Criteria Guide
| Residential | Self Certification | Buy to Let | |
| Minimum Age | 18 | 21 | 21 |
| Maximum Age | 65 - unless pension provisions confirmed | 65 - may consider to age 70, depending on merits of case and pension provision | No Maximum |
| Maximum FTV (plus fees) | >£15k - £500k 90% >£500k - £750k 85% >£750k - £850k 80% >£850k - £1m 75% >£1m - £2m 70% >£2m 60% |
75% to £500k |
85% - £500k per case 25 properties £2.5m in Total |
| Professionals Product |
£15k-£400k 90% | ||
| Minimum P/P or Val | See Min Fin below | See Min Fin below | £40000 |
| Minimum Finance | £15001 – Purchase £25001 – Refinance |
£25001 | £15001 – Purchase £25001 - Refinance |
| Maximum Finance | £500k >£500k – see above matrix |
£500k | See Above |
| Fees | Cannot add | Cannot add | Cannot add |
| Employed | 6 months continuous | 6 months continuous | No minimum |
| Self-Employed | 2 years minimum | 12 months minimum | No minimum |
| Income verified | Yes | No | Only > 75% FTV |
| Minimum Income | Multiplier reliant | £10k pa – sole £15k pa – joint |
< 75% FTV - N/A > 75% FTV - £15k pa |
| Financial Stability | Must have 3 years clean credit history | Must have 3 years clean credit history | Must have 3 years clean credit history |
| Multiples | Single - x 4.5 Joint x 4.5 + 1 or 4 x joint |
Single x 4.5 Joint x 4.5 + 1 or 4 x joint |
Rent @ Pay rate x 100%, for all fixed / capped rates of 3 years or moreRent @ Pay rate x 118%, for all other products |
| Professionals Product | Single - x 5 Joint – x5 + 1 or 4.5 x joint |
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| Term | Min - 8yrs Max - NRA Normal retirement age |
Min - 8yrs Max - NRA Normal retirement age |
Min - 8yrs Max - NRA Normal retirement age |
| Available to: | Any individual(s) | Any individual(s) | No FTB’s – With some exceptions |
| Available for: | Purchase or Refinance including capital raising | Purchase or Refinance including capital raising (but not business or speculative) | Purchase or Refinance including capital raising |
| Voters Roll | VR registered orproof of occupancy | VR registered orproof of occupancy | VR registered orproof of occupancy |
| UK Resident | Yes | UK resident for last 3 yrs | Yes |
| Proof of Occupancy | Latest 12 months | Latest 12 months | Latest 12 months |
| Property | For owner occupation | For owner occupation | Let to tenants |
| Valuation Fee | See scale of charges | See scale of charges | See scale of charges |
| Finance Type | Ijara Diminishing Musharaka | Ijara Diminishing Musharaka | Ijara Diminishing Musharaka |
| Existing Mortgage/Finance Verification | Record of last 12 months depending on scoreband | Record of last 12 months | 12 months payment history in last 5 years |
| Other outgoings | Annualised cost deducted from income prior to multiplier | Annualised cost deducted from income prior to multiplier | Not deducted |
