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Residential purchases and remortgagesPrimePlan nameMaximum CCJs / defaults(in last number of months)Property typeMaximum LTV - purchasesMaximum LTV - remortgagesLoan amounts 60% LTV 60% LTV 60% LTV 60% LTVVariable rate5 year fixed rateReversionary rate5 year fixed rateReversionary rateHeavyLow CMM:01RCMLV:0100013 in 12(1 in last 3)30 in 122 in 12(0 in last 3)60 in 121 in 12(0 in last 6)30 in 121 in 12(0 in last 6)12 in 12(0 in last 3)0 in 120 in 120 in 121 in 121 in 123 in 126 in 123 in 12AMinimum valuationMediumRCMP:00AMaximum demeritsMaximum secured arrears(highest in last number of months)LightABCABABABCABC 125,000 75,000 100,000 75,000 100,000 75,000 75,000 50,00075%70%60%70%70%65%60%50%65% 3,000 - 500,000; 1,000,000 50% LTV ( 1,000,000 by referral)60%60%60%60% 3,000 - 250,000 ( 250,000 by referral 60% 12%7.12%8.10%8.10%9.10%10.65%9.10%BBR 6.12%BBR 6.12%BBR 6.12%BBR 7.10%BBR 7.10%BBR 8.10%BBR 9.65%BBR 8.10%7.44%7.44%7.44%8.10%8.10%9.10%10.65%9.10%BBR 6.44%BBR 6.44%BBR 6.44%BBR 7.10%BBR 7.10%BBR 8.10%BBR 9.65%BBR 8.10% 3,000 - 250,000Acceptance fee2.99% min 499 (loan amounts 3,000 - 120,000); 2.5% (loan amounts 120,000) capped at 10,000The loanPropertiesCredit profile & demerits Interest Only available on all products Term: 3 to 30 years variable rate; 5 to 30 years fixed rate No early repayment chargesA type - standard construction houses and bungalows includingex-councilB type- flats and maisonettes (up to a maximum of 6 floors), excouncil flats and maisonettes (up to a maximum of 4 floors) andpurpose built apartments (not ex-council)C type - all other property types, including ex-council flats andmaisonettes (over 4 floors), non-standard construction, defective,high-rise (over 6 floors) or poor remarks on valuationProduct selection is based on demerits defined as a CCJ, default or arrears within thelast 12 months (adverse older than 12 months is ignored for plan selection)Individual CCJs and defaults: Ignore – all 300 or satisfied 3,000 1 demerit – unsatisfied 300 - 10,000; satisfied 3,000 Refer – unsatisfied 10,000Secured arrears: Demerit points are defined as the highest number of arrears in the last 12 monthson all first and second charge mortgages for the applicant(s)Unsecured arrears: No declining unsecured credit in the last 6 monthsSatisfactory explanations are required for arrears, defaults, CCJs and rent arrearsBankruptcy, IVA, Debt Management Plan/DAS not acceptedPayday & Home Lender loans may be accepted, see the Personal LendingUnderwriting Guide for full detailsApplicants Employed, self-employed, contract workers, zero hour contracts, retired,benefits and DWP accepted First time buyers accepted and must have no declining unsecured credit Lending in retirement – accepted Lending into retirement – within 10 years by referralMaximum LTV may be reduced if there is more than a 10%difference between market value and the 90 day projected marketvaluation, a cash valuation has been supplied or poor is detailedon the valuation. Please refer.This information is for use only by professional finance and mortgage intermediaries for the purpose of assessing specialist mortgage acceptance criteria.Other persons should not place any reliance on the content. It must not be distributed to potential borrowers. These plans and commissions supersede allprevious packs, criteria, special plans and commissions.Together Personal Finance Limited Residential Mortgages February 2017 PR BRO078 8 NP
Right-to-buy purchasesPrimePlan nameLightMediumHeavyLow RCML:01RCMM:01RCMLV:0100011363Maximum secured arrears(highest in last number of months)0 in 120 in 120 in 121 in 12(0 in last 6)1 in 12(0 in last 6)2 in 12(0 in last 3)3 in 12(1 in last 3)2 in 12(0 in last 3)Maximum CCJs / defaults(in last number of months)0 in 120 in 120 in 121 in 121 in 123 in 126 in 123 in 12CAB 100,000 75,000 100,00050%65%60%Maximum demeritsProperty typeAMinimum valuationA 125,000Maximum LTVB 75,00065%65%60%Maximum LTV - clients shareLoan amounts 60% LTV 60% LTV 60% LTV 60% LTV5 year fixed rateReversionary rate5 year fixed rateReversionary rateBAB 75,00065%60%C 75,00060%ABC 50,00050%50%100% 3,000 - 250,000Variable rateA 3,000 - 500,000; 1,000,000 50% LTV ( 1,000,000 by referral) 3,000 - 250,000 ( 250,000 by referral 60% .10%8.10%9.10%10.65%9.10%BBR 6.12%BBR 6.12%BBR 6.12%BBR 7.10%BBR 7.10%BBR 8.10%BBR 9.65%BBR 8.10%7.44%7.44%7.44%8.10%8.10%9.10%10.65%9.10%BBR 6.44%BBR 6.44%BBR 6.44%BBR 7.10%BBR 7.10%BBR 8.10%BBR 9.65%BBR 8.10%Acceptance fee2.99% min 499 (loan amounts 3,000 - 120,000); 2.5% (loan amounts 120,000) capped at 10,000The loanPropertiesCredit profile & demerits A type - standard construction houses and bungalows includingex-councilB type- flats and maisonettes (up to a maximum of 6 floors), excouncil flats and maisonettes (up to a maximum of 4 floors) andpurpose built apartments (not ex-council)C type - all other property types, including ex-council flats andmaisonettes (over 4 floors), non-standard construction, defective,high-rise (over 6 floors) or poor remarks on valuationProduct selection is based on demerits defined as a CCJ, default or arrears within the last 12months (adverse older than 12 months is ignored for plan selection)Individual CCJs and defaults: Ignore – all 300 or satisfied 3,000 1 demerit – unsatisfied 300 - 10,000; satisfied 3,000 Refer – unsatisfied 10,000Secured arrears: Demerit points are defined as the highest number of arrears in the last 12 months on allfirst and second charge mortgages for the applicant(s)Unsecured arrears: No declining unsecured credit in the last 6 monthsSatisfactory explanations are required for arrears, defaults, CCJs and rent arrearsBankruptcy, IVA, Debt Management Plan/DAS not acceptedPayday & Home Lender loans may be accepted, see the Personal Lending UnderwritingGuide for full details100% of the purchase price accepted up to the maximum LTVInterest Only available on all productsTerm: 3 to 30 years variable rate; 5 to 30 years fixed rateNo early repayment chargesApplicants Employed, self-employed, contract workers, zero hour contracts,retired, benefits and DWP accepted First time buyers accepted and must have no declining unsecuredcredit Lending in retirement – accepted Lending into retirement – within 10 years by referralMaximum LTV may be reduced if there is more than a 10%difference between market value and the 90 day projected marketvaluation, a cash valuation has been supplied or poor is detailedon the valuation. Please refer.This information is for use only by professional finance and mortgage intermediaries for the purpose of assessing specialist mortgage acceptance criteria.Other persons should not place any reliance on the content. It must not be distributed to potential borrowers. These plans and commissions supersede allprevious packs, criteria, special plans and commissions.Together Personal Finance Limited Residential Mortgages February 2017 RTB BRO078 8 NP
Shared ownershipPrimePlan nameThe loanLightRCMS:00RCMS:01RCMS:02011Maximum secured arrears(highest in last number of months)0 in 121 in 12(0 in last 6)1 in 12(0 in last 6)Maximum CCJs / defaults(in last number of months)0 in 121 in 122 in 12AABCABCMaximum demeritsProperty typeMinimum valuationMaximum LTV75% 60% LTV 60% LTV 60% LTVAcceptance fee75%70%100%Loan amounts 3,000 - 250,000Variable rate5 year fixed rateReversionary rate5 year fixed rateReversionary rate 75,000Maximum LTV - clients share 60% LTV 9.35%BBR 6.12%BBR 8.10%BBR 8.35%7.44%9.10%9.35%BBR 6.44%BBR 8.10%BBR 8.35%2.99% min 499 (loans 3,000 - 120,000); 2.5% (loans 120,000)PropertiesA type - standard construction houses and bungalows including ex-councilB type - flats and maisonettes (up to a maximum of 6 floors), ex-council flats and maisonettes (up to a maximum of 4 floors) andpurpose built apartments (not ex-council)C type - all other property types, including ex-council flats and maisonettes (over 4 floors), non-standard construction, defective,high-rise (over 6 floors) or poor remarks on valuationMaximum LTV may be reduced if there is more than a 10% difference between market value and the 90 day projected marketvaluation, a cash valuation has been supplied or poor is detailed on the valuation. Please refer.Loan to value (property valuation x percentage to be purchased by client) max LTVe.g. Property value 150,000. Client’s share of 50% 75,000. Maximum mortgage 75,000 at 100%. 100% of the purchase price accepted up to the maximum LTVInterest Only available on all productsTerm: 3 to 30 years variable rate; 5 to 30 years fixed rateNo early repayment chargesMortgagee Protection Clause (MPC) in favour of Together Personal Finance Limitedrequired on all mortgages or strictly subject to underwriter approval. Where fees areadded to the loan advance MPC must cover the gross loan.Fees can be added.Rent reference required in all cases.For purchases, a draft lease will be required which must include a Mortgagee ProtectionClause (MPC). If there is no MPC then LTV is restricted to 60% of the client’s share. Termloans and mortgages are subject to all approval conditions of the Housing Association.Once the lease has been reviewed your underwriter will provide you with a list ofrequirements to complete the case. Strictly subject to underwriter approval.Remortgages are strictly subject to underwriter approval. Employed, self-employed, contract workers, zero hour contracts, retired, benefits andDWP accepted First time buyers accepted and must have no declining unsecured credit Lending in retirement – accepted Lending into retirement – within 10 years by referralCredit profile & demeritsProduct selection is based on demerits defined as a CCJ, default or arrears within the last 12months (adverse older than 12 months is ignored for plan selection)Individual CCJs and defaults: Ignore – all 300 or satisfied 3,000 1 demerit – unsatisfied 300 - 10,000; satisfied 3,000 Refer – unsatisfied 10,000Secured arrears: Demerit points are defined as the highest number of arrears in the last 12 months on all firstand second charge mortgages for the applicant(s)Unsecured arrears: No declining unsecured credit in the last 6 monthsRent arrears: Rent arrears accepted strictly by underwriter approval.Satisfactory explanations are required for arrears, defaults, CCJs and rent arrearsBankruptcy, IVA, Debt Management Plan/DAS not acceptedPayday & Home Lender loans may be accepted, see the Personal Lending Underwriting Guidefor full detailsThis information is for use only by professional finance and mortgage intermediaries for the purpose of assessing specialist mortgage acceptance criteria.Other persons should not place any reliance on the content. It must not be distributed to potential borrowers. These plans and commissions supersede allprevious packs, criteria, special plans and commissions.Together Personal Finance Limited Residential Mortgages February 2017 SO BRO078 8 NP
Consumer buy to let – first charge remortgagesPlan namePrimeRTSP:02RTSP:21Maximum demeritsRTSL:0312LightRTSL:04RTSL:210 in 120 in 3(1 in last 12)2 in 12RTSL:41RTSL:42MediumRTSM:03 RTSM:21 RTSM:413RTSM:42562 in 3(4 in last 12)4 in 123 in 124 in 126 in %50%50%60%55%55%50%50%50%55%50%50%50%B65%60% 150,000Maximum loan amounts 60% LTVVariable rate(unless specified)Rental cover55% 100,00050% 40,000 40,00065% 150,00060% 150,000 500,00060% 150,00055%50% 100,00050% 50,000 50,00060%9.10%8.24% ( 65% LTV)9.60%11.60%50%50% 150,000 100,000 500,0007.49% ( 65% LTV)HeavyRTSH:111 in 3(3 in last 12)AMinimum valuation 60% LTVRTSL:020 in 31 in 3(1 in last 12) (2 in last 12)0 in 12Maximum CCJs / defaults(in last number of months)(unless specified)RTSP:420Maximum secured arrears(highest in last number of months)Maximum LTVfor propertytypesRTSP:4155%50% 60,000 60,00050%50% 125,000 200,000 ( 200,001 - 500,000 by referral)11.77%13.50%14.50%120% (if using rental income verified by an Estate or Letting Agent’s rental projection, 90% must cover 120% of the total secured lending repayments)Acceptance fee3.5% of the net loan (loan amounts 50,000; min 450); 2.5% of the net loan (loan amounts 50,000; capped at 10,000)Commission2.25% (loan amounts 100,000); 2.00% (loan amounts 100,001 to 200,000); 1.75% (loan amounts 200,000; capped at 8,750)The loanApplicantsCredit profile & demeritsProperties Remortgages available from 5,000 to 500,000 Interest Only available on loans over 25,000 Term: 4 to 30 years variable rate No affordability assessment where rentalincome is 120% of total repayments No early repayment charges No maximum age where