Yes, but at remortgage ONLY
Eligibility:
maximum 60% loan to value (LTV)
minimum income criteria of £75,000 for sole applicants, £100,000 for joint applicants. (This is based on basic income only. Secondary income, bonus, overtime or commission can't be used)
minimum deposit varies by region. This will be based on the region selected on the ‘Loan Requirements' page on NFI Online.
£300,000 for Greater London/Outer Metropolitan
£250,000 for Outer South East
£200,000 for all other UK regions
maximum term of 25 years (or retirement if sooner)
sale of main residence as repayment strategy
can't be used in conjunction with any other scheme (e.g. Shared Ownership, Right to Buy, Help to Buy)
minimum lease term of 70 years at application
maximum loan amount of £2 million.
Cases will be assessed on a capital and interest basis. Your client won't be eligible if:
they declare that they have a secured loan, but they're not settling it
a secured loan has been found at the Bureau but isn't declared
a secured loan has been declared but we find a higher monthly payment at the Bureau
your client is retired, or the term will go into retirement
4 years ago
08 April 2020