Employed  |: Employers Ref plus either P60 or payslips (min 
              || employment period 6 months)
    Self Emp  |: 3 years audited accounts (income based on 
              || average)
    FTB       |: As above + 3 mths Bank Statements
    RTB       |: As above plus details of the Local
              || Authority discount and rent reference
    All       |: Existing Lenders Reference OR last 3 years
              || statements
              || Landlords Reference
              || Proof of Identity
              || Other Lenders References
              || Credit Reference (Equifax) 
              || Valuation Report
              
    Acceptable types of Identification
    Birth/Marriage Certificate / Passport / Driving Licence


  

   

    Remortgages are available on the relevant scheme with no rate 
    loading
    
    Up to 90% LTV
    Existing house purchase, improvements debt, equity purchase,
    New home improvement.

    Up to 80% LTV
    Any element of new or existing capital raising. Enhanced 
    income multiples will not be available where there is any
    element of new or existing capital raising i.e maximum 
    income multiples 3 x main plus 1 x secondary or 2.5 joint
    plus 1 x secondary 

    Acceptable Purposes 
    Home Improvements
    Marital Settlement
    Re-Finance (replace existing loan - 80%)
    Self Build Home
    Education Fees (Capital Raising)
    Holiday (Capital Raising)
    Holiday Home (Capital Raising)
    Investment (Capital Raising)
    Property to Let (Capital Raising)
    Purchase car, boat, caravan etc (Capital Raising)
    Second Home (Capital Raising)
    Medical Expenses (Capital Raising)
    Working Capital (Capital Raising)
    Debt Consolidation (Capital Raising) Providing not in arrears



  

   

    UK Tax Payers         ||: Compulsory - Minimum 2 years
    Arrears Settled       ||: Yes - Cleared & Satisfied Explanation
    Arrears Oustanding    ||: No
    CCJ'S Satisfied       ||: Yes - 1 no more than 1000 max 80% 
                          ||| LTV with satisfactory explanation
    CCJ'S Outstanding     ||: No
    Defaults              ||: Defaults over 500 unacceptable. 
    Bankruptcy            ||: No
    Ex Patriates          ||: Refer
    DSS Payments          ||: No
    Diplomatic Immunity   ||: No
    Debt History          ||: No
    Guarantors            ||: Yes - Max 95%. Must be spouse or 
                          ||| blood relative. Income to cover both 
                          ||| commitments
    Max age on application||: N/A
    Interview Required    ||: Only if practicable
    Multiple Applications ||: No
    Secondary Income      ||: Yes
    E.C. Nationals        ||: Resident in UK and UK Tax Payer for a
                          ||| minimum of 2 years.Source of Income 
                          ||| must be UK based
    Foreign Nationals     ||: Refer

  

    Minimum residency in the UK is 2 years
    Part Time Earnings, Investment Earnings and Rental Income 
    treated as a secondary income

    LIFE COVER REQUIREMENTS
    Endowment|: Will accept most policies, as from 3/7/00  
             || no assignment will take place
    Repayment|: None required
    Int Only |: None required
    PEP      |: Term Assurance assigned, max growth rate 9.5%
    Pension  |: 80% tax free cash at 12% growth rate
             || Personal & Executive considered - assignable level
             || term assurance required - Refer
             || Minimum age 25 years

    Most major Life Co's accepted


  

   

    
    Minimum property value 30000 

    PURCHASE
    Council RTB House / Flat(Refer)
    Property to Let (Owner use included)
    Second / Holiday Home (max 70%)

    RTB - 100% DPP, max OMV 75%

    TENURE
    Freehold House
    Flying Freehold (Refer)
    Agriculturally Restricted -Acceptable subject to max LTV 70%.Solicitor
    confirming tie/restriction will not unduly affect societys security.
    Leasehold House / Flat
    Minimum leasehold on properties - 70 Years 
    Small Holdings-Acceptable subject to being residential use only even if
    commercial part is not part of societys security.

    CONSTRUCTION
    Conventional Brick / Tile
    Concrete (Precast / Prefabricated - Refer)
    Timber Framed (Brick / Other Cladding)
    Non Standard Construction (Refer)

    PROPERTY
    Flat upto 4th floor (with / without lift)
    Maisonette/1 bed flat-Given same classification as converted flats-max 
    90% LTV and minimum values.
    Flats Minimum Values-Greater London = 200,000.Rest Of UK = 80000.

    OTHER
    Ex Council Flat (refer to lender)
    More than one kitchen (Granny Annexe)
    No NHBC or other certificate on properties 10 year old or
    less (Refer)
    Part Commercial (Doctors Dentists Shop etc) - Max 70%
    Single Bedroom
    Thatched Roof - Refer

    LOCATION
    England, Scotland and Wales


  

   

     Free copy of the valuation report to all home movers and 
     first time buyers.
   
