LENDING. PIECE OF CAKE.
What's New
New residential products
Tier 0 products launched
- Supporting customers with lighter adverse credit
- 2 and 5-year fixed rates from 5.19%
- Options with refunded valuation (max £630) and £300 cashback
- Core residential and DMP products available
What's New
New buy to let products
Reduced 80% LTV products
- 2 and 5-year fixed rates now from 5.79%
Relaunched Tier 2 and Tier 3 products
- Supporting landlords with adverse credit profiles
- 2 and 5-year fixed rates from 5.39%
Our Products
Residential
- Rates from 5.19%
- Up to 85% LTV
- Adverse credit profiles accepted
- Loans from £25,001 to £1,000,000.
Help to Buy
- Rates from 6.99%
- Up to 75% LTV
- Historic adverse accepted
- Loans from £25,001
- Help to Buy purchase (Wales) and Help to Buy remortgage accepted.
Right to Buy
- Rates from 6.99%
- Up to 100% discounted purchase price
- Historic adverse accepted
- Loans from £25,001 to £1,000,000
Product Information
Residential
Highlights and Features
- Rates from 5.19%
- Up to 85% LTV
- Adverse credit profiles accepted
- CCJs, defaults, mortgage and secured loan arrears, active and satisfied DMPs and unsecured arrears accepted
- Loans from £25,001 to £1,000,000.
- Home movers
- Remortgages
- New build purchases
- First-time buyers
- Customers looking for an alternative to high street lenders
- Customers with adverse credit history
- Self-employed customers with only 1 year’s accounts
Product Information
Help to Buy
Highlights and Features
- Rates from 6.99%
- Up to 75% LTV
- Historic adverse accepted
- Historic CCJs, defaults, DMPS and mortgage and secured loan arrears accepted
- Loans from £25,001
- Help to Buy purchase (Wales) and Help to Buy remortgage accepted.
- Customers buying new build properties
- Existing Help to Buy customers looking to remortgage
- We accept new purchase applications on the Help to Buy Wales scheme
- We accept remortgage applications on the Help to Buy England, Help to Buy Wales and Help to Buy Scotland schemes
Product Information
Right to Buy
Highlights and Features
- Rates from 6.99%
- Up to 100% discounted purchase price
- Historic adverse accepted
- Historic CCJs, defaults, DMPS and mortgage and secured loan arrears accepted
- Loans from £25,001 to £1,000,000
- Customers buying their social housing property
- Purchase only
- Houses only
- England only
Personal Ownership Landlords
- Rates from 5.39%
- Up to 80% LTV
- Single dwelling, HMOs and MUFBs
- Top slicing available
- Loans from £40,000 to £3,000,000
Limited Company Landlords
- Rates from 5.39%
- Up to 80% LTV
- Single dwelling, HMOs and MUFBs
- Top slicing available
- Loans from £40,000 to £3,000,000
Product Information
Personal Ownership Landlords
Highlights and Features
- Rates from 5.39%
- Up to 80% LTV
- Single dwelling, HMOs and MUFBs
- Top slicing available
- Loans from £40,000 to £3,000,000
- First-time landlords
- Experienced landlords
- Consumer buy to let
- Landlords looking to purchase a new property
- Landlords looking to remortgage an existing property
Product Information
Limited Company Landlords
Highlights and Features
- Rates from 5.39%
- Up to 80% LTV
- Single dwelling, HMOs and MUFBs
- Top slicing available
- Loans from £40,000 to £3,000,000
- First-time landlords
- Experienced landlords
- Landlords looking to purchase a new property
- Landlords looking to remortgage an existing property
Standard Refurbishment
- Bridging refurbishment from 0.74%
- Exit rates from 6.49%
- Up to 80% LTV on exit
- Single dwellings, HMOs and MUFBs
- Personal ownership and limited company
Energy Efficiency Refurbishment
- Bridging refurbishment from 0.74%
- Exit rates from 6.29%
- Up to 80% LTV on exit
- Single dwellings, HMOs and MUFBs
- Personal ownership and limited company
EPC C+ Refurbishment
- Bridging refurbishment from 0.74%
- Exit rates from 6.09%
- Up to 80% LTV on exit
- Single dwellings, HMOs and MUFBs
- Personal ownership and limited company
Product Information
Standard Refurbishment
Highlights and Features
- Bridging refurbishment from 0.74%
- Exit rates from 6.49%
- Up to 80% LTV on exit
- Single dwellings, HMOs and MUFBs
- Personal ownership and limited company
- Landlords looking to change the use of a garage or loft space to a habitable room.
