Mortgage-free property (unencumbered properties)

The maximum we will currently consider lending on mortgage free properties is 80% with the following exceptions:

Maximum of 75% for the following purposes:

  • Holidays
  • Purchase of stocks & shares
  • Currency speculation.

We do not lend for the following purposes (at any LTV):

  • Timeshares
  • Injection into a business.
  • Loans on mortgage-free properties are treated as remortgages. The applicant is only eligible for the Remortgage range of products and incentives. Free legal fees are available for these applications, a free valuation option is available.
  • 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.