Upto £500,000 75% LTV (Rmg 75%)

Upto £600,000 70% LTV (Rmg 70%)

Upto £1,000,000 60% LTV (Rmg 60%)

Mortgage is Portable, Mortgage is Flexible, Under payments allowed., Overpayments allowed.

If you move to another property (‘the new property’), you may transfer all or part of your loan to a mortgage of the new property if the following conditions are satisfied:

you must have had your original mortgage with Mortgage Express for at least six months from completion;

you must have paid the monthly payments due under your original mortgage in full and on time;

the amount transferred must be at least £25,000;

Mortgage Express must be satisfied that the new property gives Mortgage Express adequate security for the amount transferred;

The new mortgage must be a first mortgage of the new property and must be in a form satisfactory to Mortgage Express.

Mortgage Express must be satisfied with the results of any credit reference agency searches Mortgage Express makes about you at the time of the transfer.

If your original mortgage includes conditions:

stating that Mortgage Express will charge interest on the loan (or the part transferred) at a fixed, capped or discounted rate; and/or

requiring you to pay an early repayment charge.

and the period for which those conditions apply has not expired at the time of the transfer, the conditions will continue to apply to the loan (or the part transferred) during the remainder of that period.

If only part of the loan is transferred to the mortgage of the new property, you will have to pay any early repayment charge, which applies to the part, which is not transferred.

If the amount which you wish to borrow under the mortgage of the new property is more than the amount of the loan, you should contact Mortgage Express to see if they are able to provide the additional amount. Mortgage Express can not guarantee that they will be able to lend you the additional amount. Any additional amount which Mortgage Express does lend may be lent on different terms from those which apply to the loan.

If you complete the sale of the original property before you complete the purchase of the new property, you will have to repay the debt in full on completion of the sale of the original property, together with any early repayment charge which applies. Mortgage Express will refund the early repayment charge (or part of which you paid on the part of the loan which is transferred to the mortgage) when you complete the purchase of the new property.

Self Cert Accepted

- Mortgage is NOT for First time buyers

- Mortgage is an EXCLUSIVE product

Mortgage Express require a repayment vehicle to be in place for all Interest Only applications. Acceptable repayment vehicles, which must be for the life of the loan and also include life cover are, Endowment, Pep, ISA, Pension Plan.

Maximum term for repayment mortgages is 25 years, for endowment mortgages is 35 years. For Pension/PEP/ISA and Interest Only a maximum of 45 years.

Mortgage is flexible using Choices. Part/full capital repayments may be liable to Early Repayment Charges. Choices is available on all products; for more information on the specific terms for each product, please contact the Mortgage Express.

Maximum loan for First time buyers £250,000.

Mortgage Express' basic principle for house purchases is that we will lend on the lower of purchase price (less any discounts), or valuation. We reserve the right to decline any types of transaction that are found to contravene this principle at any time before release of funds. In particular:

· we reserve the right to refuse business where the seller has owned the

property for less than six months.

· we will not accept business involving assignable contracts and sub sale

purchases.

· we will refuse business if we believe that connected parties are

attempting to sell properties between themselves at inflated purchase

prices or at undervalue.

Product is not CAT standard.

Payment Holidays Allowed. By making overpayments to the mortgage account you will build up a ‘Choices’ credit balance. If the LTV is less than 90%, you may use the ‘Choices’ credit balance to take a payment Holiday until you have used up the credit balance, no direct debit will be collected (for a maximum of 6 consecutive months), unless Mortgage Express agrees a longer period.

Borrow Back Allowed. By making overpayments to the mortgage account you will build up a ‘Choices’ credit balance. If the LTV is less than 90%, you may use the ‘Choices’ credit balance by obtaining a ‘funds release’, all or part of the Choices credit balance will be sent to you, (up to 2 such releases are permitted in any year).

Under the ‘Choices’ scheme, which applies to the mortgage, you can make regular overpayments as follows:

a) The overpayments must be made with the regular monthly payment and the total amount must be paid by direct debit.

b) Each overpayment must be a sum, which is a multiple of £5.

c) The minimum overpayment is £25 and the maximum is 100% of the monthly payment.

d) Any overpayment that exceeds 100% of the monthly payment would be subject to any applicable early repayment charges detailed in section 10.

Please note.

If the debt is decreased by any overpayment you make, the decrease will not reduce the LTV (and will not result in the interest rate or monthly payment being reduced to reflect a reduction in the LTV) until the next anniversary of the loan release date.

