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Knowledge base

Lending Criteria

Lending Criteria

Full details on our lending criteria

Loan Requirements

How much can I borrow on a like-for-like remortgage product?

For a like-for-like remortgage, what documents will I need to provide to evidence the balance?

On a like-for-like remortgage, can I add the product fee to the loan?

What is your minimum loan size?

What is your maximum loan size?

What is the minimum Property Value?

What kind of loans are available?

What is the maximum mortgage term?

What is the minimum mortgage term?

What is your minimum LTV?

What is your maximum LTV?

Deposits

Do you accept family gifted deposits?

Is your lending based on the purchase price or valuation?

What is your repayment type?

Do you provide remortgages?

Borrower exposure

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Special Edition additional criteria

Product-specific non-portfolio landlord criteria

Affordability

How do you stress test tracker products?

What is your minimum ICR?

What are the rules for your ICRs?

What are your maximum LTVs and ICRs?

How much can I borrow?

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Applicants

First-time HMO or MUFB landlords

Who do you accept Direct Debit Mandates (DDM) from?

Repeat application requirements

Do you accept capital raising?

Maximum applicants

Do you lend to First Time Landlords?

First-time buyer first-time landlord

Who can borrow from Landbay?

What are the applicant requirements?

What are your borrower/applicant exclusions?

Which credit check status do you use?

Do you consider any adverse credit?

What information do you need to process a mortgage?

Do you accept expatriates?

Can a broker submit their own mortgage application?

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Income

What is the minimum income required?

What is the minimum income for a first-time buyer?

What documentation is required to confirm employment and self-employment?

What is the minimum employment duration?

What is acceptable and unacceptable income sources?

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Property Criteria

What is your minimum property size?

Green mortgage product range criteria

Do you have a restriction on the number of floors in a block of flats?

Which providers do you accept a new build warranty from?

What countries do you lend in?

What kind of property tenure is acceptable?

What is the maximum property exposure?

What types of properties are acceptable?

Does the property have to be ready to rent?

Do you accept MUFBs & HMOs?

Do you accept properties above or adjacent to commercial properties?

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Property Exclusions

What properties do you exclude?

Properties that have benefited from a Rental Guarantee incentive

Acceptable Tenancies

What kind of tenancy is acceptable?

Unacceptable Tenancies

What type of tenancies do you not accept?

Can I get an owner-occupier mortgage with Landbay?

Valuations

How do I cancel a valuation, late cancellation fees or failed property access?

How do your valuations work?

Can I supply a valuation report with my application?

AVM product criteria for automated property valuation

Valuation retentions

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Limited Company & LLP

Do you lend to trading limited companies?

Do you lend to limited companies?

What is your limited company portfolio criteria?

Limited company non-portfolio landlord criteria

Are Personal Guarantees needed for company applications?

What are the requirements for inter-company loans?

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Mortgage Exclusions

What are your mortgage exclusions?

Do you consider lending on Shared Ownership, Help to Buy or Right to Buy schemes?

Will you consider second charge lending?

Can I get a bridging or development loan from Landbay?

Will you do refurbishment loans?

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Legals

Expired offers or changing products after an offer is made

Do you require a first legal charge on the property?

Where can I find your solicitor panel?

Can you recommend a solicitor firm?

What type of solicitor representation is acceptable?

Can I change solicitor post-offer?

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Insurance

Do you offer Title Indemnity Insurance?

Buildings insurance

LIBOR & BBR

Do you use Bank Base Rate (BBR)?

What are your reversion rates?

What is LIBOR (London Interbank Offered Rate)?

Service and SLAs

How can I apply?

What are your SLAs?

Who manages my mortgage?

How can I contact your lending team?

When will the cashback be paid?

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Glossary

What is an ERC?

Products

Rate eligibility period

What happens if you withdraw products?

Like-for-like remortgages

Product transfers

How far from maturity do you contact the client informing them of their product transfer?

Do you allow a submitted product transfer to be cancelled should the client wish to move lender?

Can a client move to a different Landbay product while the product transfer is in progress?

Would you allow the new product to start early without incurring an ERC?

Who should I contact regarding product transfer queries?

Are there any fees associated with a product transfer valuation?

Who can witness a product transfer?

Are the product transfer stress rates based upon rental recieved or rental on AVM ?

What documentation do you require for a product transfer?

Do you offer automatic valuation for MUFB?

What fees are applicable for a product transfer?

When will a physical valuation be required for a product transfer?

Do you list your product transfer range on sourcing systems?

If I’m not the original broker, can I still do a product transfer for the borrower?

What cases can apply to a product transfer and when?

What is the process for a product transfer with Landbay?

How do you value properties using a product transfer?

Do you allow further borrowing on a product transfer?

Do you allow overpayments on a product transfer?

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Supporting vulnerable customers

How do you support vulnerable customers?