Applications Over 80% LTV

Unless otherwise indicated a higher lending charge (HLC) is normally applied to mortgages over 80% LTV. The following rates apply:


Charge per £100 of loan amount in excess of 80%

Over 80% up to 85%


Over 85% up to 90%


Over 90% up to 95%


The HLC can be added to the mortgage subject to the total loan, including fees not exceeding 95% LTV.

To qualify for MIG the application must fit the Society’s Lending Policy and also meet the following specific requirements:

  1. The maximum mortgage is 4 x prime income plus 1 x 2nd borrower’s income or 3 x joint incomes.
  2. The Society is required to obtain employer’s references including a previous employer’s reference if the applicant has been in the current employment for less than 6 months.
  3. If an existing mortgage cannot be verified by the credit check the Society is required to obtain bank/mortgage statements, covering a full 12 month period prior to application, or a lender’s reference.
  4. Where the applicants are living in rented accommodation the Society is required to obtain bank/rental statements, covering a full 12 month period prior to application.



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