Residential policy
Where we lend
- We lend in on properties in England, Northern Ireland, Scotland and Wales. This includes Isle of Wight, Scilly Isles, Lindisfarne, Lundy, Shetland Islands, Orkney Islands, Outer Hebrides, Inner Hebrides, Clyde Islands, Anglesey, Holy Island and Caldey
- We do not lend on properties in the Channel Islands (Bailiwicks of Guernsey and Jersey) or the Isle of Man
Standard construction
A property’s suitability is subject to individual assessment but generally, a property is acceptable where it’s of standard construction with brick, block or stone solid or cavity walls, or modern timber frame with a masonry external skin, or modern steel frame with a masonry external skin (if originally with NHBC guarantee), and a main pitched tiled, slated, thatched or modern metal sheet covered roof (not corrugated iron) or flat felt, asphalt, copper, lead, zinc or GRP covered roof or timber cut, trussed, or a steel frame roof. Historic hardwood timber framed infilled properties are also usually acceptable.
Non-standard construction
- Properties of non-standard construction are considered individually, including where modern methods of construction (MMC) have been used. High alumina cement, Large Panel Systems (LPS) and lightweight softwood timber framed properties are not accepted
- Prefabricated Reinforced Cement (PRC) are only considered if repaired under an approved scheme for properties of no more than 2 storeys and there is not an adjacent unrepaired property
- Timber clad properties are not accepted unless it is lightweight for decorative purposes only and covering a small proportion of the wall surface
Commercial
- Properties with appropriate home office are usually acceptable. Any other commercial use is not accepted
- Properties over or adjacent to commercial premises are acceptable subject to valuer assessment including that the commercial premises doesn’t detriment demand or enjoyment of the property. The entrance must not be via the commercial premises and properties immediately above or adjacent to food, drink or dry cleaners will usually be unacceptable
Japanese Knotweed
Japanese Knotweed is categorised as:
A. Causing visible damage to the property
B. Impacting the amenity space of the property
C. Within the boundaries but not impacting the amenity space of the property
D. On neighbouring property or land
Categories A and B
The surveyor will usually request a report by a PCA or ISSE registered firm. All recommended remedial works must be undertaken and covered by an insurance backed 10 year guarantee which must be property specific and transferable to subsequent owners and mortgagees in possession. Funding for the works must be ring-fenced and protected by bond-pay, escrow or similar.
Categories C and D
We are usually able to lend with no further requirements.
Warranty
- Properties built or converted in the last 10 years must be covered by an acceptable warranty or professional consultant’s certificate. These must not be offered retrospectively
- Acceptable warranties are Advantage HCI, Build Assure, Build Zone, Building Life Plans (BLP), Castle 10 / Checkmate, Global Home Warranties, Homeproof (formerly Aedis), International Construction Warranties (ICW), Local Authority Building Control (LABC), National House Building Council (NHBC), Premier Guarantee, Protek, Q Assure, Thomas Miller Specialty Construction
- We will also accept a UK Finance standard professional consultant’s certificate issued for a single dwelling, or for a flat which has been converted from a single dwelling. They are not acceptable on new build flats or other developments of more than one dwelling. This is subject to meeting the requirements listed under section 6.7 of the UK Finance handbook for England and Wales and Scotland or section 6.6 for Northern Ireland which include the consultant having appropriate professional indemnity insurance and belonging to an approved professional body
Acreage, annexes, charges of part, flat roofs, flooding, flying freeholds, and neighbouring land
- We have no maximum acreage but for valuation purposes we will not include any land over 2 acres
- Properties with an annex are accepted if it is not let out. If occupied, it must be by family with no security of tenure. If a property has more than one annex, please contact us to see if we can help
- Our charge must cover the entire property and all land within a title - we won’t agree to charge only part of a property or title
- Flat roofs are acceptable up to 100% of the total roof area where the covering is felt, asphalt, copper, lead, zinc or GRP , subject to valuer assessment
- If a property has been affected by flooding or is on a flood plain, this is acceptable subject to valuation and availability of full all perils buildings insurance with a maximum flooding excess of £1,000
- Flying freehold properties are acceptable where no more than 15% of the overall floor area, supported by an indemnity policy which covers potential repair or maintenance liabilities, and there being adequate rights of support and mutually enforceable repairing covenants
- Where the applicant owns land that neighbours the security property over which access is gained or services run to the security property, we will need a mortgage over the neighbouring land as well. This doesn’t apply where the applicant owns multiple flats in a building
Unacceptable properties
- We won’t lend on any properties with agricultural restrictions/ties, smallholdings, live/work units, holiday lets, mobile or static homes, properties which restrict how many days a year they can be occupied, self-builds pre completion, properties with commercial use such as kennels, caravan parks or farms
- Properties with a pre-emption clause or section 106 restriction/restrictive covenant on occupation, use or development (other than where allowed for Right To Buy & Shared Ownership) are usually not acceptable
You might also want to check our criteria on cladding, flats, help to buy, leasehold, new build, right to buy, shared ownership, & valuation fees.