Number of borrowers

Maximum number of borrowers

Up to two borrowers are allowed on a mortgage loan.


 

Joint borrower sole proprietor

Joint borrower sole proprietor is available for house purchase only.

Non-proprietor must be an immediate family member only.

Immediate family is considered as the following:

• Mother
• Father
• Grandparents
• Siblings
• Child
• Grandchild.

The non-proprietor must provide evidence of them receiving independent legal advice (ILA) prior to completion of the mortgage. This evidence should be a solicitor's letter.

Joint borrower sole proprietor maximum loan to value (LTV) is 95% (plus fees).

All joint borrower sole proprietor loans must be on a capital and interest basis - no interest only lending is permitted.

If the non-proprietor intends to live at the security address the solicitor should receive a signed occupancy form prior to completion of the mortgage.

Proprietor minimum income of £20,000 per annum.



Guarantors

Guarantor applications are not acceptable.