To be eligible for our Flexible Mortgage your client needs to meet the following criteria
- Over 21 years of age
- Borrow up to 85% of the purchase price or valuation of the property
The following income multiples should be used as a guide only:
| Income multiples for all cases up to 85% |
| Gross income | Income multiples |
| Single | Joint |
| Below £30,000 |
3.5 |
2.75 |
| £30k–£50k |
4 |
3.5 |
| £50k+ |
4.5 |
4 |
Features & benefits
Not for your client?
Take a look at our other mortgage options: Professional Mortgage.
The Flexible Mortgage offers you and your client flexibility and choice
- Each client is given an individual assessment when they apply
- Interest is calculated daily so any lump sum or monthly overpayments immediately reduce the capital balance
- Choice to take all or part of the mortgage at a fixed rate switch and fix facility
- Competitive charges and valuation fees
- Offset is available at no additional cost with all 2 year fixed rates and all variable rates
- Clients can apply for additional borrowing using the Mortgage Reserve Account
- Our standard mortgage (available for Flexible Mortgages up to 75% LTV and less than £500,000)
- Does not require bank statements or references for assessing these cases
- For income verification we only require a current payslip/P60 or an accountant's certificate for self-employed clients
- Earn a referral fee for recommending a solicitor from our select panel to provide your clients' conveyancing for sales, purchase, transfer of equity and non-fees-free remortgages
Where your clients have chosen all or part of their main mortgage on a 2 year fixed rate or a variable rate they have the option of applying for our offset arrangement. This is an optional feature designed to use your clients' savings to help them either
- Reduce the term of their mortgage; or
- Reduce their monthly mortgage payment
Both of these options allow your client to benefit from paying less interest on their mortgage.
Try our offset calculator to see how they could benefit.
Our offset calculator demo video gives you a run through of the features of the offset calculator.
Complete a range of tasks quickly and easily using our online mortgage service.
- Track Full Applications and Decisions in Principle submitted online and by post
- View details of your case and progression to date
- Clear view of outstanding tasks
- View the current range of rates available for your client
- Our online Decisions in Principle can instantly provide the probable outcome of a Full Application
- Save partially completed applications
- Our online Full Application facility can instantly provide a decision on a submitted application
- Save partially completed applications
Tools and calculators
Our online tools and calculators can help you make clear recommendations including reports to support your recommendations and an audit trail for compliance purposes.
Internet banking
Your client can
- Check the mortgage balance
- View details of recent transactions
- Make regular overpayments (variable rate mortgages only)
Literature
Download application forms, key features, adviser and client guides from our Flexible Mortgages literature.