When we review the mortgage account on the next anniversary of the loan release date (as described in Section 4 above), a reduction in the debt which results from any overpayments you have made will be taken into account in determining the interest rate which applies to the debt. We will recalculate the monthly payments based on the interest rate that applies to the debt and, if the loan is made on the repayment basis, the remainder of the mortgage term.

By making overpayments to the mortgage account you will build up a ‘Choices’ credit balance. If the LTV is less than 90%, you may use the ‘Choices’ credit balance to make Underpayments, an amount less than a normal monthly payment will be collected until you have used up the credit balance.

The mortgage is available to a maximum of 75% of the property valuation or purchase price, whichever is lower.

Capital Rest Period : Monthly

Repayment Yes

Endowment Yes

PEP Yes

Pension Yes

Interest only (no RV) Yes

With Profits Yes

Unit Linked Yes

ISA Yes

Split Repayment No

None

Basic:

upto £100,000 - £334

upto £150,000 - £354

upto £200,000 - £384

upto £250,000 - £419

upto £300,000 - £449

upto £350,000 - £474

upto £400,000 - £509

upto £450,000 - £539

upto £500,000 - £569

upto £600,000 - £589

upto £700,000 - £664

upto £800,000 - £774

upto £900,000 - £854

upto £1,000,000 - £899

upto £1,200,000 - £939

upto £1,400,000 - £1079

upto £1,600,000 - £1179

upto £1,800,000 - £1279

upto £2,000,000 - £1379

upto £2,200,000 - £1429

upto £2,400,000 - £1579

upto £2,600,000 - £1729

upto £2,800,000 - £1879

upto £3,000,000 - £2029

upto £3,400,000 - £2429

upto £3,800,000 - £2629

upto £4,200,000 - £2829

upto £4,600,000 - £3029

upto £5,000,000 - £3329

Homebuyers:

upto £100,000 - £509

upto £150,000 - £569

upto £200,000 - £619

upto £250,000 - £684

upto £300,000 - £729

upto £350,000 - £779

upto £400,000 - £824

upto £450,000 - £889

upto £500,000 - £929

upto £600,000 - £1099

upto £700,000 - £1159

upto £800,000 - £1259

upto £900,000 - £1359

upto £1,000,000 - £1459

upto £1,200,000 - £1659

upto £1,400,000 - £1859

upto £1,600,000 - £2059

upto £1,800,000 - £2259

upto £2,000,000 - £2459

upto £2,200,000 - £2659

upto £2,400,000 - £2859

upto £2,600,000 - £3059

upto £2,800,000 - £3259

upto £3,000,000 - £3484

upto £3,400,000 - £3959

upto £3,800,000 - £4234

upto £4,200,000 - £4509

upto £4,600,000 - £4809

upto £5,000,000 - £5209

Min Valuation £30000

IMPORTANT: Please note if a product fee is calculated as a percentage of the loan amount, a minimum product fee of £599 applies.

The valuation fee charged is based on the estimated valuation at the time

of application.

Mortgage Express will no longer accept Valuation Retypes, with the following exceptions:-

Scottish Properties - due to the differing legal systems.

Packaged Applications - to enable the packagers to retain flexibility in their choice of lender.

Where acceptable, a Retype can only be submitted by a Surveyor within 3 months of completing the original Valuation.

Added fees will not be included in this calculation.

Lender Conveyancing Fee - £177.00 Payable on completion. A non-refundable fee paid to your conveyancer before the loan starts. The figure quoted here is an estimate and only based on the work that the conveyancer will do for the Lender, the total fee for conveyancing may be higher. This fee is based on a scale dependant on the loan amount - £15K to

£19,999 (£123), £20K to £24,999 (£130), £25K to £29,999 (£136), £30K to

£59,999 (£140), £60K to £99,999 (£147), £100K plus (£177).

Mortgage Administration Fee - £250.00 Payable on redemption. Payable with the final repayment of the mortgage and will be added to the amount to be repaid. This fee covers the cost to us of the maintenance and general administration of mortgages, excluding arrears and default administration. This fee will only be varied to reflect any changes to our administration costs.

Freehold Flat No

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Yes

Maisonette Yes

Studio Flat Yes

Flying Freehold Yes

Thatched Yes

Timber Framed Yes

Concrete Yes

Agricultural Tie Yes

Flat Over 4 Storeys Yes

Listed Building Yes

Not Accepted

New Build acceptable. Minimum purchase price is £70k for properties within the M25.

Ex-council flats are acceptable. Please refer to Mortgage Express for further details.

Retirement flats/Warden assisted dwellings are unacceptable properties.

