We’re back in the market
To our valued partners,
Firstly, we would like to apologise for being absent for a little while – we’re sure you can agree with us when we say it has been a challenging time for everyone. Thank you for your patience and understanding over the last few months.
The good news is that we are now back in the market and are ready to welcome your applications. We are taking a controlled and phased approach to re-entering the market and are initially relaunching in the following areas:
- Residential lending up to 75% LTV
- Ex-Pat Residential and BTL
We remain committed to serving the underserved including providing mortgages for the Self-Employed. We are also passionate about our manual underwriting approach, where we assess all cases on individual merit.
The following changes have also been made to our lending criteria:
- Interest Only and Part and Part lending will be paused
- The maximum age limit will be capped at an applicant’s stated retirement age and we will not be lending to applicants in retirement
- Debt consolidation will not be permitted unless it can be evidenced that the debts accrued were for home improvements
- BTL for UK residents, Right to Buy and Shared Ownership lending has been paused
- Foreign income will now be assessed using the lowest exchange rate in the last 2 years at the time of assessment
There will be some additional underwriting requirements for all applicants due to Covid-19:
- Immediately prior to completion, a declaration will be required stating that the applicant’s financial position has not changed
- The applicant’s latest payslip will be required along with an employment reference
- An accountant’s reference will be required for self-employed applicants
For more details, please see our updated Intermediary Manual which outlines our additional Covid-19 underwriting measures and criteria changes (if you require the password for this, please contact our Business Development Team)
A list of our new products can be found below. For more details, please visit our products page.