Lending criteria updates
This section will keep you up to date with any changes or clarifications to our lending criteria made in the last six months. Please ensure you read our revised lending policy prior to submitting any applications.
Residential
More information on the changes can be found by visiting the relevant criteria category and sub-section.
| Policy update | Policy category | Policy sub-section | Effective date |
|---|---|---|---|
| Ex-local authority | Property | Flats | July 2023 |
| Builder incentives cashback | Property | Builder incentives | June 2023 |
| EWS1 Certificate | Property | Flats | June 2023 |
| Further advance - unacceptable loan purposes |
Loan criteria |
Unacceptable loan purposes | June 2023 |
| Acceptable spray foam | Property | Spray foam Unacceptable loan purposes May 2023 | May 2023 |
| New build definition for flat conversions |
Property | New build or converted properties (less than or equal to 2 years old, or first occupation) |
March 2023 |
Buy to Let
More information on the changes can be found by visiting the relevant criteria category and sub-section.
| Policy update | Policy category | Policy sub-section | Effective date |
|---|---|---|---|
| BTL reference rate | Rental criteria | Rental Income Interest Coverage Rate (ICR) and Reference rates | July 2023 |
| Ex-local authority | Property | Flats | July 2023 |
| Builder incentives cashback | Property | Builders incentives | June 2023 |
| EWS1 Certificate | Property | Flats | June 2023 |
| Further advance - unacceptable loan purposes | Loan criteria |
Unacceptable loan purposes | June 2023 |
| Acceptable spray foam | Property | Spray foam | May 2023 |
| ICR on total portfolio | Portfolio landlord criteria | Find out more | April 2023 |
| New build definition for flat conversions | Property | New build or converted properties (less than or equal to 2 years old, or first occupation) | March 2023 |
If you have any queries on changes made to our lending criteria and how they affect you, please contact the Intermediary Development Team.
