Our criteria

Here's an overview of our eligibility criteria for our buy to let and let to buy mortgages. We've broken it down into easy-to-read sections for you. Just select them individually to find out what you need to know.

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Application

Application

Applicants

Decision in principle

Direct Debit details

Documentation needed

Finders' fees

First monthly payment

Free conveyancing

Free conveyancing for remortgaging to us is available on most of our remortgage products. Where your customer uses our remortgage service, we'll pay their conveyancer's legal fees and any registration fees.

Your customer will have to pay any fees their existing lender might charge for repaying their current mortgage.

These include your customers' existing lender's conveyancer's fees if the existing lender doesn't allow our conveyancer to act for them too.

If a customer chooses a product without free conveyancing or uses their own conveyancer, the conveyancer must be on our panel. Your customer must pay any legal charges, search fees, and registration fees or other costs even if they don't go ahead with the remortgage. The insurance search won't be available.

There might also be other costs to consider, including:

Transfer of equity.
Purchasing an additional tranche.
Additional TTs where a cashback is involved.
Second charges.
Possessory title.
Unregistered land.
Leasehold properties.

The remortgage service is also available for customers raising capital on a mortgage-free property.

Northern Irish customers

Northern Irish law means solicitors appointed by the lender can't provide any additional services to the customer. So, if a customer needs any additional services, they'll need to instruct another solicitor.

Scottish Properties - closure of Sasine register

The General Register of Sasine closed to standard securities on 01 April 2016. This change only affects remortgaging of Scottish properties on the old Sasine register.

As part of our commitment to make things easier, we'll cover the standard costs for transferring from the Sasine register to the Land Registry during the conveyancing part of our remortgage service, wherever possible.

We won't cover all transactions as part of this service if we think they're too complex. For these complex cases, the conveyancer should discuss the additional fees with the customer.

Complex transactions include, but aren't limited to:

Plans report shows either an overlap or shortfall between the legal and occupational extent.
The title is complex with split-off writs, exceptions, and additions that need a full examination to draft the security and obtain a relevant deed plan.
The property is a flat or part of a tenement block with common parts where obtaining neighbouring titles would be needed.
Rural properties where copies of neighbouring titles are needed to check servitudes/access rights etc.

These are high-level examples considered by conveyancer panel firms as the most likely to happen but aren't the only examples. The specific costs associated with complex transactions will vary. Panel firms will apply an hourly rate and agree everything with customers before starting any complex transaction.

Proof of residential purchase - let to buy

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Customer

ID & address verification

All customers must be fully and properly identified as part of the mortgage application process.

Accurate information must be recorded on our application system, including confirmation of whether this is a face-to-face or non-face-to-face application.

If the customer doesn't pass our electronic verification checks, you'll need to certify and retain evidence of the customer's identification documents.

The documents you can accept depend on whether you've met with the customer in person, or remotely by telephone or video.

Here's a guide to understanding what documents you'll need.

Single ID&V

For face-to-face verification, where the customer is physically present and documentation is taken and verified, one document from the single identification list can be used to verify the customer.

Single ID can't be used if the customer isn't present when ID&V is collected. This includes video interviews. In this case, use the standard ID&V process.

Single ID&V documents:

UK photo card driving licence, showing the customer's current address.
UK passport.
Some EU/EEA identity cards.
Some non-UK passports.

These documents can be accepted in a former name with evidence of the name change, such as a marriage certificate, Deed Poll or Decree Absolute.

Standard ID&V

Standard ID&V must be followed when the customer isn't present when ID&V is obtained, or the customer doesn't have a single ID document.

The customer will need to produce two separate documents. These must be originals and can only be used once in the process for either address verification or identification.

FCA registered firms must make sure any documentation relied upon to verify a customer's identify is copied, certified, and retained in accordance with money laundering regulations. We reserve the right to contact you and request copies of identity documents at any time during the life of the mortgage and for up to five years after cessation.

Standard ID&V Documents	Identification	Address
Standard ID&V Documents UK passport	Identification Yes	Address No
Standard ID&V Documents UK photocard driving licence displaying the customer's current address	Identification Yes	Address Yes
Standard ID&V Documents UK paper full driving licence (issued up to 30th June 1998)	Identification Yes	Address Yes
Standard ID&V Documents Non-UK passports	Identification Yes	Address No
Standard ID&V Documents EU/EEA identity cards	Identification Yes	Address No
Standard ID&V Documents Biometric residence permit	Identification Yes	Address No
Standard ID&V Documents EU/EEA photo card driving licence	Identification Yes	Address Yes
Standard ID&V Documents UK Benefits/State Pension notification letter - dated within last 12 months	Identification Yes	Address Yes
Standard ID&V Documents HMRC correspondence (excluding P45/P60) - must show Tax reference or NI number dated within last 12 months	Identification Yes	Address Yes
Standard ID&V Documents Bank, building society or credit union statement dated within last 6 months and issued by a regulated financial sector firm in the UK	Identification No	Address Yes
Standard ID&V Documents Mortgage statement from a bank or building society dated within last 12 months and issued by a regulated financial sector firm in the UK	Identification No	Address Yes
Standard ID&V Documents Council Tax correspondence (excluding arrears and reminders) - Dated within last 12 months	Identification No	Address Yes
Standard ID&V Documents Utility bills dated within last 6 months	Identification No	Address Yes
Standard ID&V Documents Solicitor's correspondence relating to house purchase and dated within last 3 months	Identification No	Address Yes

