Employed|: Employers ref (Min duration 12 mths).with a view of
            || emnployment to continue in the foreseeable future.
            || Applicants on a probationary period are acceptable 
            || provided they have been working in the same line of
            || business in their previous employment and 
            || probationary period are standard.Housewives and 
            || students are acceptable as sole borrowers,but in 
            || exceptional cases,with a guarantor. 
            || Previous employers reference. Fixed term contracts
            || are acceptable if there is a 12mth continuous
            || employment (including previous employments) and the 
            || current contract is for a minimum of 12mths with in 
            || excess of 6 moths to run.
    Self Emp|: min trading period 2 yrs. For sole traders & 
            || partnership,where the business has been established
            || for 3yrs or more the bank will take the average of 
            || the last two years net profit.Less than 3yrs 2yrs 
            || accounts and a projection will be obtained.Base on
            || net profit. Sub contractors will be assesed as Self
            || Employed.If the last three yrs a/c are not available
            || SC60s and or tax vouchers covering the same period 
            || must be obtained.  
            || Applicants must have leen in the current line of 
            || 12 month.Applicants who are prietors of new business
            || venture will not normally be considered unless they 
            || are taking over an established concern and a track 
            || record in that type of business.
            || Projections (LTV must not exceed 75%)
            || Accountants Statement - Special Status 
            || only
    FTB     |: As above plus Bank Ref
    RTB     |: As above plus Landlords Ref & Copy of RTB Agreement
    All     |: Existing Lenders Ref
            || Landlords Ref / Copy of Rent Book
            || Bank Ref / 6 mths statements
            || Proof of Identity
            || Other Lenders Ref (may be required)
            || Credit Ref (may be required)
            || Valuation Report

    Acceptable forms of Identity
    Passport Driving License Marriage Certificate Birth
    Certificate


  

   

    Re-Finance (replace existing Loan - Max 90% loans between
    50,000 - 100,000)
    Debt Consolidation (Max 75%)
    Education Fees (Max 75%)
    Family Holiday (Max 75%)
    Holiday Home (UK - Max 75%)
    Holiday Home (Overseas - Max 75%)
    Investment Opportunity (Max 75%)
    Marital Settlement (Max 75%)
    Medical Fees (Max 75%)
    Purchase Car Boat Caravan etc (Max 75%)
    Self Build (Max 90% upto 100000)
    Timeshare (UK - Max 75%)
    Timeshare (Overseas - Max 75%)
    Unencumbered Property (no existing Mortgage - Max 75%)
    Working Capital (Max 75%)


  

   

    UK Tax Payers         ||: Yes
    Arrears Outstanding   ||: No
    Arrears Settled       ||: No
    CCJ's Outstanding     ||: No
    CCJ's Satisfied       ||: Yes - Individual Merit
    Bankruptcy            ||: No
    Ex Patriates          ||: Yes - Individual Merit
    DSS Payments          ||: No
    Diplomatic Immunity   ||: No
    Debt History          ||: No
    Guarantors            ||: Yes - Parents where an individual ie
                          ||| student can justify the loan at a
                          ||| later date
    Max Age on application||: 65 yrs
    Interview Required    ||: No
    Multiple Applications ||: Max 4 applications - Multiples 3.25
    Secondary Income      ||: Yes

LIFE COVER REQUIREMENTS
    Endowment|: Individually Assessed
    Repayment|: Term Cover only
    Int Only||: Individually Assessed
    Pension|||: Individually Assessed
            ||| 100% Tax Free Cash 10.5% Growth Rate
            ||| Personal and Executive Pensions acceptable

    Most major Life Co's accepted
    Life Insurance is compulsory for all products,but cannot be
    taken out via the bank, have to 


 



  

   

    A one off 50 charged plus a copy of the policy with interest 
    noted if Buildings & Contents Insurance not taken with lender. 
    Minimum Property value 25001

    PURCHASE
    Council RTB - House Max 100% of DPP 75% of OMV
    Self Build

    TENURE
    Freehold House
    Feuhold House / Flat (Scotland)
    Flying Freehold
    Leasehold House / Flat
    Minimum Lease required on application 75 yrs
    Minimum Lease required on redemption  50 yrs

    CONSTRUCTION
    Conventional Brick / Tile
    Steel Framed (Other Cladding - Individually Assessed)
    Timber Framed (Brick Cladding)
    Timber Framed (Other Claddig - Individually Assessed)
    Non Standard Construction (Individually Assessed)

    PROPERTY
    Flat upto 4th Floor (With / Without Lift - Dependent on value
     locality and saleability)
    Flat over 4th Floor (With / Without Lift - Dependent on value
     locality and saleability)

Flats must be leasehold in england and wales. and feudal in 
scotland. The unexpired term of the lease must be 30 years plus the 
the mortgage term. Freehold flats in england and wales are not 
excepted.

