Loan purposes for remortgaging

For all remortgages the property must have been owned by the applicant(s) for a minimum of six months. 

Acceptable loan purposes:
For capital-raising remortgages the following are permitted: 

• Unsecured debt consolidation not allowed above 75% LTV subject to a maximum £50,000 limit or maximum of 10 debts to be repaid 
• School fees 
• Holidays/cars 
• Purchasing another property 
• BTL business purposes 
• Home Improvements 

Please note there are specific restrictions for top slicing cases.

Unacceptable loan purposes:
The following loan purposes are unacceptable: 

• Non BTL business purposes 
• Guarantor supported mortgage 
• Right to Buy/Acquire 
• Shared ownership or equity 
• Sheltered Housing Schemes/retirement villages for elderly 
• Lifetime mortgages 
• Bridging loans 
• Government Homebuy 
• Tenants incentive 
• Regulated BTL (family tenants) 
• Concessionary purchase 
• Gambling 
• Personal business use 
• Unsecured debt consolidation where the LTV is >75% 
• Payment of tax liabilities 
• Office conversions