Our lending criteria

Below you'll find our mortgage specific lending criteria from Bristol & West Mortgages which you should read together with our general lending criteria.

Check through this information carefully to make sure you're eligible before you apply.

Buy to Let Mortgages

Minimum Loan:

£15,001 for purchases, £25,001 for remortgages and easyflex offset products (unless otherwise stated)

Maximum Loan:

£500,000 per property for purchases and remortgages

Maximum Total Borrowing:

£2,000,000

Maximum number of properties:

5

Maximum LTV:

(90% on selected products, otherwise 85%). Arrangement fees can be added

Property:

Minimum Valuation £40,000. We accept ex-Local Authority houses. We do not accept flats or maisonettes built within the last 12 months, or being purchased for the first time since conversion. Houses built within the last 12 months or being purchased for the first time since conversion are acceptable up to 75% LTV. We do not accept shared equity, ex-office block conversions, speculatively converted ex-Local Authority blocks, ex-Local Authority blocks of flats with open decking or ex-Local Authority/Public Sector flats where the value is less than £90,000 or the block exceeds 4 storeys in height.

Age:

At least one borrower must be 21 or over

Term:

Minimum 5 years. No maximum

Income Requirements:

Up to and including 75% - None. 75% - 90% - £15,000 p.a. basic income. (Self employed accepted)

Rental Income Multiples:

Rental income should be equal to or greater than 100% of your monthly interest repayments if the product you have chosen is fixed or capped for 3 years or more. For all other mortgages, the figure used should be 118%

Overpayments:

You can pay up to 10% of the mortgage balance each year without incurring any early repayment or administration charges. Subject to a minimum payment of £2,000 based on the outstanding balance as at the previous 31st March each year.

Use of letting agent:

Not required

Payment Types Accepted:

Repayment, interest only or a combination of both

Tenants:

No students, multiple tenancies or holiday lets. Department for Work and Pensions tenants are acceptable. No family members

Experience:

Evidence of current or previous satisfactory conduct of mortgage (i.e. no first time buyers unless on a joint application with a second time buyer) within the previous 5 years or outright owners

Availability:

Applicants must be second time buyers and be a resident in England, Wales or Scotland. Conditions apply.

Free Legals for Remortgagers:

If your product is described as ‘No legal fees (for remortgagers only)’ we will pay the fees for remortgages only via our nominated solicitors. Terms and conditions apply, see our General Lending Criteria for details.

England & Wales Scotland
With Vacant Possession With Tenanted Possession With Vacant Possession With Tenanted Possession
Rates correct at 16/04/2007. Available to all new customers.
Purchases Yes Yes Yes No
Remortgages Yes Yes Yes Yes