| Mortgage Code: |
538 75EAF
|
| Scheme Name: |
4.60% TRACKER FOR 2 YEARS
|
| Product Detail: |
RENTAL COVERAGE 125% @ pay rate
LENDERS FEE 2.75% ADDED
|
| Initial Rate: |
4.60%
|
|
| Reverting Rate: |
4.74%
|
| APR Rate: |
5.20%
|
| Max LTV: |
75%
|
| Arrangement Fee: |
|
| Arrangement Fee Structure: |
|
| Arrangement Fee Percentage: |
2.75%
|
| Further Information: |
Max LTV on new build houses and flats is 65%
100% LTV available, call for details
|
| Minimum Loan Per Property: |
£25001
|
| Maximum Loan Per Property: |
£500000
|
| Withdrawal Notice: |
|
| Withdrawal Date: |
|
| Income Requirements: |
£25,000 - First time buyers must be full status on a 3.25 times provable income.
Must have been in current job for a minimum of 3 months and have 12 months continuous employment
Self employed status Must have been trading for at least 1 year
Self certification Yes - First time buyers must be full status on a 3.25 times provable income
Applicant can be first time buyer Yes
Applicant can be a foreign national No
Applicant can be an ex-pat Yes
Minimum time resident in the UK 12 months with 3 year remaining on visa
Limited company NOT acceptable
RENTAL COVERAGE REQUIRED IS 125% @ PAY RATE
|
| Age Limits: |
18 min, 75 at end of mortgage term - min age 21 for expats
|
| Applicant Status: |
EITHER EMPLOYED OR SELF-EMPLOYED NO PROOF REQUIRED UNLESS FIRST TIME BUYER
NO FOREIGN NATIONALS
NO LIMITED COMPANIES
|
| Interest Rate Structure: |
BBR
|
| Early Repayment: |
3% of outstanding loan for scheme period
|
| Repayment Structure: |
INTEREST ONLY OR CAPITAL REPAYMENT
|
| Loan Limits: |
MINIMUM LOAN £25001
MAXIMUM LOAN £500000
MAXIMUM AGREGATE BORROWING OF £3MILLION WITHIN HBoS GROUP OR 9 PROPERTIES PER APPLICANT
|
| Adverse Limits: |
NO ADVERSE CREDIT ALLOWED
ALL APPLICATIONS SUBJECT TO CREDIT SCORE
|
| Remortgages: |
RE-MORTGAGE ALLOWED FOR ANY LEGAL PURPOSE SUBJECT TO LTV LIMITS AND CRITERIA.
MUST HAVE OWNED PROPERTY FOR MINIMUM OF 6 MONTHS
|
| Acceptable Properties: |
EX-LOCAL AUTHORITY HOUSES
EX LOCAL AUTHORITY FLATS
NEW BUILD FLATS AND HOUSES SUBJECT TO NO MORE THAN 30% OF TOTAL DEVELOPMENT, PLEASE CALL WITH DETAILS OF DEVELOPMENT SO THAT WE CAN CHECK EXPOSURE LIMITS WITH LENDER'S VALUER
MAX LTV ON NEW BUILD IS 65% LTV
STUDIO APARTMENTS
MINIMUM VALUE £40,000 or £75,000 for London postcodes
MINIMUM REMAINING TERM ON LEASE IS 30 YEARS AT THE END OF THE MORTGAGE TERM
NO LIMIT ON NUMBER OF FLOORS IN BLOCK
|
| Unacceptable Properties: |
BEDSITS
FREEHOLD FLATS
WON'T LEND ON ISLE OF MAN
|
| Acceptable Tenancies: |
ASSURED SHORTHOLD TENANCY - MAXIMUM OF 5 TENANTS NAMED ON AGREEMENT
CORPORATE LETS SUBJECT TO MAXIMUM OF 12 MONTHS
NO STUDENT LETS, ASYLUM SEEKERS, HOUSING ASSOCIATIONS, DSS TENANTS ALLOWED - NO PROOF REQUIRED
|
| Information Requirements: |
APPLICATIONS SUBMITTED ONLINE WITH INSTANT DECISION UNLESS APPLICATION IS REFERRED, WHERE CLIENT'S DO HAVE ADVERSE CREDIT, THIS IS NOT ALWAYS PICKED UP BY LENDERS AND ALL APPLICATIONS ARE SUBJECT TO CREDIT SCORE
VALUATION FEES MUST BE PAID VIA CREDIT CARD / DEBIT CAD ONLY. THE LENDER WILL CHARGE A ONE OFF FEE OF £50 IF YOU DO NOT TAKE BUILDIMNG INSURANCE THROUGH THEIR NOMINATED INSURER, WE WILL REFUND THIS CHARGE IF YOU TAKE OUT BUILDING INSURANCE VIA WWW.BTL247.COM. EXPATS MUST BE EMPLOYED BY A MULTI-NATIONAL COMPANY OR GOVERMENT AGENCIES, PLEASE CALL US IF YOU ARE UNSURE.
|
| Time Scale AIP: |
WITHIN 24 HOURS UNLESS APPLICATION GOES ON REFER
|
| Time Scale To Offer: |
48 HOURS FROM RECEIPT OF ALL OUSTANDING INFORMATION
|
| Free Valuation: |
|
| Free Legal: |
|
| Free Completion: |
|