Key criteria

Buying your first home, remortgaging, or planning home improvements? Our key lending criteria can be found below.

 

• How much can I borrow?
  • Mortgage loans from £100,000 to £5million 
  • You can borrow up to 90% of your property's value, depending on the amount you need and your circumstances
• Who can apply?

  You may be eligible if: 

  • You are 18 or over 
  • You live in Guernsey or Jersey and are buying a residential property 
  • You're employed, self-employed or work on a contract basis 
  • You earn at least £36,000 a year, or £52,000 combined income for joint applicants)
• What income can be included?

  We may be able to consider: 

  • Your salary 
  • Bonuses, commission and overtime
  • Certain work-related allowances 
  • Income from a second job 
  • Pension income 
• What can the mortgage be used for?
  • Buying a home
  • Moving your mortgage from another lender 
  • Home improvements 
  • Borrowing extra funds for acceptable purposes 
  • Combining existing debts into one manageable payment 
• Deposits

  Your deposit can come from:

  • Savings 
  • The sale of another property 
  • Investments 
  • An inheritance
  • A gift from family  
• Things we'll consider

  Before offering a mortgage, we'll look at:

  • Your income and regular spending
  • Existing loans and credit commitments
  • Childcare, maintenance and other regular costs
  • Whether the monthly repayments are affordable for you
• Property requirements
  • Residential properties in Guernsey or Jersey
  • Minimum property value of £100,000
  • The property must be adequately insured