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Residential policy

Maximum LTV


When do we define a property as a new build?

A residential house that is converted into flats is not defined as a new build.


Cash incentives

Cash incentives up to 5% of the purchase price are accepted up to 90% LTV without affecting the loan amount. If greater than 5%, the balance of the incentive above 5% must be deducted from the purchase price when calculating the maximum loan amount.

Where the LTV on a Shared Ownership case is greater than 90%, cash incentives must be deducted from the purchase price when calculating the maximum loan amount.

Cashback deals, Stamp Duty paid, payment of professional fees (solicitors, surveyors etc) and guaranteed rental payments for a specific period, are all considered to be cash incentives.

Non-cash incentives

Non-cash incentives are accepted without affecting the loan amount. Incentives which are fixed or fitted to the property or white goods are considered to be non-cash incentives.


Properties built or converted in the last 10 years must be covered by an acceptable warranty or professional consultant’s certificate. Find out more in our property criteria.


New build offers are valid for 210 days.

Further offer extensions of 210 days require up to date documentation, a new on sale product to be selected and re-assessment against current criteria. We will also refer to the valuer to determine whether the original valuation report can be used, an updated valuation figure should be used or a reinspection is required. This will not result in additional product or valuation fees.

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