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- Up to 80% LTV
- Minimum loan £50,000
- No maximum loan amount
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- Porting not available
- Repayment terms available
- Interest-only terms available
Acceptable credit profile
| CCJs | Defaults | Secured arrears | Unsecured arrears |
|---|---|---|---|
| 0 in 36* | 0 in 36* | 0 in 12 | Not counted** |
*These are acceptable where one of the following applies:
- Where all CCJs/defaults were registered more than three years ago and satisfied prior to mortgage application
- Where all CCJs/defaults were satisfied more than 12 months prior to application regardless of date of registration
- Where the CCJs/defaults in aggregate amount to less than £300, regardless of date of registration, and satisfied prior to mortgage application
**Whilst unsecured arrears are not counted, we reserve the right to consider on a case-by-case basis as part of the full underwrite.
Exclusions
The following exclusions apply:
- No income supported buy to lets
- No holiday lets
Physical valuations
A physical valuation will be sourced from Connells via the standard process.
Connells has issued prescriptive guidance to follow around inspection protocols, which you can find here.
If this guidance isn’t adhered to (e.g., the property is occupied or doors have been left closed), the surveyor may not go ahead with the valuation but will still charge the valuation fee for the on-site visit.
The products and/or services featured above are not regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Terms and conditions
Application fee £145 payable at time of application. This is to cover assessing and processing the application (even if the application is unsuccessful or is withdrawn). CHAPS fee deducted from loan. Please note that applications will not be processed until this fee is received.
The mortgage will revert to a rate of interest which will be at a variable rate above the Bank of England Base Rate (“BBR”) for the remainder of the loan. The rate will move up and down in line with BBR but if BBR falls below 0.00% the rate the customer is charged won’t change. Please refer to individual products for details on the rates applicable.
If your client makes any lump sum payments or repays the loan within a special deal period, an early repayment charge may be payable. Please refer to the early repayment charge section of the table for details. Payments up to a maximum of £499 per month can be made without incurring an early repayment charge.
A list of our fees and charges accompanies all Key Facts Illustrations (KFI).
Monthly interest - If your main mortgage account was taken on a monthly interest basis, then your Further Advance account will also incur interest monthly. Interest is added to the mortgage account for the period from the date the loan was made until the last day of that month. Thereafter, interest is charged monthly on the balance outstanding at the end of the last month. Your Mortgage Offer will have clarified any specific conditions in relation to how interest is charged. Payments in excess of the required monthly payment will have the effect of reducing the balance outstanding and the amount of interest to be paid.
Daily interest - If your main mortgage account was taken on a daily interest basis, then your Further Advance account will also incur interest daily. Interest is calculated daily on the sum outstanding at the end of the preceding day. Your Mortgage Offer will have clarified any specific conditions in relation to how interest is charged. Payments in excess of the required monthly payment will have the effect of reducing the balance outstanding and the amount of interest to be paid.
All mortgage products are subject to availability of funds and can be withdrawn at any time.
For interest only or part repayment/part interest only, it's your client's responsibility to ensure they have sufficient funds available at the end of the term with which to repay the loan.
All loans are subject to availability, status, valuation and approval, and are available in England and Wales only. Applicants must be aged 18 or over. Maximum age at the end of the mortgage term is 85. Written quotations are available on request.
OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number 530504).
Download the full mortgage terms and conditions.
YOUR CLIENT'S HOME MAY BE REPOSSESSED IF THEY DO NOT KEEP UP REPAYMENTS ON THEIR MORTGAGE