On Tuesday 22 September, we’re rolling on dates by one month and replacing fixed rate product codes. There will be no changes to product rates or fees.
- Product early repayment charges may apply, plus the repayment of any benefit package cashback or paid standard legal work.
- Charge and benefit end dates and the completion deadlines on our range will move on.
- Fixed rate product codes will be replaced.
For full details of our new business mortgage range please see the Rate Bulletin (Issue 20) which will be available on our website on Tuesday 22 September.
Important Buy to Let lending criteria changes
From Sunday 27 September we’ll no longer accept the following income types towards the £25,000 minimum income eligibility for Buy to Let applications:
- Child Benefit
- Child Tax Credit
- Working Tax Credit/Pension Credit
- Maintenance payments.
All full mortgage applications (FMAs) already submitted on Introducer Internet by 9pm on Saturday 26 September won’t be affected by this Buy to Let change. Any FMAs submitted from 6am on Sunday 27 September, or where a material change is made to an FMA submitted before 9pm on Saturday 26 September, will be assessed on our updated income policy for Buy to Let.