Packaging and mortgage lending policy update

From 5 October 2016 we're making changes to our packaging and mortgage lending policy.

Maintenance income bank statement requirements

  • You'll only need to provide your clients latest three months' bank statements, instead of the latest six months we've previously requested
  • You'll need to continue to provide a court order, CSA Assessment letter or written private agreement

Lending policy changes

  • We'll no longer be able to accept all or part of a customer's deposit being gifted from a non-UK company
  • Builder cashbacks are acceptable on Shared Ownership applications, subject to the current builder cashback rules

Please note, we don't accept builder cashbacks on Equity Share applications.

Pipeline cases

Our new policy changes apply to all cases currently in the pipeline.