Minimum Age
- Residential loans – 18
- BTL – 21
- RIO – 55
Shared Ownership
London 75% LTV restriction now removed – We are now able to lend up to 95% of the share nationally and as a reminder this does apply to new build shared ownership properties.
Payment Holidays
A 12-month capital repayment holiday may be available with this mortgage subject to the following terms. During this period, your client will still have to make monthly repayments in respect of the interest due.
Your client can apply for a maximum of 12 months capital repayment holiday once during the life of the mortgage.
In order to be considered for this feature, your client must have made your first 6 months repayments and all previous repayments must have been made on time and in full. Capital repayment holidays will be considered for the following life events;
- Parental leave
- Redundancy/unemployment
- Long term sickness
- Death of a joint borrower
It is important that your client understands that after taking a capital repayment holiday, their monthly repayments will increase. The amount of capital that was not repaid during the period will be spread across your remaining mortgage term and their repayments will increase accordingly.
