Remortgage purpose: Debt Consolidation (maximum LTV)

Our standard acceptability


Criteria definition:

Indicates the maximum loan to value (LTV) we will accept where there is an element of debt consolidation on a remortgage application. For example, Trevor owns a property that is worth £200,000 and has a current outstanding balance of £140,000. He would like to consolidate an unsecured loan which has an outstanding balance of £10,000 and therefore needs a total loan of £150,000 giving him a LTV of 75%. 

Policy Notes:

We will consider remortgages for debt consolidation up to 80% LTV providing the amount being raised does not exceed 49% of the total mortgage advance and 20% of the property value. In addition we will not normally permit more than five items of credit to be consolidated.

Criteria categories:
  • Policy
  • remortgage purpose

Last updated:

29 August 2018