Guarantor Mortgages
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*Maximum LTV.
- All arrangement fees may be added to the loan (with the exception of any up front, non refundable, booking fee).
- Interest will be charged.
- Minimum % arrangement fee £595
Full Liability
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The Guarantor(s) is liable for the entire debt (as defined in the Mortgage Conditions), should the borrower default on their mortgage payments.
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Guarantor(s) agrees unconditionally to undertake payment, on demand, of any sum under the Mortgage or Mortgage Conditions (together with interest thereon) whenever the Borrower defaults.
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Applicants remain fully liable for the entire debt in the first instance.
Limited Liability
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The Guarantor's liability is limited to the Borrower's shortfall (up to a maximum of 30%) expressed as a fixed % of the debt (as defined in the Mortgage Conditions), plus a further 10% of the debt, should the Borrower default on their mortgage payments.
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Guarantor(s) agrees unconditionally to undertake payment, on demand, of any sum under the Mortgage or Mortgage Conditions (together with interest thereon) whenever the Borrower defaults, which amount will not exceed the Guarantor's liability.
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Applicants remain fully liable for the entire debt in the first instance.
Other Information
- All products available as repayment only.
- 20% capital repayment per annum without paying an Early Repayment Charge.
- Where fees are added to the loan, interest will be charged.
- Interest charged monthly.
- Paper based applications only.
Minimum loan for new business is £25,001. The minimum property value is £50,000. (Unless otherwise stated).
Loan To Value Limits (purchase or remortgage)
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85% for loans up to £500,000 (unless otherwise stated)
Foreign Nationals
All applicants must be resident in the UK. Foreign nationals must have been resident in the UK for at least 2 years and must apply on an owner occupier basis. They must have a permanent right to reside in the UK and have their salary paid into a UK bank account.
Applicants with an immediate previous address abroad in the last 2 years are not accepted.
