Minimum Property Standards

Condition

• Check the property is in reasonable condition and currently fit for letting. Use websites (such as Rightmove or Zoopla), or ask the Landlord for photographs.
• It must be well maintained, with working fixtures and fittings, a full and functioning heating system, and no significant disrepair.
• Any repair works required should be minimal. The property must meet the Decent Homes Standard (opens in a new window) and be lettable in its present state.
• We don't accept properties which require significant maintenance or renovation.

Location

• We won't accept properties in areas without sufficient rental demand, including those where proximity to commercial or adverse uses could result in noise, smell, or other disturbances likely to impact demand and marketability, such as industrial premises, fast food outlets, or A3 uses (public houses, restaurants, bars, cafes and businesses with extended operating hours).
• We also won't accept properties in areas affected by dereliction, external disrepair, or vandalism.
• Check the property and location using online maps (for example Google Maps) to understand whether it is in an acceptable location, including checking aerial and street views.

Licensing

• Where applicable, the property must have the appropriate licence. Check the local authority website to see whether the property is in an area where its intended use (i.e. single family let or sharers) requires a licence, and ensure that one is in place at the time of the application.

Alterations

• Where applicable, the property must have the relevant approvals. If the property has been altered or extended, ensure the work has been completed in compliance with any necessary statutory approvals, including conversions of basements and lofts, and that documented proof is available at the time of application.

Value

• Homes must be in an area with good and sustainable demand. There must be evidence of similar properties in the area achieving the declared sales and rental values.
• For remortgage cases, you can use online portals such as Zoopla or Rightmove to verify the customer's estimated capital and rental values. This will help ensure they're realistic and reduce the chance of a "down-valuation".

Occupation

If the property is let to sharers, make sure:

• there are no more than 4 sharers when applying for a standard The Mortgage Works product. Properties with more than 4 sharers must be applied for as a House in Multiple Occupation (HMO).
• the property has a communal living space. A large open-plan kitchen or living room is acceptable if it is big enough to meet reasonable occupant needs.