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Application
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A - Z of Application criteria
Deposit sources
Direct Debits
Early repayment charges
Expanded higher LTV criteria (95% LTV)
Interest
Loan to income multiples
Loan purpose
Loan size
Location
Maximum LTV
Mortgage Term
Offer validity
Overpayments
Payment holidays
Porting
Rate switches
Remortgage & Additional Borrowing
Repayment methods
Customer
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Adverse Credit
Age
Applicants
Asylum Seekers
Boosters
Commitments & Expenditure
Customer Verification
Dependants
Expat
First-Time Buyer
Home Movers
Non UK Nationals
Overseas applicants
Owners
Retirement
Students
Vulnerable Customers
Income and employment
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A - Z of Income types
Benefit income
Contract workers
Employed
Foreign currency income
Holiday Lets
Minimum incomes
Other income types
Parental Leave
Pay increases
Pension
Piecework
Rental income
Retirement income
Self Employed
Stipend Income
Property
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A - Z of Property types
A - Z of Purchasing schemes
Bedroom count
Construction types
Current value
Discounted purchase price
Flood Risk
Help to Buy
Leasehold
New builds
New Build; Incentives & Part Exchange
Property Charges
Property values
Retentions
Tenure types
Valuations
Packaging guide
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Employed income
Employed income
- Most recent 1 months’ or last 4 weeks’ payslips for basic pay only
- Most recent 2 months’ or last 8 weeks’ payslips where any bonus, overtime, commission etc. is evidenced
- Latest months’ bank statements showing income, expenditure and any rent/mortgage payments
Additionally
Such as overtime, commission, bonuses or allowances can be evidenced by:
- P60 OR
- The last tax years March payslip (The YTD will be used) OR
- Relevant payslips showing payments OR
- Sa302 (self-assessment)
Only bonus income that has been evidenced will be used. Where bonuses are received on a biannual, quarterly or more frequent basis, an annualised value should not be assumed and must be evidenced.
Probation Period
Where an applicant is within a probationary period (defined as within the first 6 months within their current role/employment) the following are required:
- confirmation that the customer is guaranteed to become permanently employed (Example; Contract showing no or a completed probation period) OR
- 12 months track record within a similar role or profession. This can be evidenced through; contracts, bank statements, payslips, P60 or Sa302 (Self assessment).