Understanding our mortgage lending criteria | Mortgages | YBS
Our mortgage lending criteria
How our mortgage lending criteria works
It’s how we decide whether we can lend to you.
For example, we have rules about how old you need to be to get a mortgage.
And about how long you can borrow the money for.
It’s a good idea to check our mortgage lending criteria before you apply.
This can help you understand what you’ll need to show to get your application approved.
What's on this page?
Who can get a mortgage with YBS?
What documents do I need?
How long can my mortgage term be?
If you need an income to make the loan affordable, the term must finish by whichever comes first, your retirement age or your 70th birthday.
Can I repay my mortgage early?
What loan amounts do you offer?
Minimum and maximum loan amounts
New build properties
| Your Loan to Value | Minimum loan amount | Maximum loan amount |
|---|---|---|
| Up to 75% | £25,001 | £5,000,000 |
| 75% - 90% | £50,000 * | £1,000,000 |
Existing properties
| Your Loan to Value | Minimum loan amount | Maximum loan amount |
|---|---|---|
| Up to 75% | £25,001 | £5,000,000 |
| 75% - 85% | £50,000* | £2,000,000 |
| 85% - 90% | £50,000* | £750,000 |
| 90% - 95% | £50,000* | £600,000 |
| 95% - 99% | £95,001 | £495,000 |
Properties in Northern Ireland
| Your Loan to Value | Minimum loan amount | Maximum loan amount |
|---|---|---|
| Up to 75% | £25,001 | £5,000,000 |
| 75% - 85% | £50,000* | £2,000,000 |
| 85% - 90% | £50,000* | £750,000 |
Existing customers borrowing more
If you’re an existing mortgage customer and you want to borrow more, the minimum loan is £3,000.
Proof of income
We need to see different documents depending on your employment status.
If your loan is less than 75% LTV:
Your last payslip with a corresponding bank statement
If your loan is more than 75% LTV:
Your last 3 payslips plus the bank statement showing the salary credit from your most recent payslip.
- Latest month's personal bank statement
- Latest month's business bank statement
In addition to this we will write to your accountant for confirmation of your income. If your accountant is not on our list of recognised accountants or you do not have an accountant, we require your latest 2 years SA302s.
You'll need to be employed in one of the following occupations:
- NHS Bank nurses and locums
- Non-NHS Bank nurses
- Care Home Workers
- Supermarket Workers
- HGV Drivers
- Retained / On-Call Firefighters
- Armed Forces Reserves
- Supply Teachers
You'll also need to provide evidence that you've been employed on a zero hour contract for a minimum of 12 months. We'll need to see:
- Your last 3 payslips
- A bank statement showing your salary paid in from your most recent payslip.
- A copy of your current contract
- A copy of your P60 from the current tax year
Limited Company Directors with more then 25% shareholding (or less than 25% where income is derived from dividends) will need the following:
- Latest month's personal bank statement
- Latest month's business bank statement
Latest month's personal bank statement. In addition to this we will write to your accountant for confirmation of your income.
Something to bear in mind: We'll always take into consideration the dividends for the last trading year or the average for the last 2 years, whichever is lower.
If the business has been set up for less than 2 years, the finalised years figures and a projection for current year will be required.
Getting a conveyancer
Repaying your mortgage
If we’re not able to find a solution, we may have to repossess your home as a last resort.
Recognised Accounts
- Institute of Chartered Accountants (FCA/ACA)
- Association of Chartered Certified Accountants (ACCA/FCCA)
- Chartered Institute of Public Finance Accountants (CIPFA)
- Institute of Company Accountants (ASCA/FSCA)
- Association of Authorised Public Accountants (FAPA/AAPA)
- Association of International Accountants (FIA/AIA)
- Institute of Chartered Accountants in Scotland (FCAS/ACAS)
- Institute of Chartered Accountants in Ireland (ICAI)
- Chartered Institute of Management Accountants (CIMA)
- Association of Accounting Technicians (AAT)