Almost Prime criteria
To help make our Buy to Let criteria quicker for
you to reference and easier to understand we have
put all of the key points in one place. This
has been split up into handy sections which can be viewed
using the quick links below.
Product details >
Loan details >
Bankruptcy >
Individual voluntary
arrangement >
Applicant details >
Fee details >
Alternatively, to view our Mainstream products click on the
links below.
View our Almost Prime products
>
Product details
All products are portable
Administration fee is non-refundable
Arrangement fee can be added to the loan
Reversionary rate - 6.12% (LIBOR+ 5.00%)
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Loan details
| Loan Purpose |
Maximum LTV |
Minimum loan
amount |
Maximum loan amount |
Minimum term |
Maximum term |
| Purchase |
65% |
£25,001 |
£250,000
|
5 years |
40 years** |
| Remortgage £ for £ |
65% |
£25,001 |
£250,000
|
5 years |
40 years** |
| Remortgage home improvements |
65% |
£25,001 |
£250,000
|
5 years |
40 years** |
| Remortgage capital raising |
65% |
£25,001 |
£250,000
|
5 years |
40 years** |
| Remortgage debt consolidation |
65% |
£25,001 |
£250,000
|
5 years |
40 years** |
**Subject to maximum age criteria. If the term of the mortgage
goes beyond the projected retirement age as declared by the
applicant, Platform will decline the application or exclude this
income for joint applications.
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Bankruptcy
Applications where a discharged bankruptcy has been recorded
during the last 6 years can be accepted.
For Non-Conforming product selection, any bankruptcy
discharged more than 4 years ago will be ignored.
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Individual voluntary arrangement
Applications
where an individual voluntary arrangement (IVA) has been recorded
during the last 6 years can be accepted.
For
Non-Conforming product selection, any IVA completed more than 4
years ago will be ignored.
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Applicant details
Available to first time buyers
Minimum age is 18 for Almost
Prime products.
Maximum age is 70 at the end of the term.
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Fees
| Introducer fee |
0.50%
(max £1,250)
|
| Property valuation |
Valuation fee |
Additional home buyer
fee |
| AVM |
£20 |
N/A |
| Up to
£75,000 |
£105 |
£220 |
| £75,001 to
£100,000 |
£115 |
£220 |
| £100,001 to
£150,000 |
£135 |
£230 |
| £150,001 to
£200,000 |
£165 |
£235 |
| £200,001 to
£250,000 |
£200 |
£250 |
| £250,001 to
£300,000 |
£225 |
£300 |
| £300,001 to
£350,000 |
£255 |
£370 |
| £350,001 to
£400,000 |
£295 |
£370 |
| £400,001 to
£500,000 |
£355 |
£370 |
| £500,001 to
£600,000 |
£420
|
£405 |
| £600,001 to
£700,000 |
£490 |
£435 |
| £700,001 to
£800,000 |
£540 |
£485 |
| £800,001 to
£900,000 |
£600 |
£525 |
| £900,001 to
£1m |
£670 |
£555 |
| £1m -
£1.5m |
£970 |
By
negotiation |
|
Buildings insurance administration fee
one off fee if buildings insurance is not
arranged through Legal & General
|
£30 |
| Telegraphic transfer
fee |
£15 |
| Higher lending
charge |
None |
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