rental incomecovers 120% of total secured lendingrepayments Employed, self-employed, contractworkers, zero hour contracts, retired,benefits and DWP accepted Lending in retirement – accepted Lending into retirement – by referralProduct selection is based on demerits defined as a CCJ,default or arrears within the last 12 months (adverse olderthan 12 months is ignored for plan selection)A type - standard construction houses and bungalows, including ex-councilQualifying contractsA mortgage is a consumer buy to let (CBTL) on the basis of the following statements. Thestatements are in priority order, so if someone owns a BTL property already (4) and inherits afurther property (7) the application will not be a CBTL.1. If the borrower or a ‘related person’ does not occupy any part of the property2. The borrower is an Individual, Partnership of 3 or less persons, or an unincorporated body3. The loan purpose is not to purchase the security4. The borrower does not own any other properties which are rented out5. The transaction is a ‘Let to Buy’ transaction6. The borrower or a ‘related person’ has lived in the property since it was last purchased7. The property was inheritedPlease see the Personal Lending Underwriting Guide for full details.Individual CCJs and defaults: Ignore – all 300 or satisfied 3,000 1 demerit – unsatisfied 300 - 10,000; satisfied 3,000 Refer – unsatisfied 10,000Secured arrears: Demerit points are defined as the highest number ofarrears in the last 12 months on all first and secondcharge mortgages for the applicant(s)Bankruptcies or IVAs discharged / satisfied for more than 1year are accepted by underwriter approval up to a maximumof 65% LTVDebt Management Plans are considered by referral onmedium/heavy plans with minimum 2 years satisfactoryconduct. See the Residential Underwriting Guide for fulldetailsDebt Arrangement Schemes not acceptedPayday & Home Lender loans may be accepted, see thePersonal Lending Underwriting Guide for full details.This information is for use only by professional finance and mortgage intermediaries for the purpose of assessing specialist mortgageacceptance criteria. Other persons should not place any reliance on the content. It must not be distributed to potential borrowers.These plans and commissions supersede all previous packs, criteria, special plans and commissions.B type - flats and maisonettes (maximum of 6 floors), ex-council flats andmaisonettes (maximum of 4 floors) and purpose built apartments (not ex-council)C type - all other property types, including ex-council flats and maisonettes (over4 floors), non-standard construction, defective, high-rise (over 6 floors) or poorremarks on valuationMaximum LTV may be reduced if there is more than a 10% difference betweenmarket value and the 90 day projected market valuation, a ‘cash’ valuation hasbeen supplied or ‘poor’ is detailed on the valuation. Please refer.Bypass schemesDrive by valuation bypass:Maximum Loan 25k* 50k 100kMaximum LTV70%65%50%Property TypesValuationAB 0 - 750k* Prime plans only100% residential properties only. Valuation bypass schemes are not available for new build properties.Together Personal Finance Limited CBTL – first charge February 2017 BRO080 8 ST1
Consumer buy to let – second charge mortgagesPlan namePrimeRTSP:02RTSP:21Maximum demerits0 in 12RTSL:0312LightRTSL:04RTSL:210 in 3(1 in last 12)2 in 12RTSL:41RTSL:42MediumRTSM:03 RTSM:21 RTSM:413RTSM:42562 in 3(4 in last 12)4 in 123 in 124 in 126 in %50%50%60%55%55%50%50%50%55%50%50%50%B70%65% 150,000Maximum loan amounts 100,000 60% LTVVariable rate(unless specified)Rental cover55% 100,00050% 40,000 40,000 250,00065% 150,00060% 150,00060% 150,000 100,0007.65% ( 65% LTV)10.25%8.40% ( 65% LTV)10.75%55%50% 100,000 50,00050% 50,00060%50%50% 150,000 100,000 250,00011.60%HeavyRTSH:111 in 3(3 in last 12)AMinimum valuation 60% LTVRTSL:020 in 31 in 3(1 in last 12) (2 in last 12)0 in 12Maximum CCJs / defaults(in last number of months)(unless specified)RTSP:420Maximum secured arrears(highest in last number of months)Maximum LTVfor propertytypesRTSP:4155%50% 60,000 60,00050%50% 125,000 75,00011.77%13.50%14.50%120% (if using rental income verified by an Estate or Letting