We’ve got some exciting news: we’re increasing our maximum LTV for Near Prime products to 90% from 85%.
This increase will allow us to help even more to move, especially Near Prime customers who are first-time buyers and those with smaller deposits.
Our increased maximum LTV will be available with 2, 3 and 5 year terms, as well as fee and fee-free options.
Rates start at 6.84% for 2 year fixed rates and 6.69% for both 3 and 5 year fixed rates.
What else does our Near Prime range offer?
No credit scoring: We check affordability and adverse limits, but we don’t use credit scoring for Near Prime applications
- Near Prime, same priority: We use the same process and team as our Prime mortgages, including AVM. Expect the same fast and efficient service (our current application to offer time for Near Prime cases is 7 days) and you could even receive an offer the same day.
- Up to 6x annual salary: As with Prime applications, in some cases we’ll accept up to 6x annual salary with our Near Prime mortgages.
- Gifted deposits: Like Prime applications, we’ll accept gifted deposits and gifted equity from non-family members, including landlords and housebuilders. In most cases, a gifted deposit can make up the whole deposit (sometimes we may require an additional deposit from the customer).
Find out who we can lend to in full detail in our Near Prime Lending Policy.
How to place an application
Place an application by logging onto the Portal, selecting a Near Prime product code and completing the application in the same way as any of our other mortgages.
If you’re struggling to find our products on sourcing systems, please get in touch with us to discuss your customer’s case. You can also find Near Prime product codes by downloading our PDF rate table.
Any questions?
If you’d like more information, contact our TBDM team or speak to your RBDM.