Expatriates

Foreign nationals

How to certify a document

Refugees

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Income

Affordability and sustainability

Applicants not paid in sterling

Contractors

If your customer is classed as employed, they'll need to have been in their current role for at least three months.

If your customer is classed as self-employed, we'll need at least two years' worth of trading figures.

Sub-contractors, fixed/short term contracts, and agency workers

We'll consider applications from these customers if they have continuous employment of 12 months or more with six months of the contract remaining, or the customer has two years' continuous service in the same type of employment. Evidence of their employment record might be needed.

IT and other contractors

For IT contractors on any income and other contractors whose income is more than £500 per day or £75,000 per annum, whether employed or self-employed, we accept the gross value of the contract as evidence of income. All applicants must have a current continuous employment of 12 months or more with six months of the contract remaining or two years continuous service in the same type of employment.

The customer should be treated as self-employed if they have more than one contract, or where they've set up a limited company and employ other contractors.

Construction Industry Scheme Contractors (CIS)

For these customers, they'll need to provide an average of their latest 3 months income. They should be treated as self-employed if they pay their own tax or sub-contract to more than one company.

Zero-hours contracts

Applications from customers employed on a zero-hours contract will be considered. We'll only take income from the total of the last 12 calendar months into account income. Applicants will have to verify their income.

Professional sports people

Professional sports people will have to confirm they've either been in continuous employment for 12 months or more with six months of the contract remaining, or two years' continuous service as at the date of application in the same type of employment.

It's essential to verify these customers will be able to meet their monthly repayments as they near the end of their career or if their career's ended early because of injury.

Additional information:

Length of employment/self-employment

Income types

Self-employed applicants

Income types

For all applications, at least one of the customers' needs to have an earned income and/or pension income. All income sources must be recorded accurately. This includes all full years of self-employed income, PAYE, pension income, and all gross monthly rental. All income sources need to be within the UK.

There's no minimum income level.
Customers must be registered for UK tax.
Any residential mortgages must be covered by your customers' income.
Payslips must show the customer and employer name, pay date, basic income, gross and net pay, and any additional payments being used in affordability assessments.
We'll request an employer's reference where the customer can't supply our preferred documentation. This doesn't apply where the customer's employed in a family business
Hand-written payslips are only acceptable alongside bank statements to confirm the income paid by the employer.
Bank statements must show the customer's full name or initial, surname, and account number.
Internet bank statements must show bank heading/name and http address.

