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Lending Criteria for new mortgages above 85% Loan to Value

If you want to borrow more than 85% LTV the following additional lending criteria will apply:

  • Loans over 85% LTV (to a maximum of 90%) will be available for first time buyers, remortgages (remortgage only or remortgage to buy out partner named on the mortgage) and customers looking to purchase a property. These products are also available for existing customers who are looking to move home. They are not available to existing Co-operative Bank mortgage customers looking to take additional borrowing.
  • The following lending criteria will apply:
  • Minimum of 6 months in current job for main applicant if First Time Buyer, or have 2 years accounts for self employed applicants
  • Minimum household income of £20,000 per annum
  • Only available on a repayment basis
  • Minimum property value £75,000
  • Maximum loan size £500,000
  • Not available to customers who have mortgage arrears
  • No arrears on any other credit agreement within the last 12 months
  • All applications are subject to the Banks standard lending Criteria, including credit scoring and affordability checks
  • Property should be standard construction and suitable security for mortgage purposes with no resale issues as confirmed by a qualified surveyor
  • Not available on new build houses
  • Fees can only be added to the loan up to the maximum of 90% LTV
The Co-operative Bank reserves the right to change or withdraw any of its mortgage deals at any time. All loans are subject to status and valuation.
Your home may be repossessed if you do not keep up repayments on your mortgage