As from Monday 22 July 2019, we are making some changes to our lending policy. A summary of some of the changes are shown below:
| Current criteria | New criteria as of 22 July 2019 | |
| Lending in Northern Ireland | Available on J1 only | Available on J1 and J2 |
| Maximum loan size | £800,000 England | £800,000 England, Wales & Mainland Scotland |
| £250,000 Scotland, Wales and Northern Ireland | £250,000 Northern Ireland | |
| Leasehold term | Subject to 120 years remaining | Subject to 120 yrs remaining and refer if between 100-119 yrs (subject to reduced LTV) |
| Age restricted properties | Not acceptable | Refer subject to conditions (see Acceptable Properties Guide) and subject to reduced LTV |
| Annexes | Not acceptable | Refer if occupied by relatives or carers |
| Flat roofs | Acceptable up to 25% flat roof, refer if between 26%-99% flat roof and not acceptable if 100% | Acceptable up to 30% flat roof and refer if over 30% flat roof |
| Acres | Up to three acres subject to no agricultural restrictions | Up to five acres subject to no agricultural restrictions |
For a full overview of our Acceptable Properties, please see our revised Acceptable Properties Guide which will be available from Monday 22 July.
When will these changes take effect?
These changes will be implemented from Monday 22 July 2019
What will happen to pipeline cases?
- All new quotes from Monday 22 July will need to adhere to the new policy
- For pipeline quotes, applications must be received by Monday 29 July to secure the previous lending criteria. All applications received after this date will need to adhere to the new policy
Just a click or call away
If you have any further questions on the information above or would like to discuss a specific case, please do contact your dedicated account manager on their usual number. Alternatively, our sales support team are ready to help: you can reach them on 0345 302 2287 or by email.
