Employed |: P60's, Payslips and Employers References are needed
             |: in most cases
             |: This does not apply to contract workers. 
             || Miniumum period in employment 3 mths on a permanent 
             || basis, 6 mths history required.
             ||  
    Self Emp |: 3 yrs accounts required but where the length of 
             || trading is less we will also consider - 2 years 
             || accounts, plus 100% of satisfactory projection - 
             || loans upto 95% 
             || 1 years accounts, plus 100% of a satisfactory 
             || projection - loans up to 90% on mid prime.
             || Accountants statement required in all cases
   Guarantor || If the guarantor has sufficient income to support the 
             || whole loan, minus existing mortgage/loan/credit card 
             || commitments the application will be acceptable, regardless
             || of the income of the applicant. Please note that any 
             || outstanding mortgagr balance will be deducted from the 
             || maximum borrowing amount at AIP stage.
    FTB      || As above
    RTB      || As above
    All      |: Previous Lender / Landlords Ref (not private 
             || landlords)
             || Credit Ref (Equifax)
             || Valuation
             || Last annual mtg statement accepted as proof of mtg 
             || payment if the year end statement date is within 6
             || mths of the date of mtg application 

Car Allowance|: Use up to 100% guaranteed as allowable income.

Overtime/Bonus payments - Senior mortgage underwriters empowered to  
             to include up to 100% guaranteed, 50% regular of this additional
             source of income in allowable income. (Guidance to be 
             provided to underwriter taking the following factors into 
             account: loan to ratio; type of loan; type of industry and 
             type of occupation).             

Minimum Employment - Reduced from 6 and 3 months provided confirmed as  
             being in a permanent role and not subject to a probationary 
             period. same employment criteria will now for apply for 
             capital rasising loans.
     
First Time Buyers - Utilise credit check to assess repayment of other loans 
             where data available.

Lender references - Utilise credit check to assess repayment of other loans
             where data available.

Estimates - No longer required on remortgage and right to buy applications.

    LENDING POLICY FOR 100% MORTGAGES
   
    Showing on the Voters Roll for the last three years
       or
    Provides satisfactory proof of occupancy for the last three years








 


  

   

    Acceptable Purposes
    Home Improvements (Max 95%)
    Marital Settlement (Max 95%)
    Re-Finance (Max 95%)
    Education Fees (Max 85%)
    Holiday (Max 90%)
    Holiday Home (Max 90%)
    Investment (Max 90%)
    Purchase car, boat, caravan etc (Max 90%)
    Second Home (Max 80%)
    Medical Expenses (Max 90%)
    Debt Consolidation (Max 90%)

    Remortgages - loan tolerance of up to 1000 available which can be 
    invoked should arise to allow the solicitor to increase the loan
    amount for completion without an amended offer. 


  

   
                         
    UK Tax Payers         ||: Must be for at least 2 years
    Arrears Outstanding   ||: No
    Arrears Settled       ||: Yes if less than 2 mths
    CCJ'S Outstanding     ||: No
    CCJ'S Settled         ||: Yes within criteria limits
    Bankruptcy            ||: No
    Ex Patriates          ||: Yes
    DSS Payments          ||: No
    Diplomatic Immunity   ||: No
    Debt History          ||: No
    Guarantors            ||: refer to lender
    Max age for mortgage  
    applicant             ||: 75
    Interview Required    ||: Branch interview
    Secondary Income      ||: Considered - Refer

    Shared 0wnership: Refer to Lender.

    LIFE COVER REQUIREMENTS
    Pension  |: Personal - 100% Tax Free Cash at 13% Growth Rate
             || Company & Executive - Unacceptable
    Int Only |: Term Assurance recommended

    Most major Life Co's acceptable


  

   

    30 admin fee charged if lenders Buildings Insurance is not 
    taken. 
    Maximum property value is 800,000
    Minimum Property value 40,000 in England, Wales & Northern 
    Ireland. 25,000 in Scotland
 
    BUY TO LET
    Minimum Valuation 50,000 except for London Postal Codes which
    is 85,000 and South East Postcodes 70,000

    BTL mortgages of up to 65% LTV we will adopt the industry stanard by
    only seeking to obtain confrimation of rental income (and not the
    applicants income) as long as the application satisfies fully the BTL
    criteria in all other respects.

    Where tenants of BTL property are family members of the landlord 
    (our borrower) then such mortgages will be classified as being 
    second properties for dependent relatives. Such loans are classified as
    regulated where as normal BTL loans are non-regulated.
  
    Maintenance Payments
    50% of evidence maintenance payments will now be accepted as 
    allowable income.   