Income Type	Acceptable?	Main or Other	Key as	Evidence
Income Type Additional Duty Hours (including Additional Responsibility Hours)	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Adoption Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type AFC Absence	Acceptable? Yes	Main or Other Other	Key as Shift Allowance	Evidence Latest 3 months payslips
Income Type Airbnb	Acceptable? No	Main or Other	Key as	Evidence
Income Type Area Allowance	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslip(s)
Income Type Armed Forces Independence Payments (AFIP)	Acceptable? Yes	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type Attendance Allowance (State Benefit)	Acceptable? Yes	Main or Other Other	Key as Attendance Allowance	Evidence Latest Bank Statement or Benefit Award Letter
Income Type Attendance Allowance (Turning Up To Work)	Acceptable? No	Main or Other	Key as	Evidence
Income Type Bank Holiday Pay (only if it forms part of basic pay and doesn't inflate income)	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Basic Salary (including the probationary period of a permanent contract)	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Bereavement Allowance (previously Widows Pension. If State Widows Pension, please see below).	Acceptable? No	Main or Other	Key as	Evidence
Income Type Bonus (These must not be keyed unless they have actually been paid)	Acceptable? Yes	Main or Other Main	Key as Annual Guaranteed Bonus	Evidence Latest 3 months' payslips (or for incomes received less frequently than monthly all payslips showing this income for the latest 2 years)
Income Type Bounty Payment	Acceptable? No	Main or Other	Key as	Evidence
Income Type Bursary	Acceptable? No	Main or Other	Key as	Evidence
Income Type Call Out	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Car Allowance inc. Car Trade Down.	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type Carers Allowance	Acceptable? Yes	Main or Other Other	Key as Carers Allowance	Evidence Latest Bank Statement or Benefit Award Letter
Income Type Cash In Hand	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslip(s) and Bank Statement
Income Type CEA (Doctors Excellence Award)	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Child Benefit	Acceptable? Yes	Main or Other Other	Key as Child Benefit	Evidence Latest Bank statement or Benefit Award Letter
Income Type Child Tax Credit	Acceptable? Yes	Main or Other Other	Key as Child Tax Credit	Evidence Latest Bank statement or Benefit Award Letter
Income Type Commission	Acceptable? Yes	Main or Other Main	Key as Annual Regular / Guaranteed Commission	Evidence Latest 3 months' payslips (or for incomes received less frequently than monthly all payslips showing this income for the latest 2 years)
Income Type Competency Related Threshold Payment	Acceptable? Yes	Main or Other Main	Key as Annual Guaranteed Bonus	Evidence Latest 3 months' payslips (or for incomes received less frequently than monthly all payslips showing this income for the latest 2 years)
Income Type Constant Attendance Allowance	Acceptable? Yes	Main or Other Other	Key as Constant Attendance Allowance	Evidence Latest Bank Statement or Benefit Award Letter
Income Type Continual Professional Development (CPD)	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Council Tax Benefit	Acceptable? No	Main or Other	Key as	Evidence
Income Type Country Allowance	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type Danger Allowance	Acceptable? Yes	Main or Other Main	Key as Annual Regular Overtime	Evidence Latest 3 months payslips
Income Type Delivery Supplement	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Disability Living Allowance - not acceptable if received for a 3rd party e.g. dependent	Acceptable? Yes	Main or Other Other	Key as Disability Living	Evidence Latest Bank Statement or Benefit Award Letter
Income Type Dividends - For Company Director	Acceptable? Yes	Main or Other Main	Key as Self Employed	Evidence See Limited Company Director/Shareholder under Self Employed/Contractors section
Income Type Dividends - Investment Linked	Acceptable? No	Main or Other	Key as	Evidence
Income Type Employed in a Family Business: If less than 25% invested interest and does not receive dividends or net profit as part of their reward package (Treat as employed)	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslip(s), and corresponding bank statement(s)
Income Type Employment & Support Allowance (ESA)	Acceptable? Yes	Main or Other Other	Key as Employment and Support Allowance	Evidence Latest Bank Statement or Benefit Award Letter
Income Type Examiners Payroll	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Expenses	Acceptable? No	Main or Other	Key as	Evidence
Income Type Fire Warden Allowance	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type First Aid Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type FIT Payment	Acceptable? No	Main or Other	Key as	Evidence
Income Type Fixed Annuity Payments (Private)	Acceptable? Yes	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type Flexible Benefit (We accept 100% of benefit)	Acceptable? Yes	Main or Other Other	Key as Colleague Flexible Benefit	Evidence Latest 3 months payslips
Income Type Flight Attendant Allowance	Acceptable? Yes	Main or Other Other	Key as Flight Pay / Allowance	Evidence Latest 3 months payslips
Income Type Footwear Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type Forklift Premium	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Foster Care Income	Acceptable? Yes	Main or Other Main	Key as Self-Employed	Evidence Latest 2 years tax assessments
Income Type Gambling	Acceptable? No	Main or Other	Key as	Evidence
Income Type Get You Home Allowance	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Guardian Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type HDT Allowance (Home to Duty Travel)	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Healthcare Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type High Cost Area	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type HM Forces - Guaranteed Income Payment (GIP)	Acceptable? Yes	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type Holiday Pay (only if it forms part of basic pay and doesn't inflate income)	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Housing Allowance (where paid by employer only)	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type Housing Benefit	Acceptable? No	Main or Other	Key as	Evidence
Income Type Income Support	Acceptable? No	Main or Other	Key as	Evidence
Income Type Industrial Injuries Disablement Benefit	Acceptable? Yes	Main or Other Other	Key as Industrial Injuries Disablement Benefit	Evidence Latest Bank Statement or Benefit Award Letter