Will lend on Adjoining properties

Flat over shop - acceptable, subject to the surveyor’s comments and the nature of the business conducted in the shop.

Agricultural Tie - Acceptable, subject to resaleability and the nature of the restriction (where known). If the land has a negative agricultural restriction and the property is down valued, a maximum LTV of 60% will be imposed.

Flat over 4 storeys - Acceptable, subject to their construction type, location, resaleability and the surveyor’s comments.

Flying Freehold - Generally acceptable providing they relate to less than 25% of the total floor area of the main building of the proposed security.

Listed Buildings - Acceptable, provided there are no onerous restrictions or covenants which materially affect the resaleability and value of the property.

Mortgage Express will only lend on new build flats and maisonettes to maximum LTV of 75%.

Accepted Locations : England, Scotland, Wales, N Ireland

Bank Statements No

At Least 3 Months Pay Slips No

P60 No

Proof Of Residency Yes

Life Policy To Be Assigned No

Previous Lender References Yes

Buildings Conditional

Min Loan £40,000/Rmg £40,000

Max Loan £1,000,000/Rmg £1,000,000

Max Portfolio of BTL Loans none

Min Age 21 years

Max Age 75 years

Min Term 10 years

Max Term 45 years

Foreign Citizens Not Accepted

Ex-Patriates Not Accepted

Based on Income > 1

3.5 + 0 or 2.75 joint

Based on Income > 15001

3.75 + 0 or 3 joint

Based on Income > 30001

4 + 0 or 3.25 joint

Based on Income > 40001

4.25 + 0 or 3.5 joint

Based on Income > 60001

4.5 + 0 or 3.75 joint

Based on Income > 80001

4.75 + 0 or 4 joint

Min months in current position 3

Min months in continuous service 3

Min no. of years accounts 1

Average years taken to calculate income 1

Will consider declining profit Consider

Mortgage Express now take into account secondary income from both the first and second applicants (as long as they are 21 or over). Applicants must have been in any second job for at least 6 months.

INTEREST ONLY - Mortgage Express require a repayment vehicle.

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft NOT Taken into account

Credit/Store Cards Taken into account

Child Maintenance Taken into account

Child Education NOT Taken into account

Extra Income:-

Other Income - Guaranteed Add 100% to income before multiply

Other Income - Regular Add 100% to income before multiply

Other Income - Irregular Add 100% to income before multiply

Investment Income Add 100% to income before multiply

Mortgage Subsidy Add 100% to income before multiply

Large Town Allowance Add 100% to income before multiply

Maintenance Payments No

Non Contributory Pension Add 100% to income before multiply

Car Allowance Add 100% to income before multiply

Capital Raising 75%

Home Improvements 75%

Debt Consolidation 75%

School Fees 75%

Holidays/Cars 75%

Buy Other Property 75%

Business Purposes 75%

Divorce Settlement 75%

Unencumbered 75%

Capital raising remortgages are available up to 90% LTV, for any legal purpose - (unless the product maximum LTV is restricted to less than 90%).

Loan to Value 90% - 95% - for specific purposes including debt consolidation, except credit/store card debt, overdraft, liquidity injection (eg injection of new capital into ailing business) bankruptcy or

repaying gambling debts'

Mortgage Express no longer accept any remortgage business where the borrower has owned the mortgaged property for less than 6 months.

CCJs : Acceptable, max number 1, must be satisfied for at least 12 months

Defaults : Acceptable, must be satisfied

Arrears : Acceptable, max months 1

must be satisfied for at least 12 months

Bankrupt : Acceptable, min months Discharged 72

Current IVA : Acceptable

Repossession : Not Acceptable

All applicants are subject to credit scoring.

Bankruptcy & IVAs - 60% LTV or less - Acceptable, providing the item was registered 6 or more years ago and is now discharged. Above 60% LTV - All applicants that have been declared bankrupt or have an IVA will be declined.

- Applicants with defaults will be considered depending on credit score.

- Will judge customers with previous or existing adverse credit in a flexible manner and every case will be judged on its individual merits, along with the customer's ability to keep up repayments on the mortgage, taking into account his/her existing liabilities.

- Will consider cases of financial difficulty and mortgage arrears sympathetically.

- The Lender follows the general principles of the Council of Mortgage Lenders' Statement of Practice on Handling Arrears and Possessions, including :

- a) with your co-operation, developing a plan with you for dealing with your financial difficulties and clearing the arrears, consistent with both your interests and those of the Lender.

- b) possession of your property will be sought only as a last resort when attempts to reach alternative arrangements with you have been unsuccessful.