• This product is designed for applicants who wish to facilitate a purchase before their existing home is sold, other similar scenarios considered but not where development finance or commercial lending would be more appropriate
• Available for mortgages that will be repaid within 2 years, the maximum term is therefore 2 years.  The product is ERC free.
• If interest only is required, a satisfactory repayment strategy must be in place. For short-term lending products sale of property may be an acceptable strategy. Please refer to the “Repayments Types” criteria for further information on acceptable repayment strategies.
• The Society’s standard lending criteria will apply including a full affordability assessment.
• Short-term lending products are standard mortgage products. Monthly repayments will be required throughout the term of the mortgage - interest will not be rolled up. Repayments are available on the capital and interest repayment basis or interest only subject to an acceptable repayment strategy (see above).
• Maximum LTV is 60% - cross charging may be an option, speak to a BDM about this
• Affordability must be proven taking into account all household expenditure and 2 households if applicable.

Still got questions?  Contact your BDM - or view our full criteria.