Frequently asked questions

You need to be aware that when a product is sourced on Mortgage Brain and Trigold, adding the arrangement fee will affect the LTV

• We cannot consider a Buy to Let (BTL) application where the borrower or any family member has lived in the property in the last 2 years, unless they already have an existing BTL mortgage in the background. If they are looking to do a Let to Buy (LTB) with us, we can consider this so long as they have an existing BTL mortgage in the background.
• If an applicant owns 3 flats in a block, we can do one of these on a residential basis however we cannot do this on BTL applications.
• If there are 4 or more flats we are able to offer on a BTL or residential basis as long as the applicant’s exposure with all lenders and unencumbered properties is not more than 25% of the building at completion.

As long as the applicant has active credit registered in their name or is on the voter’s roll at their current address, the case can be considered providing it passes the DIP. For the DIP to accept the system requires 3 years address history in the UK and won't accept foreign addresses. If the applicant hasn’t been back in the UK for 3 years you would need to input on the DIP that they had been in the UK for 3 years, but a note MUST be added with the foreign address details on the full application. This will then satisfy the underwriter assessment subject to other criteria being met.

Where repayment of a Mortgage is dependent upon income continuing beyond normal retirement age (deemed to be 68 in line with future Government State Pension age) then such cases will be referred for manual underwriting where an assessment of affordability will be made. Where Customers have an anticipated retirement age, State Pension age or compulsory retirement of less than 68, and repayment of the Mortgage is dependent upon Income extending beyond this, these will also be subject to a referral for manual underwriting to establish affordability into retirement. Income used to support the affordability assessment can be based on any of or a combination of (a) Existing Income streams where we are satisfied that the Customer can continue to work (b) Existing Pension Income where this is being received and (c) Proposed Pension Income. Where affordability cannot be established through this assessment, then maximum Mortgage term will be limited to normal retirement age.

The exceptions are listed below:

Serving Members of the Armed Forces
Civilian Support staff are excluded
Uniformed Police Officers
Serving Members of the Fire Brigade
Active Paramedics and Ambulance Staff
Occupations where there is a PCV/HGV licence requirement

For any of the above listed occupations and they are going to go past the retirement age of 68 we would need to see proof of pension income

Key points:

• Minimum trading period is 2 years
• Proof - Last 2 years tax assessments (SA302s and Tax Year Overviews stating 100% complete) OR Certificate from a suitably qualified accountant with 2 years figures
• The proof of income figures provided must include the last financial year-end and this must be no more than 18 months old
• The affordability calculation will use the lower of Last year’s income or an average of the last 2 years if increasing
• Where profits/income is declining, the application may be declined if a suitable explanation for the decline is not provided
• Latest full month Bank statement to show income/expenditure

We take the applicant’s salary they’ll be receiving once they return to work. Notes to be adding to ‘Tell us’ confirming when they left for maternity and what hours and wage they’ll be returning on.

If returning on the same salary/hours as when they left, please include the last pay slip they received before maternity leave. If they are returning on reduced hours/pay please include employers details as we may request a reference. If the person is on maternity, a dependent should be keyed. If they’re having twins 2 dependents, etc. Childcare costs would also need to be factored as a commitment, in the affordability calculation.