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Underwriting Criteria Valuation Scale Tariff of Charges

Underwriting Criteria

Age restrictions for applicants:

◊ The minimum age we will lend to is 21 years (BTL minimum age is 25 years).
◊ The maximum age at the end of the mortgage term is 70 years.

Applicants we won’t lend to:

◊ We do not credit score applicants, each case is assessed individually.
In general however, we don’t accept:
◊ Applicants who have been with their current employer for less than 6 months,
◊ Applicants who don’t have 6 months continuous employment in the same profession.

Where we lend:

◊ We lend across England, Scotland, Wales, and Northern Ireland.

Repayment methods:

◊ Mortgages can be repaid on a capital and interest basis, interest only and part capital repayment and part interest only basis.

Acceptable repayment vehicles include:

◊ Full endowment policy
◊ Full pension
◊ Individual savings account (ISA)
◊ Future Property Sale

Higher Lending Charge:

Acceptable income:

We accept the following forms of income:
◊ 100% of salary as evidenced by 3 months payslips or employer references. Minimum income of £17,500 or £25,000 for BTL.
◊ 100% of all overtime measured over 3 months, as evidenced by payslips.
◊ 100% of all bonuses, commissions and allowances, as evidenced by payslips or employer references,
◊ 100% of car allowance as evidenced in payslips,
◊ 100% of long term disability allowance,
◊ 100% of pension payments on provision that they will be received for a minimum of 3 years,
◊ 100% of alimony (to be confirmed by legal documentation),
◊ 100% of Working Family Tax Credit,
◊ 100% of investment and trust income.

Valuation Scale

Purchase Price	Valuation	Homebuyers & Valuation
£0 - £100,000	£205	£350
£100,001 - £150,000	£250	£400
£150,001 - £200,000	£290	£500
£200,001 - £250,000	£325	£550
£250,001 - £300,000	£350	£600
£300,001 - £400,000	£400	£700
£400,001 - £500,000	£450	£800
£500,001 - £600,000	£505	£830
£600,001 - £700,000	£555	£880
£700,001 - £800,000	£605	£905
£800,001 - £900,000	£680	£955
£900,001 - £1,000,000	£780	£1005
£1,000,001 plus	By Neg.	By Neg.
Others	Further Advance - £75 Re-Inspection - £65 Drive-By - £80