- The property must have been registered in the applicant's name (or at least one of the applicants' names) for a minimum of 6 months unless the property has been inherited and the applicant is a beneficiary.
- Applications where the applicant is not a beneficiary of the inherited property, and the beneficiary has owned the property for less than 6 months, are not acceptable.
- The maximum LTV we will consider lending on Buy-to-Let remortgages is 75%.
Where the applicant is looking to raise additional capital, we are unable to lend for the following purposes:
- Injection into a business.
Where the property is mortgage free (unencumbered), these applications are also treated as remortgages.
Where an applicant wants to consolidate their secured and unsecured debts, the following policy will apply:
- The debt consolidation must be on a repayment basis only.
- Any debt consolidation should be set up on a single sub account and must be separate to other borrowing.
- Debt consolidation can be taken into retirement.
TSB will not lend to customers who fall into one of the following categories:
- Are in financial difficulty (i.e. cannot afford their current borrowing)
- Have less than 12 months’ repayments left on their current debts or intend to repay the debt in the next 12 months at the time of the mortgage application
- Consolidation of student loans, child maintenance payments, long service advance of pay (property deposits) or pay day loans.