Home Mortgages How to apply Ways to apply

Ways to apply

As a responsible lender, we’re careful when it comes to offering mortgages. Eligibility criteria are below – if you’re not sure, please give us a call.

All customers

To apply for a first direct mortgage, you and any joint applicant must:

  • be a permanent UK resident and UK tax payer
  • be able to provide evidence of your income and outgoings to show that you can afford the mortgage.
  Repayment Offset
Minimum loan £10,000 £30,000
Minimum salary - Sole applicants must have a minimum salary of £50,000, joint applicants must have a combined salary of £75,000, or one party with a minimum salary of £50,000.
Maximum term 40 years 25 years
Minimum term 2 years 2 years
Maximum loan
to value (LTV)
90% 75%

General property criteria

All properties must be in the UK and be of standard construction with a working kitchen and bathroom.

At the moment, we don’t lend on Buy to Let properties or where the property has been bought under a right to buy or shared ownership scheme. The property must be used as your main residence and not for business purposes.

For leasehold properties, we’ll only lend if there is at least 25 years left on the lease at the end of the proposed mortgage term.

New build properties

We count a property as being new build if it is less than two years old or has never been occupied in its current format. If you're borrowing against a new build property:

  • we may lend up to a maximum of 85% Loan to Value (LTV)
  • if you have an LTV greater than 75% you’ll need to have a minimum deposit of £25,000.

For remortgaging

  • your property can’t currently be up for sale.

Properties with land

If the property has more than 15 acres:

  • we’ll need a building survey before we can release any part of the mortgage loan
  • you’ll need to confirm there is no agricultural restriction attached to the property and that it’s used for personal use
  • we’ll only be able to lend you up to 75% of the purchase price or valuation, whichever is the lowest.

Flats

  • we may not offer a mortgage on a flat in the same building as a commercial property
  • if the building containing the flat has more than five floors, it must have a lift
  • if the block is ex-local authority we will require confirmation that at least 75% of the flats are now privately owned
  • we're generally unable to offer lending on freehold flats in England and Wales unless the property is of a particular type located in Tyneside or we’re also taking security against the freehold of the whole building.

Self-employed?

If you, or your joint applicant, are self-employed, you’ll need to submit audited accounts prepared by an appropriately qualified accountant in support of an application. The governing bodies that we recognise for accounting purposes are:

  • ACCA / FCCA – Association of Chartered Certified Accountants
  • ICAEW – Institute of Chartered Accountants (England & Wales)
  • ICAS – Institute of Chartered Accountants (Scotland)
  • AAT – Association of Accounting Technicians
  • ATT – Association of Taxation Technicians
  • CIOT – Chartered Institute of Taxation
  • CIMA (ACMA) – Chartered Institute of Management Accountants
  • CAI – Chartered Accountants Ireland
  • IFA – Institute of Financial Accountants.

If you’re an accountant and you complete your own accounts or a Sole Trader and complete your own self-assessment for Inland Revenue Tax purposes, you’ll also need to have them retrospectively signed and over-stamped by another independent accountant.

Find the mortgage for you

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Lines are open Mon to Fri 8am to 10pm, Sat 8am to 8pm and Sun 9am to 8pm.

Lines are open Mon to Fri 8am to 9pm, Sat 8am to 5.30pm.