Find the latest update from Moda Mortgages here. They are available via Brilliant Mortgage Club.
Moda Criteria Update – Day 1 Remortgage
Please be aware that Moda will be launching new criteria as of 9am tomorrow (Friday 27th March 2026).
Moda is expanding it’s Day 1 remo criteria to also include cash purchases, where previously Moda would have only accepted Day 1 remo’s for bridge exits. Full details can be found below:
Day one remortgage applications
Remortgage applications within six months of property ownership are acceptable. For all day one remortgage applications, we require:
- Land Registry evidence of the first charge registration or charge application submission
- the underwriter to be satisfied that the property is intended to be let
- a physical inspection of the property to be carried out
Where the application is to repay an existing bridging loan, the bridging provider must be an FCA registered firm. We also require:
- evidence of the bridging loan agreement
Where the property was originally purchased using your clients’ own funds we require evidence of the source of funds, such as:
- proof of regular savings: bank statements to evidence build-up of funds
- lump sum: latest statement plus evidence of originating source of funds