Summary of changes to Lending Criteria 18 August 2014

The table below outlines all changes made to our Lending Criteria as of 18 August 2014.


 Buy to Let Tenancy Agreements for corporate lets           Further wording around corporate lets has been added for clarification
Let to Buy             Further clarification of the let to buy criteria has been added.
 Income  Loan to Income calculation    A new sentence has been added confirming that applications which exceed 5 x (acceptable) income will be declined.
 Right to Acquire     New section added for Right to Acquire applications and confirmation that the Right to Buy policy will apply.
 Help to Buy  Help to Buy  A new sentence has been added confirming where the loan to income calculation exceeds 4.5 (acceptable) income for a Help to Buy case, the application will be declined.
 Proof of ID Foreign Identification New table added to replace the wording  New table added to show acceptable forms of foreign identification

 Property Types

Steel Frame Construction                A new sentence has been added to confirm the criteria on steel frame construction types does not apply to newly built blocks of flats.
 Flat roof   A new section has been added to confirm Society criteria on flat roof properties.
 Minimum Submission Criteria     A new bullet point has been added to this section regarding applications received in the name of the broker themselves.


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