Summary of new deals

From 8am on Friday 17 April, our Core range will be extended to include the following products available for properties valued between £80,000 – £500,000:

·         NEW 75% LTV 2, 3 and 5 year fixed rates for residential remortgage

·         NEW 65% LTV for residential purchase deals with free valuations starting from 1.62%

·         NEW BTL purchase deals up to 60% LTV with £300 cashback and free valuation starting from 1.45%

·         NEW BTL Remortgage LTV increased to 60% LTV

·         NEW 2 Year Freedom to Fix Trackers for existing customers

Some restrictions apply to the types of lending we are currently able to offer – for example we are currently unable to accept New Build applications. Please visit our website for further details.

We have also had to make some temporary changes to our current lending policy which means unfortunately we are currently unable to accept the following:

·         Any form of variable income (overtime, commission, bonus) will not be used in the affordability assessment. Affordability will be assessed on basic salary only.

·         Where an employed customer is designated as furloughed, or a self-employed customer has applied for the self-employed income support scheme, their income will not be used in the affordability assessment.

Self-employed customers will also need to provide their last 3 months business bank statements to evidence continued turnover.

 The changes to our affordability policy do not impact applications received before Friday 17^th April 2020, which will continue to be assessed on a case by case basis.

If you have any questions or need further information on these changes please contact your BDM.