- Properties purchased at auction that require light refurbishment to be acceptable for mortgage purposes.
- Landlords looking to change the use of a residential property to, or from, a small HMO with up to six lettable rooms.
- Standard refurbishment to make a property habitable.
Product Information
Energy Efficiency Refurbishment
Highlights and Features
- Bridging refurbishment from 0.74%
- Exit rates from 6.29%
- Up to 80% LTV on exit
- Single dwellings, HMOs and MUFBs
- Personal ownership and limited company
- Landlords looking to improve the energy efficiency of their property by completing works such as fitting double glazing, upgrading a boiler or adding loft insulation
- Landlords looking to complete works to meet minimum EPC rating requirements
- Refurbishment which includes some element of energy efficiency
Product Information
EPC C+ Refurbishment
Highlights and Features
- Bridging refurbishment from 0.74%
- Exit rates from 6.09%
- Up to 80% LTV on exit
- Single dwellings, HMOs and MUFBs
- Personal ownership and limited company
- Landlords looking to refurbish a property to maximise the rental yield.
- Refurbishment of a property that already has an EPC rating of C or above, or is awarded a C rating as a result of the improvement work
Standard Bridging
- Rates from 0.69%
- Up to 75% LTV
- AVMs available up to 60% LTV, and with no fee
- Regulated and non-regulated
- No maximum loan amount
Tier 1 Light Refurbishment
- Rates from 0.69%
- Up to 75% LTV
- Regulated and non-regulated
- No maximum loan amount
Tier 2 Heavy Refurbishment
- Rates from 0.79%
- Up to 70% LTV
- Regulated and non-regulated
- No maximum loan amount
Product Information
Standard Bridging
Highlights and Features
- Rates from 0.69%
- Up to 75% LTV
- AVMs available up to 60% LTV, and with no fee
- Regulated and non-regulated
- No maximum loan amount
- Landlords who want to make a quick purchase
- Chain-break finance
- Cash flow funding for short term requirements
- Buying property at auction
- Meeting tight transaction deadlines
- Where short-term finance is required and is secured on a property in a habitable condition and does not require any improvement works
- Regulated Bridging Finance can be used for almost any purpose, except where your customer is looking to raise finance by way of a second charge and the loan is for business use. For this situation our range of Non-Regulated Bridging Finance could help
Product Information
Tier 1 Light Refurbishment
Highlights and Features
- Rates from 0.69%
- Up to 75% LTV
- Regulated and non-regulated
- No maximum loan amount
- Properties deemed uninhabitable by long-term lenders
- Works to replace or update building components and non-structural alterations including redecorations, replacement of kitchen, replacement or creation of additional bathrooms, replacement of flooring, windows, roof cladding, electrical, heating and plumbing systems and non-structural alterations to accommodation layout, or other equivalent work as agreed by us
- Single unit properties currently at ‘wind and water tight’ stage that require completion
- Building regulations are required
- There’s no change to the overall use or nature of the premises
- Works are being completed under Permitted Development Rights (no change to property footprint)
- Regulated Bridging Finance can be used for almost any purpose, except where your customer is looking to raise finance by way of a second charge and the loan is for business use. For this situation our range of Non-Regulated Bridging Finance could help
Product Information
Tier 2 Heavy Refurbishment
Highlights and Features
- Rates from 0.79%
- Up to 70% LTV
- Regulated and non-regulated
- No maximum loan amount
- Extensions
- Loft conversions
- Single unit to multi-unit
- Multi-unit to single unit
- Multi-unit properties currently at 'wind and water tight' stage that require completion
- Barn conversions
- Conversion of a commercial unit into a maximum of 4 flats
- Landlords looking to change the use of a residential property to a HMO with up to 10 lettable rooms
