Large Loans
Lending Limits
The lending limits stated below are subject to the availability of a suitable available product at any given time.
| Loan Amount | Max LTV |
|---|
| Up to £250k | 95% |
| >£250k - £750k | 90% |
| >£750k - £1m | 85% |
| >£1m - £2m* | 80% |
| >£2m - £5m* | 70% |
| >£5m* | 50% |
*Subject to product availability
Large Loan Referrals
The table below defines TSB approach to large loans. Applications meeting the criteria documented below will be referred into our Underwriting team for a full manual review of the application and the customer details.
As you can see we assess a number of variables to determine what we refer for manual assessment. These include the region the property is located, if the customer has an existing relationship with the TSB Bank, the loan to value of the application and the individual or aggregate mortgage exposure with TSB.
| Property Location | Relationship with TSB | Loan to Value | Individual or Aggregate Loan exposure to TSB |
|---|
| London | Yes | N/A | ≥ £1 Million |
| None |
< 75% LTV | ≥ £1 Million |
| ≥ 75% LTV | ≥ £750,000 |
| South East | Yes | N/A | ≥ £1 Million |
| None |
< 75% LTV | ≥ £1 Million |
| ≥ 75% LTV | ≥ £750,000 |
| Rest of the UK | Yes | N/A | ≥ £1 Million |
| None |
< 75% LTV | ≥ £750,000 |
| ≥ 75% LTV | ≥ £500,000 |
Underwriting approach
Applications meeting the above criteria will receive a full review on all aspects of the mortgage applications. This will include, but is not restricted to, an assessment of the customer’s:
- Credit worthiness – an assessment of customer personal details and all commitments.
- Affordability – a detailed review of income and expenditure together with the customer’s underlying asset base. A standard Expenditure and Assets form will need to be completed as part of the application together with submission of bank statements on the customer’s main current account. This review may also require the underwriter to request additional information to support our documented income verification requirements.
- Property – we may review the property type and composition as part of our full underwrite. This will include a discussion directly with the valuer if there is information required to fully underwrite the application.
Documents which must be submitted to support the application
Documents which may be needed to support the application
- Additional Bank statements
- Payslips / P60 / compensation statements to confirm track record of bonus received (typically 3 years)
- Evidence of declared Assets
- Proof of deposit (awareness of potential double counting of bonus for affordability / funds for deposit)
- If capital raising, evidence required (i.e. estimates for home improvements / sight of any documents to evidence what funds are required such as divorce settlement / separation order)
- If sole application, background details on spouse / partner and if they are financially dependent or not