COVID-19 Criteria Live Feed
Buy To Let: COVID-19 : Furloughed Workers
During the Covid-19 outbreak, will the lender lend to applicants who have been temporarily furloughed under the Coronavirus Job Retention Scheme?
Yes - accepted
Yes
11 days ago  12 April 2024
Yes - accepted
We ignore any effects of covid
2 months ago  23 February 2024
Yes - accepted
Yes
9 months ago  24 July 2023
Yes - accepted
Acceptable
12 months ago  03 May 2023
Yes - accepted
Can consider
one year ago  12 December 2022
Yes - accepted
Yes - No minimum income requirements.
2 years ago  19 July 2022
Yes - accepted
No minimum income requirement for Buy to Let applications
2 years ago  19 May 2022
Yes - accepted
Yes
2 years ago  28 February 2022
Yes - accepted
Yes
2 years ago  17 February 2022
Yes - accepted
Yes
3 years ago  15 March 2021
Yes - accepted
Yes provided the furlough is over and proof of continuing employment is provided
3 years ago  08 December 2020
Yes - accepted
Yes - No minimum income requirements.
3 years ago  10 November 2020
Yes - accepted
Yes - No minimum income requirements.
3 years ago  10 November 2020
Yes - accepted
Yes - No minimum income requirements.
3 years ago  10 November 2020
Yes - accepted
Yes - No minimum income requirements.
3 years ago  10 November 2020
Yes - accepted
Yes - No minimum income requirements.
3 years ago  10 November 2020
Yes - accepted
Yes - No minimum income requirements.
3 years ago  10 November 2020
Yes - accepted
Yes - No minimum income requirements.
3 years ago  10 November 2020
Yes - accepted
Yes - No minimum income requirements.
3 years ago  10 November 2020
Yes - accepted
Yes
4 years ago  08 May 2020
Yes - accepted
We do not require income verification on BTL applications
4 years ago  04 May 2020
Yes - accepted
We do not require income verification on BTL applications
4 years ago  04 May 2020
Yes - accepted
Yes
4 years ago  16 April 2020
Yes - accepted
Yes - No minimum income requirements.
  
Yes with conditions
The Stafford Building Society can consider furloughed workers if they have a date to return in place
13 days ago  10 April 2024
Yes with conditions
Considered - BTL typically self funding
2 years ago  20 December 2021
Yes with conditions
Santander can potentially consider an application from applicants who have been furloughed however they must be back at work at present and be able to evidence a payslip with no furlough. Income must be minimum £25000.
2 years ago  23 November 2021
Yes with conditions
We will consider applications from landlords currently in receipt of furlough income, but they will not be eligible for top slicing
3 years ago  20 September 2021
Yes with conditions
No - applicant must have returned to work. Aldermore will consider an application from applicants who have been furloughed as long as they are back at work and can provide their latest months payslips as evidence.
3 years ago  08 September 2021
Yes with conditions
HBS ideally likes to see the employee return to work for a minimum of 3 months
3 years ago  15 July 2021
Yes with conditions
For lending at or below 80% LTV, we will assess based on the customers current income where they are on/or have recently been furloughed or had any COVID-19 related deductions from their salary/income. This will need to be supported by a letter from the employer to confirm the terms of their furlough or changes to pay, the date they return to work and confirmation of their pay at this point.

For lending over 80% LTV, customers on/or have recently been furloughed or had any associated COVID-19 related deductions from their salary/income will not be accepted. For self-employed this includes any SEISS grants received in the last 6 months. To be considered for an LTV above 80%, employed applicants need to be back at work for 3 months without COVID-19 related reductions.
3 years ago  23 March 2021
Yes with conditions
Will consider if the applicant has been furloughed and returned to work or:
• The client is on currently on furlough.
• Their employment is of one of the accepted industries.
• They can demonstrate in the relevant questions, satisfactory answers.
• Income is calculated at 100% of basic pay and passes affordability.
• They meet the required purpose for the mortgage type.
• The applicant is not aware of any impending redundancy.
• The application meets all other areas of Lending Policy.
• The case meets our core criteria requirements.
• We reserve the right to confirm that there has been no changes to employment circumstances prior to completion of the mortgage.
3 years ago  10 February 2021
Yes with conditions
TSB can potentially consider an application from applicants who are on furlough leave when purchasing a BTL property as long as they still receive a minimum of £25,000 per year as a personal income.
