Lending Criteria
Our lending criteria bring everything together in one place, making it easy to check what we lend on and how we assess cases.
Loan Requirements
- How much can I borrow on a like-for-like remortgage product?
- Adverse credit: What is the difference between Tier 1 and Tier 2?
- 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
Products
Product transfers
- What cases can apply to a product transfer and when?
- When do we contact borrowers about their product transfer?
- Do you allow further borrowing on a product transfer?
- Do you allow overpayments on a product transfer?
- What is the process for a product transfer with Landbay?
- If I’m not the original broker, can I still do a product transfer for the borrower?
- Who can witness a product transfer?
- Who should I contact regarding product transfer queries?
- Do you allow a submitted product transfer to be cancelled should the client wish to move lender?
- Can a borrower move to a different product while the product transfer is in progress?
- Can a new product start early without incurring an ERC?
- How do you value properties using a product transfer?
- When will a physical valuation be required for a product transfer?
- Do you offer automatic valuations for MUFB product transfers?
- Are the product transfer stress rates based on rental received or the AVM rental figure?
- Are there any fees associated with a product transfer valuation?
- What fees are applicable for a product transfer?
- What documentation do you require for a product transfer?
- Do you list your product transfer range on sourcing systems?
Affordability
Applicants
- 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 adverse credit?
- What information do you need to process a mortgage?
- Do you accept expatriates?
- First-time HMO or MUFB landlords
- Can a broker submit a mortgage application for themselves or a family member?
- Do you accept capital raising?
- Who do you accept Direct Debit Mandates (DDM) from?
- Repeat application requirements
Income
Property Criteria
- What countries do you lend in?
- Do you accept holiday lets?
- 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?
- 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?
- Green mortgage product range criteria
- What is your minimum property size?