Large Loan

Where the loan amount is between £750,000 and £2,000,000 you can speak to our Senior Underwriters, they can talk through your case prior to submitting a DIP, will give you an indication of whether the case is suitable and what documents you’ll need to support the application.

To speak with our team of experts, call on their direct number, 0330 123 3959 (between the hours 09:30 to 16:30, Mon – Fri), alternatively contact your Business Development Manager for initial guidance.

For loans <£750,000 talk to your Business Development Manager.

Underwriting Overview 

• We assess certain variables to determine which cases we refer for manual assessment by our large loans underwriting team. These include the individual or aggregate mortgage exposure with TSB, application type and information returned from the credit search.

Manual underwriting criteria

Applications meeting the following criteria will be referred to our Underwriting team for a full manual review.

• Individual or aggregate loan exposure to TSB > £1 million.
• Individual or aggregate loan exposure to TSB > £750,000, where the customer is borrowing more than 80% of the maximum loan available.
• Individual or aggregate loan exposure to TSB > £500,000, where the customer is borrowing more than 80% of the maximum loan available – subject to credit score and excluding like for like remortgage applications.
• All remortgages with additional borrowing applications (including unencumbered and transfer of equity applications) where amount of equity being released is > £300,000 and exceeds 50% of the equity available.
• View TSB Interest Only criteria
• Buy to Let, Shared Ownership & Shared Equity are excluded

Applications outside these criteria will follow our standard process.

Underwriting approach

Applications meeting the above criteria will receive a full review on all aspects of the mortgage application. This will include, but is not restricted to, an assessment of the customer’s:

• Credit worthiness – an assessment of applicant’s personal details and all commitments.
• Affordability – a detailed review of income and expenditure together with the applicant’s underlying asset base. A standard Expenditure and Assets form may be asked to be completed as part of the application together with submission of bank statements on the applicant’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 includes a discussion directly with the valuer if there is information required to fully underwrite the application. If you would like to discuss a property type or location call our experts on 0330 123 3959.
  
  

Submitting an application

If your customer meets our large loan criteria, simply follow this process: