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Up to £500,000 75% LTV

Up to 95% (professionals)

Professionals are defined as fully qualified, registered and practicing: accountants, barristers, solicitors, trainee solicitors, dentists, doctors, vets, teachers, optometrists, pharmacists

Mortgage is Portable, Mortgage is Flexible, Under payments allowed., 10% Overpayments allowed per year.

All Scottish Widows Bank's rates are portable apart from discounted rates which can be re-negotiated. If you move house and port rates during the period in which Early Repayment Charges apply Scottish Widows Bank will refund these charges, however, a proportion of the Early Repayment Charges will be payable if a lower loan amount is required for the new property. The loan on your new house will be subject to our normal lending criteria.

For split loans the term on the interest only and repayment element must be the same.

This product has a mortgage Reserve Account option. Features are: subject to maximum LTV of product; electronic funds transfer - minimum £100; minimum facility - £5k; maximum facility normally £50k; regular payments available. Funds available from day mortgage completes. No repayment programme is required on the Mortgage Reserve Account until the limit is reached. Interest will accrue until then.

Product is not CAT standard.

Payment Holidays Allowed. You may apply to Scottish Widows Bank for agreement to reduce or suspend your monthly payments for a time, provided your mortgage account has been well maintained for at least 12 months and you have a Mortgage Reserve Account in place. The reduced or suspended payments will be met from the Mortgage Reserve Account and interest will be charged on this account at Scottish Widows Bank’s Standard Variable Rate.

Contribution towards valuation fees on completion of the mortgage, Scottish Widows Bank will refund up to a maximum of £250 to you in respect of the property valuation.

One overpayment per mortgage year of up to 10% of the outstanding loan balance may be made without penalty. Once the overpayment has cleared it will reduce the amount of interest you will be charged. Any further overpayments during that mortgage year will be subject to an early repayment charge (please refer to section 10). Following the expiry of your fixed rate, there are no restrictions on making overpayments to this loan.

See Payment Holidays.

This mortgage includes a facility for additional secured borrowing. Mortgage Reserve Account - Subject to Scottish Widows Bank’s lending criteria you can also apply for a Mortgage Reserve Account. This is an additional drawdown facility which allows you to withdraw and deposit funds within a pre-agreed limit, up to the lower of (maximum product LTV) of the property purchase price or valuation (whichever is the lower) less the loan amount in section 3. Refer to product brochure for further details.

THIS WILL INCREASE THE AMOUNT OF BORROWING SECURED ON YOUR HOME.

Let to Buy : Accepted

Capital Rest Period : Daily

Repayment Yes

Endowment Yes

PEP Yes

Pension Yes

Interest only (no RV) Yes

With Profits Yes

Unit Linked Yes

ISA Yes

Split Repayment Yes

None

Basic:

upto £75,000 - £115

upto £150,000 - £175

upto £250,000 - £225

upto £350,000 - £280

upto £450,000 - £325

upto £500,000 - £385

upto £600,000 - £465

upto £700,000 - £550

upto £800,000 - £610

upto £900,000 - £690

upto £1,000,000 - £795

Homebuyers:

upto £75,000 - £250

upto £150,000 - £350

upto £250,000 - £450

upto £350,000 - £550

upto £450,000 - £650

upto £500,000 - £705

upto £600,000 - £785

upto £700,000 - £890

upto £800,000 - £960

upto £900,000 - £1100

upto £1,000,000 - £1250

Valuation fee refunded on completion (up to cost of £250)-on all residential mortgages.

Valuation Fee

Once we have instructed the surveyor to carry out a valuation report they will contact you to arrange payment of any applicable fee before arranging a date to visit the property'

Applicant has the option of adding the Arrangement/Booking Fee to the loan or paying post completion.

Added fees will not be included in this calculation.

Lender Conveyancing Fee - £175.00 Payable on completion. Fee payable to Scottish Widows Bank's solicitor for acting on the Bank's behalf in connection with the mortgage.

Transfer of Funds Fee - £25.00 Added to loan.

Redemption Fee - £195.00 Payable on redemption.

Freehold Flat Yes

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Yes

Maisonette Yes

Studio Flat No

Flying Freehold No

Thatched Yes

Timber Framed No

Concrete No

Agricultural Tie No

Flat Over 4 Storeys Yes

Listed Building Yes

Not Accepted

New build flats - max LTV 65%, other new build properties excluding flats up to 75% LTV.

Accepted Locations : England, Scotland, Wales, N Ireland

Bank Statements 1 months

At Least 3 Months Pay Slips No

P60 No

Proof Of Residency Yes

Life Policy To Be Assigned No

Previous Lender References No

Buildings Conditional

Min Loan £50,000

Max Loan £500,000

Max Portfolio of BTL Loans none

Min Age 21 years

Max Age 65 years

Min Term 5 years

Max Term 40 years

Foreign Citizens Not Accepted

Ex-Patriates Not Accepted

Based on Income > 1

3.5 + 1 or 2.75 joint

Based on Income > 30000

4 + 1 or 3.5 joint

Based on Income > 50000

4.5 + 1 or 4 joint

Min months in current position none

Min months in continuous service none

Min no. of years accounts 2

Average years taken to calculate income 1

Will consider declining profit Yes

Minimum trading period is 12 months.

Accountants certificate is required.

All cases are treated on an affordability basis and will be considered on their own merit.

For Flexible Mortgage -

Salary Below £30,000.00 = 3.5x Single, 2.75x Joint or 4 plus 1.

Salary £30,000 - £50,000 = 4x Single, 3.5x Joint or 4 plus 1.

Salary £50,000 plus = 4.5x Single, 4x Joint or 4.5 plus 1.

(ALL APPLICATIONS ARE SUBJECT TO INDIVIDUAL ASSESSMENT AND EACH WILL BE CONSIDERED ON ITS OWN MERITS)

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft Taken into account

Credit/Store Cards Taken into account

Child Maintenance Taken into account

Child Education 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 Add 100% to income before multiply

Non Contributory Pension Add 100% to income before multiply

Car Allowance Add 100% to income before multiply

CCJs : Acceptable, must be satisfied

Defaults : See CCJs

Arrears : Acceptable,

Bankrupt : Not Acceptable

Current IVA : Not Acceptable

Repossession : Not Acceptable

- The Lender 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.

- The Lender 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 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.