Conversions Must have recieved planning consents 
The whole block of flats must be owner-occupied
No share amenities are permitted
Under no circumstances must the flat be a council/housing assoc 
flat. Maximum 90% loan to value, (95% for 100% mortgage product)

Country properties are available, please refer to lender.
  
Thatched and Timbered properties
Maximum loan to value is 90%
Maximum term 25yrs

Good rcommendation by the valuer as to the condition of the 
property and its saleability.
Special buildings insurance arrangements will apply outside of 
the normal block policy scheme with royal and sun

Local Authority Housing-
Refer

Right to Buy
Where a Local Authority or a Housing Association provides a deposit
this can be accepted in lieu of a buyers deposit provided there is 
no clawback clause operating. Rental arrears cases are not eligible 
for indemnity insurance.

Building Insurance

All properties require an appropriate level of building insurance
cover (amount specified by the valuer),to be in place at completion

For freehold properties and leasehold  houses the bank will offer 
to cover upon the block insurance facility.
Clients may arrange their own insurance with a reputable company 
subject to the following.

Leasehold flats and maisonnettes must be covered by landlord 
insurance which must be confirmed to be placed on completion.
The cover must be a fully comprehensive and index policy and the 
banks interest must be noted on policy.
Special arrangement will apply with royal sun alliance in respect
of thatched and timbered properties.



    OTHER
    Back to Back
    Converted Flat
    Ex Council - House
    Part Commercial (Doctors Dentists etc)
    Part Commercial (Shops etc)
    Single Bedroom
    Studio Apartment (Individually Assessed)
    Thatched Roof

Unmodernised properties and those lacking amenites such as running 
Water,Electricity,bathroom or kitchen will not normally be 
considered. Where the property is structually sound and is 
genuinely to be modernised the property may be considered subject 
to a total retention of monies until work have been completed.
 
LOCATION
    England Wales Scotland Scottish Isles & the Isle of Wight


  

   

~    VALUATION         FEE
~   (not exceeding)
~
    The total amount payable includes a non refundable 75 assessment
    fee

    The total amount payable includes a non-refundable 100 
    assessment fee. If more than one property is being financed, 
    the non refundable 100 is paid only one. For example the 
    second valuation fee is 100 for peropty values upto 100K 

    HOMEBUYERS REPORT
    
     Upto 100,000   375
       "  150,000   445
       "  200,000   530
       "  300,000   600
       "  400,000   695
       "  500,000   805
    above 500,000 refer to Lender 
   
    Re-inspection (for staged advances) 60
    Structural Survey & House Buyers Report Fees on request
    Valuation by Panel Valuer refer to lender for further details
 



  

   

|    (Known to Lender as "Risk Amount / Risk Fee")
|   Advance
|   || 25001 - ||125000           0 - 75%    ||Nil
|                               75.01 - 80%    ||5.50% / 1000
|                               80.01 - 85%    ||6.50% / 1000
|                               85.01 - 90%    ||7.50% / 1000
|                               90.01 - 95%    ||9.25% / 1000
|
|   ||125001 - ||175000           0 - 75%    ||Nil
                                75.01 - 80%    ||u5.50% / 1000
|                               80.01 - 85%    ||6.50% / 1000
|                               85.01 - 90%    ||7.50% / 1000

|   Premium can be added over and above 95%
|   Min Premium - 350* (*Plus Insurance Premium Tax, Currently 4%)
|   Indemnity Insurance provided by Royal & Sun Alliance


  

   
                        
    Bridging Finance     ||: No
    Drawdown Facility    ||: Reflex Mortgage - Refer
    Equity Release       ||: No
    Premium Funder       ||: No
    Self Build           ||: Yes
    Group Build          ||: No
    Shared Ownership     ||: No
    Top Ups              ||: No
    Further Advances     ||: Yes
    Split Loans (End/Rep)||: Yes
    Negative Equity      ||: Yes (The Mortgage Works clients only)
    ERP Refund / Waiver  ||: No
    Legal Fees Package   ||: No
    Secured Loans        ||: Yes
    Semi Commercial      ||: Yes
    Second Charges       ||: Yes
    Minimum Term         ||: 10 years
    Maximum Term         ||: 35 years
    Reference Fee        ||: 35 + VAT 
    Questionnaire Fee    ||: 58.75 + VAT 
    Telegraphic Transfer ||: 25
    Lenders Life Tie     ||: N/A

    HOMEMOVER SCHEME
    New scheme aimed at assisting existing clients who find
    themselves in the 'negative equity' trap. The scheme enables
    clients to move to a new property by taking with them their
    existing negative equity. Refer for more details.