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.

Professional Mortgages

Minimum Loan:

£15,001

Maximum Loan:

£400,000

Loan Tiers:

100% up to £400,000 (fees can be added to the loan)

Age:

Minimum 18

Term:

Maximum: To normal retirement age. Minimum: 10 years (shorter terms considered by exception where the underwriter is satisfied that ability to pay exists).

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.

Employment Status/Minimum Income:

Employed for a minimum of 3 months or self employed for a minimum of 12 months. One applicant must be earning a minimum of £20,000.

Proof of Income:

Standard income verification applies. No additional proof of professional status required.

Property:

We do not accept shared equity, right to buys, flats in converted office blocks and speculatively converted ex Local Authority blocks.

Income Multiples:

5 x main plus 1 x second allowable income or 4.5 x joint income

At least one applicant must be "Professional" - please see list of qualifying professionals below.

Higher Lending Charges:

Where the loan required exceeds 85% LTV of the lower of the purchase price or valuation and is not a product described as 'Higher Lending Charge paid by Bristol & West Mortgages' the borrower will pay the following Higher Lending Charge on the excess loan over 75% LTV

Higher Lending Charge Bands:

  • Over 85% to 90%: 7.25%
  • Over 90% to 95%: 8.65%

You may be liable for any mortgage shortfall debt if after possession the sale proceeds are not sufficient to repay your outstanding debt.

Availability:

Applicants must be practising professional first time buyers only and be a resident in England, Wales and Scotland. For purchase only

Additional criteria:

Acceptable professions

  • Medical Doctor - Licenced to practise by the General Medical Council
  • Dentist - Licenced to practise by the General Dental Council
  • Pharmacist - Licenced to practise by the Royal Pharmaceutical Society of Great Britain
  • Teacher - Licenced with General Teaching Council either for England or Scotland
  • Architect - Licenced to practise by the Architects Registration Board
  • Accountant - Professional membership of one of the following: CIMA, F/ACA, F/ACCA, CIPFA, F/AAT, CTA, F/ATII, C/ACMA, AAPA
  • Actuary - Registered to practise with either the Institute of Actuaries or the Faculty of Actuaries
  • Vet - Registered to practise with the Royal College of Veterinary Surgeons
  • Chartered Surveyor - Registered to practise with the Royal Institution of Chartered Surveyors
  • Optometrist/Ophthalmic Optician - Registered to practise with the General Optical Council
  • Barrister - Registered and licenced to practise with the Bar Council and holding a tenancy in a legal chambers
  • Solicitor - Registered and licenced to practise with the Law Society.
  • High Potential Development Scheme Police Officers - Registered on the police High Potential Development Scheme.
  • Graduate Fast Stream Civil Servants - Registered on the Graduate Fast Stream Programme
  • Commissioned Military Officers