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FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

Changes to our criteria

Increase to maximum LTV for self-employed and day rate contractors

10 December 2021

We’ve increased our maximum LTV for self-employed and day rate contractors.

From 10 December, the maximum LTV for these applications will be aligned to our maximum LTV for employed customers, with a maximum 95% mortgage being available (see table below for changes).

The maximum LTV offered is subject to credit score and actual LTV offered may vary.

Loan Type Credit Score - A Credit Score - B Credit Score - C
Self Employed and Day Rate Contractors 95% 85% 65%

Increase to 80% LTV on Buy to Let lending

From Friday 10 December, we’ve increased the maximum LTV on BTL mortgages from 75% to 80%, subject to credit score.

The increased LTV at 80% will be available on both interest only and repayment mortgages on loans of up to £500,000 and will be available on all property types except new build flats.

The 75% interest only limit on other application types will remain in place.
 
This move allows more options for brokers in placing higher LTV business and enable customers to purchase a Buy To Let property with a smaller deposit or enable them to put the deposit towards a higher valued property.

There will be new products made available for BTL mortgages between 75%-80% LTV from 13 December 2021.

Previous changes to our criteria