Later Life Criteria

85

90

2

£17,500 per application (joint or single)

Mortgage, loan, HP arrears and missed payments => 3 years prior to application: Status 1s and 2s are accepted – status 3 or above not accepted.

Mortgage, loan, HP arrears and missed payments within the last 3 years are not acceptable.

Credit Card, mail order, utility commitments => 3 years prior to application: Up to and including status 2s are acceptable.

Credit card, mail order, utility commitments =< 3 years prior to application: Status 2 – OK to proceed subject to the commitment being up to date for a minimum of 12 months prior to application. Status => 3 are OK subject to commitments totalling less than £500 and being up to date for a minimum of 12 months prior to application.

Minimum: 5 years (product dependent)

Maximum: 35 years

Please note, our maximum age at the end of end of the mortgage term is 90.

We will consider remortgage applications where the applicant has been the registered owner for the past 6 months. Refer if less than 6 months.

Repayment, interest only and part and part applications accepted dependent on the selected product.

Sale of mortgaged security/investments/sale of other property/endowment.

Our minimum equity requirement is subject to underwriters discretion. 

England and Wales.

The property must be the main residence of the applicant(s).

Properties must be of traditional construction.

Timber framed properties may be considered if brick clad.

New build houses subject to NHBC/Local Authority Building Control Scheme/Premier/Checkmate (Castle 10)/Buildzone/Zurich/ICW (International Construction Warranties)/AHCI Ltd or Professional Consultants Certificates.

Purpose built flats/maisonettes are acceptable (new builds not acceptable). Must be leasehold.

Flats/apartments more than 4 storeys. If above 4 storeys, they must be serviced by at least 1 lift. Flats above 6 storeys are not acceptable.

Properties must be of traditional construction.

HMOs, self-builds, properties held in Trust, present or former hotels/guest houses/B&Bs, commercial properties (even if applicants intend to convert back to residential).

Prefabricated properties.

Studio flats and ex-local authority flats/maisonettes.

New build flats.

Flats above commercial property.

Properties under 5 storeys with a flat roof are unacceptable security.

Any construction covered by Housing Defect Legislation such as high alumina cement, prefabricate reinforced concrete, large panel system, BISF.

Any property where an EWS1 form for wall cladding is required.

For leasehold, there must be a minimum of 85 years’ unexpired lease at the start of the mortgage and 55 years remaining at the end.