     Housebuyers Survey & Valuation

     PROPERTY        FEE
     VALUE        (inc VAT)
     Not exceeding
      75000       290.00
     100000       340.00
     150000       390.00
     200000       460.00
     250000       510.00
     300000       565.00
     300000 +     Refer

    Above fees include 30 admin charge
    Structural Survey Fees on request
    Re-inspection Fee- 80 upto 250,001, 125 over 250,001.
(this applies to Further Advances)
    Lender operates panel in Branch catchment areas - no sole
    practitioners


  

   

|   90.01 - 95%     ||8.85% / 1000

|   Min Premium 200
|   Premium can be added to the account regardless of the LTV
|   Indemnity Insurers are Royal Sun Alliance Insurance
|   IPT not applicable


  

   

    Bridging Finance       ||: No
    Drawdown Facility      ||: Yes
    Equity Release         ||: No
    Premium Funder         ||: No
    Self Build             ||: No
    Group Build            ||: No
    Shared Ownership       ||: No (Refer)
    Top Ups                ||: No
    Further Advances       ||: Yes - Refer to lender for products 
                           ||| available
    Payment Protection     ||: Yes
    Split Loans (End/Rep)  ||: Yes
    Negative Equity        ||: Existing Borrowers only
    ERP Refund /Waiver     ||: No
    Legal Fees Package     ||: Refer to Lender 
    Secured Loans          ||: Yes
    Semi / Full Commercial ||: Yes
    Second Charges         ||: Will only except first charge over 
                           ||: a property
    Minimum Term           ||: 5 years
    Maximum Term           ||: 30 years
    Reference Fee          ||: 45 inc VAT
    Questionnaire Fee      ||: 55 inc VAT
    Telegraphic Transfer   ||: Nil
    Lenders Life Tie       ||: Norwich Union
    Maximum Loans          ||: Above 250000 must be agreed
                           ||| by Mortgage Manager
    Minimum Loans          ||: Loans below 25,000 which are
                           ||| 75% LTV or less are considered
                           ||| at the discretion of Mortgage
                           ||| Manager 

    INCOME
    With immediate effect 5% of outstanding Credit/Store Card 
    balances should be deducted from income, before calculating how 
    much an applicant can borrow. If the applicant(s) can 
    demonstrate that Credit/Store Card balances are repaid monthly 
    then this can be ignored

    FIRST TIME BUYER CRITERIA
    Minimum Main Income 10,000
    Minimum age of all applicants 21 years
    Applicants must not have incurred any CCJ's at any time
    Minimum Advance 30,000

    In joint cases where only one applicant is a first time buyer, 
    the criteria will apply to this borrower where their income is 
    treated as main income

    PORTABILITY - All Products Fully Portable
    If a larger loan was taken the existing loan could be carried 
    over, if the loan was smaller each case would be looked at on 
    individual merit

    FURTHER ADVANCES FOR HOME IMPROVEMENTS
    Max LTV for Home Improvements will be increased to 95% 
    Where new business with a further advance for Home Improvemants
    takes the total borrowing above 90% LTV the borrower will be 
    required to pay a Loan Percentage Charge. 

    ADDITIONAL FEES
    A Change of Property fee (prior to completion after offer) of 
    150 has been introduced to cover costs incurred by the society 
    under these circumstances. This fee relates to borrowers that 
    have had an offer on a property and then decided (for any 
    reason) to buy a different product 

    A non-refundable administration fee of 50 will be applied to 
    all additional laon applications, with a further 40 Land 
    Registry Fee being charged on capital raising loans under 25,001. 

    PROOF OF DEPOSIT-This will now be required where the following
    circumstances apply,
    A) First Time Buyers where the deposit is equal to or greater than
       10%.
    B) Home movers where the deposit is greater than or equal to 10%
       and the source is not obvious from the application eg equity.
    C) Buy To Let will need to supply proof of deposit on all applications.

    The documentary proof should clearly state the source of deposit,eg
    if savings a copy of the statement is required showing the regular
    deposits.
    
     Buy To Let-Multiple occupancy to be classed as more than 2 unrelated
     occupants.Additional funds only allowed for improving the property.

     Shared Ownership- Standard income multiples apply.

     Mortgages InTo Retirement-Where the term of the mortgage takes the 
     applicant beyond normal retirement age,the applicant must confirm 
     they will be able to continue making payments or have sufficient 
     resources to repay the mortgage once they retire.Proof should be
     obtained in the form of pension statements for income or some form of
     projections for investments that will be used to repay the mortgage.