Inherited Properties

We will accept inherited properties where the applicant is a beneficiary under the Will of the deceased and has not owned the property for 6 months, including joint applications where only one applicant is a beneficiary. The conveyancer will be responsible for ensuring the application meets the acceptable criteria.

Where a proportion of the property has been inherited, we can look to offer the customer a residential mortgage for the remaining share's purchase price provided this amount does not exceed the maximum loan based on valuation or 90% of valuation - whichever is the lowest.

In TSB Mortgage Pro select ‘concessionary purchase’.

Residential Applications

• Where a Residential property has been inherited and the deeds are in probate in the deceased name – this is acceptable.
  
  In TSB Mortgage Pro select ‘concessionary purchase’.
  
  
• Where a Residential property has been inherited and the deeds are in the beneficiary’s name (under 6m old) – this is acceptable.
  
  In TSB Mortgage Pro select ‘remortgage, keying the amount transferred from other lender as £0.’

Buy-to-Let Applications

• Where a Buy-to-Let property has been inherited and the deeds are in probate in the deceased name – this is not acceptable.
  
  We are unable to process a concessionary purchase on Buy-to-Let.
  
  
• Where a Buy-to-Let property has been inherited and the deeds are in the beneficiary’s name (under 6m old) – this is acceptable.
  
  In TSB Mortgage Pro select ‘remortgage, keying the amount transferred from other lender as £0.’