3 years ago  10 November 2020
Yes with conditions
From the 2nd November any borrower who was furloughed under the government's Coronavirus job retention scheme, must have a minimum of 1 month pay at pre-pandemic salary.
We will require the last 3 months payslips to evidence current income and that this has returned to pre-furlough amount.
We will also require the last 3 months bank statements to assess income and expenditure.
3 years ago  10 November 2020
Yes with conditions
Yes, but we require a letter from the applicant's employer confirming firm return to work date. The letter should also confirm salary and employment status i.e. permanent full time/permanent part time/ contract.
3 years ago  10 November 2020
Yes with conditions
We will review applications on a case by case basis
4 years ago  18 October 2020
Yes with conditions
Yes subject to rental income from the property providing sufficient ICR. We will not consider using outside income to top up rental income for furloughed workers.
4 years ago  27 August 2020
Yes with conditions
Hanley will only accept applications from furloughed workers where the applicant has a definite date of return to work which must be within the next 4 weeks. Applications falling outside of this will be declined and a new application will need to be submitted once the criteria can be met.
4 years ago  23 June 2020
Yes with conditions
Employed Applicants: When an applicant has been furloughed, we will support applications for 80% of basic income up to £30,000 p.a., in line with the government scheme
Where documentary proof can be provided to evidence employer β€˜top-up' contributions, we will accept this additional income
Employed income received in the form of overtime, commission, bonus or allowances will not be able to be used for affordability purposes while furloughed

Self Employed Applicants: Where an applicant is eligible for, and utilising or intending to utilise the government scheme, we will allow 80% of income up to £30,000 p.a. in line with scheme rules
For all self-employed applications we will now request 3 months business bank statements in addition to standard self-employed income proofs
All cases will be referred for a manual Underwriter review
4 years ago  01 June 2020
Yes with conditions
Applications will be considered from furloughed staff, but any offer will be conditional on us being able to re-validate their income and employment prior to completion. Self-employed applicants must be able to demonstrate a clear 3 months income feed along with their SA302s – which will also be subject to re-validation prior to completion.
4 years ago  23 April 2020
Yes with conditions
We will assess on an individual basis
4 years ago  22 April 2020
Yes with conditions
This is an unprecedented situation and, as a specialist provider the Bank already uses a manual underwriting process in order to review each cases on its own merits. We will continue to consider applications on a case by case basis.
4 years ago  24 March 2020
Please Refer to Lender
Please refer
one month ago  12 March 2024
Please Refer to Lender
Please refer to lender
4 months ago  13 December 2023
Please Refer to Lender
Refer
one year ago  02 March 2023
Please Refer to Lender
Refer
2 years ago  28 June 2022
Please Refer to Lender
These need to be referred for discussion and assessed on the case merits
2 years ago  14 January 2022
Please Refer to Lender
Please refer. Borrowers considered on merit.
2 years ago  15 November 2021
Please Refer to Lender
Need to be back at work for Buckinghamshire to consider - please refer
3 years ago  15 July 2021
Please Refer to Lender
Speak to our underwriting team - can be considered case by case basis.
3 years ago  01 April 2021
Please Refer to Lender
HOLIDAY LET LENDING - All cases will be considered on a case by case basis. Refer full details to our Lending Support team on 0800 138 9109.
3 years ago  16 March 2021
Please Refer to Lender
For applicants subject to furlough, we will potentially consider the acceptance of furlough income on an individual basis. Please refer all cases.
3 years ago  22 February 2021
Please Refer to Lender
Refer.
4 years ago  24 July 2020
Please Refer to Lender
Refer.
4 years ago  24 July 2020
Please Refer to Lender
Melton Building Society will consider furloughed applicants by referral. Please contact to discuss initially.
4 years ago  04 June 2020
Yes by exception
N/A
2 years ago  05 April 2022
Yes by exception
Each case on it's individual merits
3 years ago  08 April 2021
Yes by exception
For employed applicants who are currently furloughed, the furlough income cannot be taken into consideration for affordability. For applicants impacted, we can still consider additional non-furlough income to support affordability.
We will also still consider joint applications where the non-furloughed applicant's income can support affordability of the loan in full.
3 years ago  16 November 2020
Yes by exception
We are no longer accepting furloughed income for employed applicants.