    PURCHASE
    Council RTB House

    RTB - Max 100% DPP 95% OMV

    TENURE
    Freehold House
    Feuhold House / Flat (Scotland)
    Leasehold House / Flat
    Minimum lease required on redemption - 40 yrs

    CONSTRUCTION
    Conventional Brick / Tile
    Timber Frame (Brick / Other Cladding) Only after 1975.
    Thatched House - Refer

    PROPERTY
    Flat up to 6th floor (with a lift)
    Flat up to 4th Floor (with/without lift) 

    OTHER
    Back to Back (Refer)
    Converted Flat
    Ex Council House
    Single Bedroom
    Self Build (5 stages, 1st Stage to buy land)

    LOCATION
    England, Wales, Scotland & Northern Ireland

    Northern Ireland - 19-21 Cornmarket
                       Belfast
                       Tel||: 01232 242277

    Type of property - Follwing added to the types of acceptable properties:
    * Mordern converstions.
    * properties that do not have separate bedrooms, sitting rooms,
      Kitchens or bathrooms (e.g. high quality apartments and conversions)
      with a minimum floor area of at least 60m squared.
    * Properties with more than six floors, but with a continuing exclusion 
      of ex-Local Authority or Housing Assocation properties.








 


  

   

~   PROPERTY VALUE             FEE    
~   (not exceeding)         


    Payable on application
    Further Advances Fee 60
    Re-Inspection Fee 40
    Valuation fee include a 90 admin fee
    Valuations by Staff valuer

    Minimum Valuation - 40,000 in most areas (exceptions to be defined).

    Homebuyer Fees :
~   PROPERTY VALUE             FEE    
~   (not exceeding)         
    Upto   50000              300
    Upto  100,000             380
    Upto  150,000             445
    Upto  200,000             500
    Upto  250,000             570
    Upto  300,000             670
    Upto  400,000             870
    Upto  500,000             1070
    Upto  600,000             1295
    Upto  700,000             1345
    Upto  800,000             1495
    Upto  900,000             1645
    Upto  1m                  1795

    Over 1m                   By refferal

    HOMEOWNER LOAN FEES

    Upto 5,000			150
    5,000 - 10,000		175
    10,001 - 15,000   	200
    15,001 - 25,000		225
    25,001 - 50,000           250
    Over 50,001 		350 

    


  

   

|   (Known as Mortgage Guarantee Premium by the lender)
|   Up to    75%    ||Nil
|   75.01% - 80%    ||4.95% / 1000
|   80.01% - 85%    ||5.95% / 1000
|   85.01% - 90%    ||7.95% / 1000
|   90.01% - 95%    ||8.95% / 1000

|   Min Premium - 250
|   Premiums may be added to the advance within LTV limits for 
|   each product.  Indemnity Insurance is provided by Royal &
|   Sun Alliance.    
  


  

   

    Bridging Finance         ||: No
    Drawdown Facility        ||: No
    Equity Release           ||: No
    Premium Funder           ||: No
    Self Build               ||: Yes - See Below
    Stage payments           ||: Yes - See Below
    Top Ups                  ||: No
    Further Advances         ||: Yes - see below
    Payment Protection       ||: Yes
    Split Loans              ||: Yes
    Negative Equity          ||: Yes (If with LHBS)
    ERP Refund / Waiver      ||: No
    Legal Fees Package       ||: Refer
    Secured Loans            ||: Yes
    Semi / Full Commercial   ||: No
    Second Charges           ||: No
    Minimum Term             ||:  5 Years
    Maximum Term             ||: 40 years
    Telegraphic Transfer     ||: 30.00
    Lenders Life Tie         ||: Norwich Union


    Self Build & Stage Payments
    Applicants for self build and stage payments will now be 
    considered under the following criteria :
    Maximum ultimate LTV does not exceed 90%
    Stage Payments to be released in up to 5 stages, ageed by a 
    suitably qualified surveyor/valuer (a fee will be charged for 
    each stage re-inspection)
    
    Further advances lending policy:
    Requirement for solicitors to act- Solicitors no longer required to 
    act in loans over 50,000. Title insurance will be obtained. 

    Let properties - Home improvements on let properties allowed up to 
    a maximum LTV of 80%.

    Finance to pruchase land is acceptable as first stage, provided 
    detailed outline planning permission is obtained and full 
    schedule of costs are available 
    Up to 85% LTV allowed at each stage

    EASY TRACK SCHEME 
    Yes, EasyTrack is for Leeds & Holbeck mortgage customers moving home.
    We can offer increased income multiples, priority approval and when your
    completes their mortgage on the new property we will pay a cashback of
    200. 

    SERVICE/PROC PAYMENTS
    125 per case. In addition, 50 will be paid for the sale of an 
    payment protection policy 

    Over 250,000 purchase/valuation 0.12% 
       
    Underwriting Flexibilty - senior mortgage underwriters empowered to 
    adopt a common sense view when underwriting mortgages where a degree 
    of discretion may be required.

    Buy To Let- Leeds and Holbeck will now allow well financed and 
    experienced landlords more than 3 properties in their portfolio.

    High Value Loans/properties

    Standard maximum loan is 500000
    All loans over 500k should be referred to the society for AIP.
    Loans on high value properties(more than 800k) will now be allowed
    and as such will no longer be classified as outside the societys
    normal criteria.