Following feedback from brokers, I am pleased to advise that with immediate effect we have made the following amendment to our existing lending policy.

Concessionary Purchase (Family Sale at discounted price)

Max LTV increased from 75% to 85%

Terms

• Where the applicant is purchasing from an immediate family member¹ at a discounted price. The discount on the purchase price must be a minimum of 15% of the market value and must be a genuine discount (not subject to any future repayment/clawback). Vendor must move out on completion and the property being purchased must be solely for the applicant(s) to live in as their main residence.

¹ Family member definition – Parent/child, sibling, Grandparent/grandchild, Aunt/Uncle