criteria9 Source of funds9 Builder s deposit (new build)
5 Income criteria Minimum earned income £15,000 for the main applicant from primary employment. Employed A minimum of 3 months in current job, …
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