Loan Limits

Loan To Value (LTV limits)

For principal private residences: From 1/1/17

• First Time Buyers: 90%
• Non-First Time Buyers: 90%

Loan To Income Limit

For principal private residence:

• 3.5 times income

What you need to Apply

Proof of income in accordance with the Lending Policy

• the applicant’s ID and ability to pay have been established with reference to original documentation
• CCR checks
• Judgement checks
• The independent valuation report

Household Debt Service Ratio % on the basis of the current interest rate stressed-tested for a 2% rate rise

Conditions attaching to the application including:

• perfection of security
• property insurance arrangements
• the Mortgage Loan meets the member(s) needs and objectives;
• the outcome of the assessment of affordability shows that the member(s)
  • is likely to be able to meet the loan repayments on an ongoing basis;
  • is financially able to bear any risks attaching to it;
  • has the ability to repay the loan on the terms of the credit agreement
• the product or service is consistent with the member’s attitude to risk.

A draft of the Suitability Statement will be provided to the member(s).