Buy-to-let policy
Arrears
Mortgages
- In the last 6 months, there must be no mortgage arrears
- In the last 2 years, max 2 months’ arrears per mortgage
Loans
- In the last 6 months, max 1 month’s arrears per account, unless they're back up to date
- In the last 2 years, max 2 months’ arrears per account
All other commitments
- In the last 6 months, max 1 month’s arrears per account, unless they're back up to date
- In the last 1 year, max 3 months’ arrears per account, and no account 3 months in arrears for 2 months in a row
Other missed payments may be acceptable, subject to application
Defaults
- Unsatisfied – No defaults of any value that are currently unsatisfied
- Satisfied – No defaults registered in the last 12 months. In the last 6 years, max 2 satisfied defaults and the max total value of all satisfied defaults is £2,000
CCJs
- Unsatisfied – No CCJs of any value that are currently unsatisfied
- Satisfied – No CCJs registered in the last 6 months. In the last 6 years, max 1 satisfied CCJ and the value must be no more than £500
Debt management plans
Customers must not have a current debt management plan in place.
IVAs, Administration Orders, Debt Relief Orders or Bankruptcy
None of these are acceptable within the last 6 years, even where satisfied or discharged.