Existing customers - If your client is an existing customer who is looking complete a transfer of equity or take additional funds, we will consider and assess their case individually.
Pipeline cases – Where we are notified the client is now furloughed and can't confirm a return to work date, their affordability will be reviewed based on their furloughed income. If their employer is topping up their salary, this top up amount can be considered where it can be evidenced.
3 years ago  10 November 2020
No - not accepted
No longer applicable.
one month ago  14 March 2024
No - not accepted
N/a
2 months ago  18 February 2024
No - not accepted
Will not consider
4 months ago  22 December 2023
No - not accepted
Not applicable
7 months ago  11 October 2023
No - not accepted
Not applicable anymore.
7 months ago  27 September 2023
No - not accepted
We no longer accept applicants who are furloughed.
7 months ago  26 September 2023
No - not accepted
Bluestone no longer accepts BTL applications
9 months ago  10 August 2023
No - not accepted
N/A
10 months ago  04 July 2023
No - not accepted
Not accepted
one year ago  18 January 2023
No - not accepted
Furlough is no longer available
one year ago  30 December 2022
No - not accepted
N/A
one year ago  15 November 2022
No - not accepted
No
2 years ago  21 September 2022
No - not accepted
No
2 years ago  21 March 2022
No - not accepted
Where an applicant is receiving income through the Furlough Scheme, we are not able to use their income in the affordability assessment.
3 years ago  27 September 2021
No - not accepted
CHL will not accept any applicant who is under any employment furlough scheme.
3 years ago  02 June 2021
No - not accepted
N/a
3 years ago  08 April 2021
No - not accepted
No
3 years ago  22 March 2021
No - not accepted
No
3 years ago  19 March 2021
No - not accepted
Leeds Building Society no longer accepts and furlough income to support a mortgage applications, clients are to be back in employment fully in line with their contract of employment prior to application being submitted.
3 years ago  01 February 2021
No - not accepted
No - applicant must have returned to work in order to use that source of income.
3 years ago  13 January 2021
No - not accepted
We will not accept Furlough income for mortgage application purposes for employed customers.
Employed customers will need to have returned to work following any period of Furlough and received their first full month's payslip before mortgage applications can be submitted and underwritten.
3 years ago  16 November 2020
No - not accepted
Furlough income is not acceptable.
3 years ago  10 November 2020
No - not accepted
Where an applicant is receiving income through the Furlough Scheme we are not able to use their income in the affordability assessment for new customers or additional borrowing.
For existing customers making changes to their existing Virgin Money mortgage which do not increase their borrowing, we can consider using Furlough Scheme income subject to individual assessment.
3 years ago  10 November 2020
No - not accepted
Furlough income is not acceptable.
3 years ago  10 November 2020
No - not accepted
With immediate effect we have strengthened our position regarding furloughed income applications after careful consideration and to ensure are risk appetite is balanced.
• Any new applications where the applicant is presently furloughed will be declined.
• If the application is joint and one party's unaffected income can meet affordability and policy requirements, then these cases can be progressed.
• If an applicant has been furloughed but is now back to work full time, we can consider these subject to receiving salary slips to confirm full pay levels and an Employers Reference in all cases.
A cautious approach would be required for employment sectors that have been significantly impacted by current events, such as hospitality or travel.
3 years ago  10 November 2020
No - not accepted
HSBC are no longer accepting furlough income
3 years ago  10 November 2020
No - not accepted
We will not accept furlough income.
3 years ago  09 November 2020
No - not accepted
InterBay Commercial will not consider an application from applicants who are on furlough leave.
3 years ago  09 November 2020
No - not accepted
Kent Reliance will not consider an application from applicants who are on furlough leave.
3 years ago  09 November 2020
No - not accepted
No
3 years ago  27 October 2020
No - not accepted
Accord will no longer consider applicants who are in receipt of furlough income.
4 years ago  02 September 2020
No - not accepted
No
4 years ago  03 August 2020
No - not accepted
Furloughed Applicants not acceptable
4 years ago  21 July 2020
No - not accepted
No
4 years ago  04 June 2020
No - not accepted
We are unable to lend to applicants who have been placed on furlough
4 years ago  29 May 2020
Information
N/A
one year ago  07 December 2022
Information
N/A
2 years ago  20 April 2022