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FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

Right to buy

  • Loans may be accepted up to 100% of the discounted purchase price, if they do not exceed 90% of the market value.
  • The Right to Buy Notice must be in the same name(s) as the mortgage to be able to proceed with an application.
  • The valuer must confirm that there is a ready and sustainable demand for the property to be mortgaged, the valuer will check how many are privately owned within the immediate vicinity to support this.
  • Where Home Improvements are required on a Remortgage application we require sight of estimates or invoices from the company carrying out the work. The figure on the estimate or invoice must be the same or greater than the additional borrowing being requested.
  • Additional borrowing is not permitted on House Purchase applications and the loan amount must be restricted to no greater than the discounted purchase price.
  • The mortgage must be on a repayment basis.