1st Source Pr-SPML - List Of Banks .info

Contact Details

   

1st Source Processing
(SOUTHERN PACIFIC MORTGAGES LIMITED)
PO Box 141
Deeside
CH5 3YJ

Tel : 0845 330 4158

Fax : 0845 330 4159

ACCEPTABLE INTRODUCERS
    1st Source Only

SERVICE/PROC PAYMENTS
    See MISC

BROKER PACKAGING REQUIREMENTS
    Fully packaged i.e References, Valuations & credit searches but 
    only from SPML approved agencies

SOLICITORS
    2 Partner firms as long as title indemnity fee charged
    SPML panel solicitor to be appointed to act from SPML on all 
    regulated lending

References

   
  
    Employed |: P60 and Payslips OR employers reference
    Self Emp |: 1 year accounts & accountants statement
    All      |: Valuation             
             || Reference/Statements showing last 12 mths payments 
             || made and due

    CAIS, can be used as a mortgage reference, if the update is within
    1 month of receipt of application and shows all payments within the
    last 12 months.

Remortgages

   

    Any purpose upto 90%

Applicants

   

    UK Tax Payers       ||: Yes
    Arrears Outstanding ||: Yes
    Arrears Settled     ||: Yes
    CCJ's Outstanding   ||: Yes 
    CCJ's Settled       ||: Yes
    Bankruptcy          ||: Yes
    Ex Patriates        ||: Yes
    Guarantors          ||: No
    Debt History        ||: Yes
    Diplomatic Immunity ||: No
    Min Employment      ||: 3 mths
    Min trading period  ||: Self Cert 1 year
                        ||| Status 1 year

  
  Proof of residency to be confirmed at time of application and 12 
  Months prior to application date, If not showing on voters roll 
  In the last 12 months.  
  
    LIFE COVER REQUIREMENTS
    100% of advance to be assigned

    Most major Life Companies acceptable

Property Information

   

     50 fee if lenders buildings insurance not taken
     or Freehold Properties

    PURCHASE
    Main Residence Flat/House
    Second Home Flat/House
    Home for Dependent Flat/House
    
   
    TENURE
    Freehold House
    Leasehold Flat/House
    Feuhold Flat/House

    CONSTRUCTION
    Conventional Flat/House
    Brick on Wood Flat/House
    Thatched House

    PROPERTY
    Garden floor flat
    Ground Floor flat
    1-3 floor flat
    4-6 floor flat

    OTHER
    One bedroom Flat/House
    2-6 Bedroom Flat/House
    7 plus bedroom Flat/House
    Ex Council House
    NHBC required if property less than 10 years old

LOCATION
    England, Isle of Wight, Wales, Scotland and Northern Ireland

Survey Fees

   


~   Valuation                      
~   Purchase Price         Fee 
~

    70 upfront Rental Assessment fee is charged on all Buy to Let cases

Higher Lending Charge

   

     5% of difference between advance and 70% of lower of valuation 
     or purchase price

     Minimum Premium 1.00
     Premium is deducted

Miscellanious

   

    Bridging Finance    ||: No
    Drawdown Facility   ||: No
    Equity Release      ||: Yes
    Top Ups             ||: No
    Further Advances    ||: Yes
    Maximum Term        ||: 35 years
    Minimum Term        ||: 5 years
    Telegraphic Transfer||: 40

    3% of credit card balance used to calculate monthly payment when
    assessing outgoings.

    Southern Pacific 	
    Standard BELOW 35K 500 (No min, no max)

    Standard, Large Loan and BTL ABOVE 35K
    Upto 75%	1.50%	750	7,500
    75 - 85%	1.25%	750	7,500
    85 - 90%	1.00%	750	7,500
    90 - 95%	0.85%	750	7,500
    Prime	0.50%	No min	No max
    RTB		1.25%	500	No max
    Regulated	2.25%	No min	No max
    N. Ireland	1.00%	No min	No max

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