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Mortgage Code:

Shepshed Fixed

Scheme Name:

5.99% VARIABLE

Product Detail:

RENTAL COVERAGE 120% @ PAY RATE LENDERS FEE £999 NO PENALTIES

Initial Rate:

5.99%

Maximum Loan

Monthly Rent:
Rental Coverage:	120 %
Maximum Loan:
	Calculate >

Reverting Rate:

5.99%

APR Rate:

6.30%

Max LTV:

80%

Arrangement Fee:

£999.00

Arrangement Fee Structure:

FLAT

Arrangement Fee Percentage:

Further Information:

A fee of £999 is payable on application. £849 of this fee is refundable if you do not proceed with the application. Property must be located in following postcodes: LE, DE & NG

Minimum Loan Per Property:

£1000

Maximum Loan Per Property:

£250000

Withdrawal Notice:

Withdrawal Date:

Income Requirements:

FULL STATUS ONLY
DO NOT LEND TO PROFESSIONAL PROPERTY LANDLORDS
ANY INCOME DERIVED FROM PROPERTY RENTALS WILL NOT BE TAKEN INTO ACCOUNT
USES INCOME MULTIPLERS OF 3.5 SINGLE OR 2.75 JOINT
CURRENT EMPLOYMENT 3 MONTHS
MINIMUM 3 YEARS CONTINOUS EMPLOYMENT

Age Limits:

18 min, NO maximum

Applicant Status:

FIRST TIME BUYERS ALLOWED
MINIMUM TERM REMAINING ON LEASEHOLD PROPERTIS IS 75 YEARS
WON’T LEND IN LONDON, SCOTLAND OR NORTHERN IRELAND
WILL LEND ON NEW BUILD MAX LTV IS 70%
Applicants in probationary period not accepted
Guarantors accepted up to max 80% LTV provided they are able to guarantee the whole of the loan
Max 4 applicants
Non-UK citizens must have permanent Right to Reside in UK

Interest Rate Structure:

BBR

Early Repayment:

NONE

Repayment Structure:

INTEREST ONLY OR CAPITAL REPAYMENT

Loan Limits:

MINIMUM LOAN £1000
MAXIMUM LOAN £250000 @ 80%LTV

Adverse Limits:

NO ADVERSE ALLOWED
ALL APPLICATIONS SUBJECT TO CREDIT SCORE
CCJs, arrears, defaults: refer to lender

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:

Maisonette:
Thatched Roof:
Timber Framed:
No Garden:
Shared Ownership:
Sitting Tennant:
Flying Freehold:
Purpose Built Flat:
Flat Over Shop:

Unacceptable Properties:

Freehold Flat:
Studio Flat:
Converted Flat:
Agricultural Tie:
Prefabricated:
Shared Equity:
Expatriate:
Holiday Home:
Second Home:
Council Flat:
Flats over Four Storeys:
Underpinning:
More than 1 Kitchen:
Steel Framed:
Holiday Lets:
Local Authority house:
Mundic Construction:
Duplex Foamed Slag Construction:
High Alumina Cement Construction:
Mobile Homes:
Houseboats:
LONDON
SCOTLAND
NORTHERN IRELAND

Acceptable Tenancies:

ASSURED SHORTHOLD TENANCY - MAXIMUM OF 5 TENANTS NAMED ON AGREEMENT
Multiple occupancy, student lets and limited companies may be accepted subject to criteria restrictions: refer to lender

Information Requirements:

APPLICATIONS SUBMITTED ONLINE WITH INSTANT DECISION UNLESS APPLICATION IS REFERRED, WHERE CLIENT'S DO HAVE ADVERSE CREDIT, THIS IS NOT ALAYS 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 £25 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.

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: