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FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

LTV & Lending limits

Loan to Value

The table below provides the Loan to Value (LTV) Limits for mortgage applications on Mortgage Pro.

90-95% LTV only available for houses and bungalows (see below for separate LTV limits on new builds)

Loan Type

Credit Score - A

Credit Score - B

Credit Score - C

House Purchase - Loan amount up to £500,000

95%

85%

65%

House Purchase - Loan amount greater than £500,000- £750,000

85%

85%

65%

Remortgages without Additional Borrowing

90%

85%

65%

Remortgages with additional borrowing/capital raising

85%

80%

65%

Unencumbered (Mortgage Free)

85%

85%

65%

Transfer of Equity with Additional Borrowing

85%

85%

65%

​Flats and maisonettes (Not including New Builds) – Where the LTV is >85% the maximum loan amount is £500,000

​90%

​85%

​65%

Interest Only

75%

75%

65%

Buy to Let (including Business Buy to Let and Consumer Buy to Let) - LTV restrictions apply to all application types on a Buy to Let with the exception of New Builds where the lower LTV will be used.

75%

75%

75%

Second Homes/Holiday Homes

75%

75%

65%

Shared Ownership - LTV restriction is based on the value of the share of the property the applicant is buying/will own (not the full market value of the whole property).

90%

85%

65%

Shared Equity - LTV restriction is based on the full market value of the property.  The customer must provide a minimum personal deposit of 5% of the full purchase price.

85%

85%

65%

New Builds (houses and bungalows)

85%

85%

65%

New Builds (self builds, flats and maisonettes)

80%

80%

65%

New Build - Buy to Lets/Second Homes/Holiday Homes

65%

65%

65%

Additional Borrowing

85%

85%

65%

​Self Employed and Day Rate Contractors

​90%

​85%

​65%

Non UK and Irish Nationals

95%

85%

65%

 

  • For affordability, when determining the minimum and maximum loan amount, the product fee will be added to the loan for every application.
  • Fees cannot be added to the mortgage, if this will result in the LTV exceeding 95%.
  • A Mortgage Review with no additional borrowing is available up to 120% LTV.
  • Loan to Value (LTV) limits do not apply where a TOMP is undertaken in isolation of any additional lending.
  • For product LTVs please see the latest Product Guide.
  • Where two or more parameters apply then the lower Loan to Value ratio (LTV) must be used. An exception to this is Buy to Let/New Build Buy to Let applications where only one parameter applies. See examples below.

Example 1

Applicant has a credit score which would allow them an LTV of 90% on a main loan. The applicant is however applying for Additional Borrowing, therefore the maximum LTV they can have is 85%

Example 2

Applicant has a credit score which would allow them an LTV of 85% on a main loan. However they are applying for a Buy To Let on a newly built property, therefore the maximum LTV is 65%.

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

<£500k

95%

>£500k to £750k

90%

>£750k to £1m

85%

>£1m to £2m

80%

>£2m to £5m

70%

>£5m

50%

 

Lending Limits

The lending limits stated below are subject to the availability of a suitable available product at any given time.

Loan Type Max LTV
Houses and bungalows purchase 95%
Flats and Maisonettes Purchase 90%
Remortgages without Additional Borrowing
(Clients must have owned property for at least 6 months)
90%
Unencumbered (Mortgage Free) 85%
Transfer of Equity with Additional Borrowing 85%
Transfer of Mortgaged Property (TOMP) N/A
Interest Only 75%
Buy to Let 75%
Second Homes/Holiday Homes 75%
New Build - Buy to Lets/Second Homes/Holiday Homes 65%
Shared Ownership - LTV restriction is based on the value of the share of the property the applicant is buying/will own (not the full market value of the whole property). 90%
Shared Equity - LTV restriction is based on the full market value of the property.  The customer must provide a minimum personal deposit of 5% of the full purchase price 90%
Remortgages with additional borrowing/capital raising
(Clients must have owned property for at least 6 months. Maximum LTV subject to credit score)
85%
New Builds - Houses and Bungalows 85%
New Builds - Flats and Maisonettes (purpose built and converted) 80%
Non UK and Irish Nationals (with permanent rights to reside in the UK) 95%