Versatility - lending to people, by people
FOR INTERMEDIARY USE ONLY
Versatility is our range of mortgages, where an application may need more of our individual underwriting expertise.
Our Versatility guide covers a number of different application types and within it you'll also find helpful information about our credit criteria.
Lending is available on a capital repayment and interest only basis up to age 85, including a maximum 70% LTV between age 70 and age 85, see the guide for full details.
Here's a summary of the key areas covered in the guide. The criteria shown below is available on selected products within the range, please see the guide for full details.
You can download the Versatility guide from our product guides and downloads page.
Self Employed and Contractors
Whilst we have products and criteria available on our standard range for self employed and contractors, in our Versatility guide you'll find products and criteria for circumstances where the applicant has a limited historic proof of income available up to 80% LTV:
- 1 year accounts considered
- Minimum 1 year trading with 6 months management accounts
- Minimum 1 year trading with most recent accounts or combination of actual and forecast income
Supporting Affordability and Right to Buy
We have included a section covering gifted deposits, discounted purchases and right to buy.
- Right to Buy: up to 90% purchase price and up to 75% LTV; or 100% purchase price + 10% home improvements up to 75% LTV
- Supporting Affordability: discounted family purchase up to 100% of purchase price and up to 80% LTV; gifted deposit from an extended family member; gifted deposit under a trust deed (deposit returned on sale of the property)
Mortgages on Unusual Property Types
We can consider non-standard construction, non traditional design or use and Section 106 Agreements.
If you have a case that you would like us to consider, please contact our Intermediary Sales Support team on 01623 676360.