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.

 

Residential Lending Criteria 

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.

 

BTL Lending Criteria 

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.
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