Need help keying additional borrowing?

The most common reason for experiencing issues when keying additional borrowing is exceeding the maximum loan to value (LTV) for the requested borrowing type. This table confirms the maximum LTV limits for additional borrowing types.

If more than one type of borrowing is applicable to the application, the lowest LTV limit will apply.

Acceptable loan purpose Maximum LTV Additional information

Non-structural home improvements




85%*
This includes boiler replacement, new kitchen or bathroom, replacing double glazing or central heating installation.
Structural home improvements This includes internal wall removal, extending a property, major roof works or a new staircase.
Buy final share in shared ownership

 

Please key as a shared ownership application on the loan requirements screen of NFI Online.

Buy additional share in shared ownership
Buy freehold title or new extended lease
Please key the new lease term on the application, for example, if the current lease is 55 years but when completed it'll be 150 years, key 150 years. Please contact us for shared ownership applications.
Buy a share in the freehold
This isn't allowed on shared ownership.
Buy land to extend security
Buy out partner's interest (non-borrower)
 
Buy land or property separate from the security
Borrowing to buy a property/land that'll then be let out isn't acceptable

This isn't allowed on shared ownership and right to buy (within the discount clawback period).
Repay Help to Buy Equity Loan
A Help to Buy Equity Loan (including Scottish First Home Fund) must be repaid in full and no other additional borrowing can be requested as part of the remortgage application. If the LTV doesn't exceed 80% this should be keyed as 'Pay off second charge' on NFI Online.
Other personal consumption
This includes: holiday, car or school fees. 

We don’t lend for business purposes.

This isn't allowed on shared ownership and right to buy (within the discount clawback period).
Remortgage with additional mortgaged properties in the background
This includes second home or buy to let property
Like for like remortgage
 
Repay unsecured debts
80%* This includes credit cards, personal loans or hire purchase. 

This isn't allowed on shared ownership and right to buy (within the discount clawback period).
Pay off second charge
Any other equity loan (Not Help to Buy) will be classed as a second charge. 

This isn't allowed on shared ownership and right to buy (within the discount clawback period).

*If the application includes borrowing additional funds for structural home improvements and a retention has been applied, the product LTV is based on the post-works valuation. If no retention is applied, the LTV is based on the value of the property in its current condition.

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