Lending Criteria

Loan to value/acceptable securities (for Commercial products)

65% OMV (Open Market Value)

  • Pub (applicants must be actively involved in running)
  • Restaurants
  • Farm

70% OMV

  • Hotel/Guest House

75% OMV

  • Residential Investment (no DSS)
  • Holiday flats/Cottages
  • Residential Care/Nursing Home
  • Commercial Investment Properties
  • Professional Offices
  • Shops with living accommodation/offices above (no lock-ups - except to first class covenant and/or shop in primary position)
  • Post Office
  • Light Industrial Unit (B1 usage)
  • Offices (non-professional)
  • Guest House (10 letting rooms or less)
  • Surgeries - Dentist/Doctor/Vet

Acceptable borrowing entities

Offshore Limited Companies

  • minimum loan £250,001
  • Society's solicitors must be utilised
  • Directors must be UK citizens
  • may incur additional legal fees

Small Self Administered Pension Scheme (SSAS)

  • minimum loan £250,001
  • can lend up to 75% OMV
  • borrowing must be within Pension fund rule

Unacceptable securities

  • Start up business (minimum three years' accounts required)
  • School
  • Building Development
  • Outdoor Centre
  • Social Club
  • Nightclub
  • Land only
  • Warehouse (old mill type building)
  • DSS lets
  • Petrol station (contamination)
  • Cinema
  • Car Showroom
  • Church
  • Ex Local Authority, high rise, concrete block flats
  • Living attendance is more than 40% or more of property, where the loan is regulated