Decision In Principle, Product and Criteria change Friday 27 June
On 27 June 2025 we will be launching our new Access product range. This will include some changes to criteria for these specific products, as well as a change to our Decision In Principle (DIP) process, please see below.
Product Changes
New product codes issued for Access products, with end dates to the end of October. Products and rates may change or be withdrawn at short notice subject to demand.
New Access Products
We are introducing a new Access product, these will have their own distinct product codes, which will include ‘AC’ (Example 2X3691ACT6).
The Access range provides residential mortgages to applicants who meet the following criteria.
- Maximum loan size is £1,000,000
- Maximum LTV is 85% for purchase and remortgage only (replacing the existing mortgage £ for £). For all other loan purposes the maximum LTV is 80%
- Interest only maximum LTV is 65%. This can be increased to 75% LTV where the extra borrowing over 65% LTV is on a repayment basis
- CCJs are acceptable when over 36 months old. If less than or equal to 36 months old, the total value of CCJs must be <= £300. There is no distinction between satisfied and unsatisfied CCJs
- Defaults are acceptable when over 36 months old. If less than or equal to 36 months old the total value of defaults must be <=£1,000. There is no distinction between satisfied and unsatisfied defaults
- Maximum number of defaults is 5 (satisfied or unsatisfied)
- No missed payments in the last 6 months
- Bankruptcy or Sequestration discharged more than 3 years ago will be considered
- Individual Voluntary Arrangement (IVA) or a Trust Deed (TD) which ended more than 3 years ago will be considered
- Applicants deemed to have high indebtedness will be declined
All other criteria remains unchanged. The time since CCJ/Default/Bankruptcy/IVA occurred is based on when the credit search is completed
Decision In Principle
From Friday 27 June we are moving the point you select a mortgage product to the end of our Decision In Principle. When the Decision In Principle has been completed, and eligibility has been assessed, you will be presented with the product selection screen. The products that are presented will be based on the criteria your client meets. This will either be our Core products or our new Access product range.