Non Simultaneous Sale and Purchase
Our standard acceptability
Indicates if we can potentially accept a situation (on a residential basis) whereby an applicant is not selling their related sale property on the same day as the onward purchase. For example, this situation might arise when there is a deadline on a new build purchase and the sale is not quite ready to complete resulting in a non-simultaneous sale and purchase.
We can only accept these where the applicants have sufficient incomes to service any existing mortgage on their existing property. Any additional borrowing required to fund the deposit on the purchase must be referred.
29 August 2018