Lending criteria.

4.49x joint or single.

5.49x joint or single if 1 applicant earns over £75,000.

We will allow an enhanced multiplier of up to 5.49 x income where applicants can evidence a history of rental payments at a similar level to the new mortgage payment (12m evidence of rent being paid above or within 10% of new monthly mortgage payment)

Up to 75% LTV. Must have been satisfied 3 years.

Accepted.

Acceptable repayment vehicles – Endowments or ISA, Pension lump sum, Sale of security/downsizing*, Sale of background property, Other investments.

*If downsizing is the repayment vehicle, we will require a minimum of £250,000 equity on day 1 and maximum 70% LTV on interest only – we can top up to 80% with repayment (part and part).

Unacceptable repayment vehicles – annual lump sum repayments.

70% LTV if standard or going into retirement. Can be topped up with 10% on repayment to a maximum LTV of 80%.

No minimum income as standard.

75% of investment income.

Managed Investment Portfolios- Accepted

Where an Applicant has a Managed Investment Portfolio, income can be calculated by taking 75% of the evidenced fund value and dividing the amount by the term of the mortgage requested.

To utilise this approach the following criteria must be applied:

• The investment fund must be a professionally managed fund
• The minimum fund value £100,000 – evidenced via the plan statement
• The Investment plan must have been in place for a minimum of 12 months
• The minimum term that the fund can be divided by is 10 years. For terms of less than 10 years the 10 year calculation would apply.