Lending Criteria.

We can consider applicants on zero hours contracts subject to a minimum of 18 months in the position.

We can accept 50% of this form of income

We can accept 50% of this form of income

We will accept 50% on an annual bonus.If the bonus is guaranteed and the employer can confirm this we will consider a higher percentage

We will accept 50% of a half yearly bonus.If the bonus is guaranteed and the employer can confirm this we will consider a higher percentage.

We can accept 50% of this form of income. If the bonus is guaranteed and the employer can confirm this we will consider this at 100%.

We can accept 50% of this form of income. If the bonus is guaranteed and the employer can confirm this we will consider this at 100%.

We can accept 100% of this form of income

We can accept 50% of this form of income, the applicant must have a reasonable track record of commission earnings

We can accept 50% of this form of income, the applicant must have a reasonable track record of commission earnings

We can accept 50% of this form of income, the applicant must have a reasonable track record of commission earnings

We can accept 50% of this form of income, the applicant must have a reasonable track record of commission earnings

We can accept 100% of this form of income. We can accept Police Housing Allowance for which we will use 100%

We can accept 100% of this income as long as it’s a permanent feature of an employment contract

We can accept 100% of employment income from a family business as long as there is a suitably qualified Accountant for the business who must be able to confirm income level

We are unable consider Flight Pay as an acceptable source of income for affordability purposes.

We can accept this form of income as long as this is a permanent element of the applicants contract

We can accept 100% of this form of income

We do not accept mileage allowance as an acceptable source of income for affordability purposes.

We can accept 50% of this form of income. If the overtime is guaranteed and the employer can confirm this we will consider this at 100%.

We can accept 50% of this form of income. If the overtime is guaranteed and the employer can confirm this we will consider this at 100%.

We can accept parental/maternity leave pay as long as the employer confirms in writing the applicants return to work date & salary

We are not able to accept income paid cash in hand

We can accept 50% of this form of income as long as the applicant has had this job for a minimum of 6 months.

We can accept up to 100% of this income as long as they have been receiving this for at least 18 months and can evidence a P60

We can potentially consider Standby / Call Out as an acceptable source of income for affordability purposes. We will utilise an average of the last 3 months and then use 50% of this income.

We can accept 100% of this form of income but applicant must have a minimum 18 month track record.

We can potentially accept applicants that receive tronc payments (tips etc) when assessing affordability as long as they can be evidenced on payslips. We will take an average of the last 3 months and then utilise 50% of the annual amount.

We will treat as self employed when assessing affordability of a CIS contractor and therefore will use accounts.

We will require a minimum 12 months contract history in the same line of work. If there is less than 3 months remaining on the existing contract the Society will require a minimum 2 years contract history.

We have no minimum income requirement for contractor applicants.

We can potentially consider an application from applicants with at least 6 months remaining on their current contract.

In these instances annual income will be calculated as Daily Rate X 5 days per week X 46 weeks per annum – this allows for a thirty-day period of no contract work to allow for Bank Holidays, annual leave and some “void” days between contracts.

We will not consider income from an applicant who takes unpaid prolonged breaks from employment with their existing employer.

Employment must have been with current employer for at least six consecutive months at date of application, and the applicant must be on permanent staff. If they have not been with their current employer for six months, they must have been continuously employed for 12 months. If not, then three years’ employment history must be provided.

If the applicant has been in their current job for less than 6 months, applicants must have a minimum of 12 months continuous employment history. Please refer to our Business Development Team if your customer is still in their probation period. If they are, the previous role must have been in the same line of work. This will be reviewed on a case by case basis.

We can accept a pending new job salary as long as confirmed by the employer and at least one payslip provided prior to offer.

We can accept a pending payrise as long as confirmed by the employer and to occur prior to completion

We can consider applicants currently in a probation period as long as this will end prior to completion and their previous job was in the same line of work. Please refer to the Business Development Team to discuss further.

We will not lend on leasehold properties where an escalating ground rent that double or any that increase by RPI with a review any more frequent than every 10 years

We will not lend on freehold properties where exists any estate charge obligations against the purchaser.

We can potentially lend to EU, EEA (Including Iceland, Norway and Liechtenstein) and Swiss citizens if clients can evidence that they have successfully applied for pre-settled status. Maximum LTV 80%. Applicant must have been a resident in the UK for a minimum of two years (evidenced through passport stamp or other immigration documentation), have a valid UK work permit/visa (with at least 2 years left to run until expiry) and have been working in the UK for a minimum of 2 years, employed applicants only and subject to UK tax, and hold a UK Current Account. Because of the potential short term nature of residency, non-UK nationals will be assessed on an individual basis, the applicant(s) should be of professional standing and working in one of the following sectors – Education, Healthcare, Finance & Banking, IT or Legal. Applicants must have a minimum deposit of 20% (Gifted deposits are not acceptable). Consideration will be given to employment type and potential length of stay within the UK

We can potentially lend to EU Nationals with a ‘settled status’ under the EU Settlement Scheme. A copy of their passport confirming their permanent status or a letter from the Home Office should be evidenced.

We will not consider an application on an ex MOD property