Source of deposit: Mortgage on additional property

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we accept monies raised from the mortgage of an additional property as an acceptable source of deposit. For example, Mr & Mrs Smith want to purchase a new home to live in. The purchase price is £200,000 and they are looking to put down a £50,000 deposit. Their deposit is being raised against another property they own which is Let. 

Policy Notes:

This is acceptable.

Criteria categories:
  • deposits
  • Policy

Last updated:

29 August 2018

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