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Homes for Ukraine: information for applicants and existing borrowers

Written by Joanne Leek

18 Mar 2022

Tags

Mortgages

3 min read

The government has recently launched a Homes for Ukraine campaign, calling for sponsors to provide homes or spare rooms rent-free to Ukrainian refugees, for a minimum stay of 6 months. Full details are available on the government Homes for Ukraine webpage.

We strongly believe everyone has a fundamental right to have a safe home, and we will do everything we can to aid our mortgage borrowers and our local communities in housing Ukrainian refugees.

We are pleased to confirm our position for mortgage borrowers and new applicants who wish to use a spare room for the Homes for Ukraine appeal, and are in a secure position so that they can offer a stable home.

Existing borrowers who are up to date with their payments do not need to inform us of anyone staying as a lodger in a residential property mortgaged with us, and there are no forms to be completed.

New applicants will not be subject to increased household costs in the affordability assessment, as the £350 monthly payment is assumed to offset any additional costs incurred. As with existing borrowers, anyone staying in the property under “lodger” status will not be required to sign any occupier forms or submit income and expenditure information.

Borrowers may need to inform their insurance provider and other relevant parties.

The information was last updated on Friday 18th March 2022.

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