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Are you eligible for a mortgage?

Make sure you’re able to get a mortgage with us



Summary

To be eligible to apply for one of our mortgages, you'll need to meet our standard eligibility criteria. This includes being 18 or over and having a steady income to keep up with your mortgage payments

To apply, you need to be:

  • 18 or over.
  • 75 or younger when your mortgage ends.
  • A permanent UK/EU citizen, or have lived in the UK for at least 2 years with an indefinite right to remain in the UK.
  • Free from any defaults or County Court Judgments (CCJs) in excess of £100 in total in the last 6 years.
  • Free from having entered into an Individual Voluntary Agreement (IVA) or Scottish Trust Deed or been declared bankrupt in the last 6 years.
  • Free from having been repossessed or entered into voluntary repossession.
  • A customer with a permanent income and steady expenditure to keep meeting your mortgage repayments.

The property needs to be

  • Habitable, in a saleable condition, structurally sound and insurable as well
  • Of standard construction complying with our property guidelines
  • In England, Wales, Scotland or Northern Ireland. Not in the Isle of Man or Channel Islands.
  • Not currently affected by progressive structural movement, dry rot, Japanese knot weed or contaminated land

The mortgage needs to

  • Either be for purchasing a property, remortgaging an existing residential property or raising capital from an acceptable purpose (not debt consolidation, business or speculative purposes).
  • Be paid in full before your intended retirement date, unless you talk to us about a source of income to cover repayments into retirement. See all the mortgages we offer

Loan to Value

The Loan to Value (LTV) can go up to 90% of the purchase price and/or value of the property, unless:

  • The property is classified as a new build (one that has been built or converted within the last 24 months or that has been built longer than this but never occupied since construction/conversion). In this case, we can only offer up to 75% LTV for flats/maisonettes and up to 85% LTV for houses/bungalows.
  • You are a first time buyer who has been in their current job for less than 6 months. In this situation we can only lend up to 75% LTV.
  • You already own a property. In this case, we will only lend up to 75% LTV on the new property.
  • You are looking to borrow additional funds, for example for home improvements, in which case we can only lend up to 85% LTV. This applies to new customers moving their mortgage to us and existing customers who wish to borrow more.
  • Additional criteria apply for loans above 85% LTV.

Mortgages over 85% LTV (to a maximum of 90%) are available for new customers looking to purchase a property or to move their existing mortgage to us and for existing mortgage customers who wish to move home.

The following additional criteria applies for loans above 85% LTV:

  • Minimum of 6 months in current job for main applicant, or have 2 years accounts for self employed applicants
  • Minimum household income of £20k per annum
  • Minimum property value £75k and maximum property value £350k
  • The property should be of standard construction, habitable, structurally sound and the valuer must not see any resale issues

Fees can only be added to the loan up to the maximum of 90% LTV (with the fee included).

All applications are subject to our credit score and affordability checks.

Your home may be repossessed if you do not keep up with repayments on your mortgage

Got questions?

See if our FAQs can give you the answer.


Important information

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Tariff of charges

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How we use your personal information

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Mortgages legal information

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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.

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