- Landlords looking to change the use of a residential property to a maximum of 6 flats. An acceptable new home warranty will be required
- Planning permission is required
- Works are being completed under Permitted Development Rights (change to property footprint)
- There is a change in overall use or nature of the premises
- Regulated Bridging Finance can be used for almost any purpose, except where your customer is looking to raise finance by way of a second charge and the loan is for business use. For this situation our range of Non-Regulated Bridging Finance could help
Product Transfers
- Buy to let rates from 4.79%
- Residential rates from 5.99%
Product Information
Product Transfers
Highlights and Features
- Buy to let rates from 4.79%
- Residential rates from 5.99%
- Existing customers whose product is due to end
- Whilst most customers whose account is outside of any early repayment charge period will be able to complete a product transfer, not all customers will have product transfer options available to them. We’ll run some initial checks on your customer’s account and let you know if a product transfer is available for them, such as making sure their account is up to date
- We can accept product transfer applications from 3 months before the existing product ends
Our Processing Times
Happy & Healthy
Happy & Healthy
Happy & Healthy
Happy & Healthy
Happy & Healthy
- AIP = Auto decision
- New applications = 2 working days
- Additional document = 2 working days
Our Processing Times
Residential
AIP
Agreement in principle: 24 hours
Application
Pre offer - Initial underwriting: 2 working days
Document assessment: 2 working days
Valuation
Percentage of valuations completed within 10 working days: 77%
Offer
Time from application to offer: 20 working days
All times shown are based on average working days
Last updated 15 April 2024.
- AIP = Auto decision
- New applications = 2 working days
- Additional document = 2 working days
Our Processing Times
Buy to Let
AIP
Agreement in principle: Auto decision
Application
Pre offer - Initial underwriting: 2 working days
Document assessment: 2 working days
Valuation
Percentage of valuations completed within 10 working days (Buy to let): 67%
Percentage of valuations completed within 10 working days (HMO, MUB): 54%
Offer
Time from application to offer: 20 working days
All times shown are based on average working days
Last updated 15 April 2024.
- AIP = 24 hours
- New applications = 1 working day
- Additional document = 1 working day
Our Processing Times
Refurbishment Buy to Let
AIP
Agreement in principle: 24 hours
Application
Pre offer - Initial underwriting: 1 working days
Document assessment: 1 working days
Valuation
Percentage of valuations completed within 10 working days (Light refurbishment): 81%
Offer
Post offer (completions): 2.5 working days
Time from application to offer: 20 working days
All times shown are based on average working days
Last updated 15 April 2024.
- AIP = 4 hours
- New applications = 1 working day
- Additional document = 1 working day
Our Processing Times
Bridging
AIP
Agreement in principle: 4 hours
Application
Pre offer - Initial underwriting: 1 working day
Document assessment: 1 working day
Valuation
Percentage of valuations completed within 10 working days (Standard bridging): 81%
Percentage of valuations completed within 10 working days (Light refurbishment): 81%
Percentage of valuations completed within 10 working days (Heavy refurbishment): 81%
Offer
Post offer (completions): 2.5 working days
Time from application to offer: 16 working days
All times shown are based on average working days
Last updated 12 April 2024.
- AIP = NA
- New applications = NA
- Additional document = NA
Our Processing Times
Product Transfers
5 days from receipt of authority to produce the KFI.
5 days from request for offer to produce offer.
5 days to process offer acceptance.
Signed acceptance of offer required at least 1 clear calendar month before current mortgage product ends.
Last updated 15 April 2024.