Agent’s rental projection, 90% must cover 120% of the total secured lending repayments)Acceptance fee3.5% of the net loan (loan amounts 50,000; min 450); 2.5% of the net loan (loan amounts 50,000; capped at 10,000)Commission2.25% (loan amounts 100,000); 2.00% (loan amounts 100,001 to 200,000); 1.75% (loan amounts 200,000; capped at 8,750)The loanApplicantsCredit profile & demeritsProperties Second charge mortgages available up to 250,000 Interest Only available on loans over 25,000 Term: 4 to 30 years variable rate No affordability assessment where rentalincome is 120% of total repayments No early repayment charges No maximum age where rental incomecovers 120% of total secured lendingrepayments Employed, self-employed, contractworkers, zero hour contracts, retired,benefits and DWP accepted Lending in retirement – accepted Lending into retirement – by referralProduct selection is based on demerits defined as a CCJ,default or arrears within the last 12 months (adverse olderthan 12 months is ignored for plan selection)A type - standard construction houses and bungalows, including ex-councilQualifying contractsA mortgage is a consumer buy to let (CBTL) on the basis of the following statements. Thestatements are in priority order, so if someone owns a BTL property already (4) and inherits afurther property (7) the application will not be a CBTL.1. If the borrower or a ‘related person’ does not occupy any part of the property2. The borrower is an Individual, Partnership of 3 or less persons, or an unincorporated body3. The loan purpose is not to purchase the security4. The borrower does not own any other properties which are rented out5. The transaction is a ‘Let to Buy’ transaction6. The borrower or a ‘related person’ has lived in the property since it was last purchased7. The property was inheritedPlease see the Personal Lending Underwriting Guide for full details.Individual CCJs and defaults: Ignore – all 300 or satisfied 3,000 1 demerit – unsatisfied 300 - 10,000; satisfied 3,000 Refer – unsatisfied 10,000Secured arrears: Demerit points are defined as the highest number ofarrears in the last 12 months on all first and secondcharge mortgages for the applicant(s)Bankruptcies or IVAs discharged / satisfied for more than 1year are accepted by underwriter approval up to a maximumof 65% LTVDebt Management Plans are considered by referral onmedium/heavy plans with minimum 2 years satisfactoryconduct. See the Residential Underwriting Guide for fulldetailsDebt Arrangement Schemes not acceptedPayday & Home Lender loans may be accepted, see thePersonal Lending Underwriting Guide for full details.This information is for use only by professional finance and mortgage intermediaries for the purpose of assessing specialist mortgageacceptance criteria. Other persons should not place any reliance on the content. It must not be distributed to potential borrowers.These plans and commissions supersede all previous packs, criteria, special plans and commissions.B type - flats and maisonettes (maximum of 6 floors), ex-council flats andmaisonettes (maximum of 4 floors) and purpose built apartments (not ex-council)C type - all other property types, including ex-council flats and maisonettes (over4 floors), non-standard construction, defective, high-rise (over 6 floors) or poorremarks on valuationMaximum LTV may be reduced if there is more than a 10% difference betweenmarket value and the 90 day projected market valuation, a ‘cash’ valuation hasbeen supplied or ‘poor’ is detailed on the valuation. Please refer.Bypass schemesDrive by valuation bypass:Maximum Loan 25k* 50k 100kMaximum LTV70%65%50%Property TypesValuationAB 0 - 750k* Prime plans only100% residential properties only. Valuation bypass schemes are not available for new build properties.Together Personal Finance Limited CBTL – second charge February 2017 BRO080 8 ST1
Payday & Home Lender loans may be accepted, see the Personal Lending Underwriting Guide for full details Applicants Employed, self-employed, contract workers, zero hour contracts, retired, benefits and DWP accepted First time buyers accepted and must have no declining unsecured credit Lending in retirement - accepted