Income Type Insurance Payout	Acceptable? No	Main or Other	Key as	Evidence
Income Type Investment Income (Unless applicant already retired - see Pension Schemes for details)	Acceptable? No	Main or Other	Key as	Evidence
Income Type Key Holder Allowance	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Leave of Absence	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Living Wage Allowance	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Lodgers Income	Acceptable? No	Main or Other	Key as	Evidence
Income Type London Weighting	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type Long Separation Allowance	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type Long Service Pay	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Long Term Sick	Acceptable? No	Main or Other	Key as	Evidence
Income Type Lottery	Acceptable? No	Main or Other	Key as	Evidence
Income Type Lunch Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type Maintenance	Acceptable? Yes	Main or Other Other	Key as Maintenance	Evidence Latest 3 months Bank statements Court Order or Maintenance Assessment or letter from Child Support Agency (CSA)
Income Type Market Supplement	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Maternity Pay - providing the applicant will return to work on the same terms.	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslip(s) received prior to commencement of maternity
Income Type Medical Negligence Annuity Payments	Acceptable? No	Main or Other	Key as	Evidence
Income Type Military Reservist Allowance	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Mortgage Subsidy	Acceptable? Yes	Main or Other Other	Key as Mortgage Subsidy	Evidence Latest 3 months payslips
Income Type NHS Banding	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type NHS Enhanced Pay /Enhancements (EN) or (ENH)	Acceptable? Yes	Main or Other Other	Key as Shift Allowance	Evidence Last 3 consecutive payslips
Income Type Non Consol Pay NP	Acceptable? No	Main or Other	Key as	Evidence
Income Type Nursing Bank (Main Income)	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest 3 months payslips
Income Type Nursing Bank (Other Income)	Acceptable? Yes	Main or Other Other	Key as Nursing Bank	Evidence Latest 3 months payslips
Income Type Occupational Sick Pay	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Offshore Allowance	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type On Call Allowance	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Overtime	Acceptable? Yes	Main or Other Main	Key as Annual Regular Overtime	Evidence Latest 3 months payslips
Income Type Pension Supplement	Acceptable? Yes	Main or Other Other	Key as Colleague Flexible Benefits	Evidence Latest 3 months payslips
Income Type Pension Tax Credits	Acceptable? Yes	Main or Other Other	Key as Pension Credit	Evidence Latest Bank Statement or Pension Statement
Income Type Permanent Health Insurance (PHI) The term must not extend past the final payment date for PHI if affordability is based on this income only	Acceptable? Yes	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type Personal Independence Pay	Acceptable? Yes	Main or Other Other	Key as Personal Independence Pay	Evidence Latest Bank Statement or Benefit Award Letter
Income Type Petrol Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type Piecework	Acceptable? No	Main or Other	Key as	Evidence
Income Type Private Pension / Private Widowers Pension	Acceptable? Yes	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type Profit Related Pay	Acceptable? No	Main or Other	Key as	Evidence
Income Type Project Disbursement	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type Protection of Pay Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type Public Holiday Pay (only if it forms part of basic pay and doesn't inflate income)	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Recruitment and Retainment Pay	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Renewable Energy	Acceptable? No	Main or Other	Key as	Evidence
Income Type RHI Payment	Acceptable? No	Main or Other	Key as	Evidence
Income Type Savings	Acceptable? No	Main or Other	Key as	Evidence
Income Type Scholarship	Acceptable? No	Main or Other	Key as	Evidence
Income Type Scottish Island Allowance/Distant Island Allowance/Island Allowance	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type Seasonal Contract	Acceptable? No	Main or Other	Key as	Evidence
Income Type Secondment Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type SEN Allowance	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Shift Allowance	Acceptable? Yes	Main or Other Other	Key as Shift Allowance	Evidence Latest 3 months payslips
Income Type Sleepover Allowance	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Standby Allowance	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type State Pension	Acceptable? Yes	Main or Other Other	Key as Pension - State	Evidence Latest Bank Statement or Pension Statement
Income Type State Widows Pension. (Please see above if Bereavement Allowance).	Acceptable? Yes	Main or Other Other	Key as Pension - State	Evidence Latest Bank Statement or Pension Statement
Income Type Statutory Maternity Pay	Acceptable? No	Main or Other	Key as	Evidence
Income Type Statutory Sick Pay (if returning to work see Occupational Sick Pay)	Acceptable? No	Main or Other	Key as	Evidence
Income Type Stipend (Only acceptable for Clergy)	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Letter of confirmation from Religious Order
Income Type Tax Rebate	Acceptable? No	Main or Other	Key as	Evidence
Income Type Teaching and Learning Responsibility (TLR)	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Temporary Contract	Acceptable? No	Main or Other	Key as	Evidence
Income Type Term Time Allowance	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type The Thalidomide Trust Income	Acceptable? Yes	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type Tips	Acceptable? Yes	Main or Other Main	Key as Annual Regular Overtime	Evidence Latest 3 months payslips
Income Type Tool Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type Town Allowance	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type Travel Allowance	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type Tronc	Acceptable? Yes	Main or Other Main	Key as Annual Regular Overtime	Evidence Latest 3 months payslips
Income Type Trust Income	Acceptable? No	Main or Other	Key as	Evidence
Income Type Uniform Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type Universal Credit (The applicants on the mortgage must be the same as on the award letter and a joint income must be split between the applicants. Applicants must have an earned income for this income to be used. Any Housing Benefit shown on the award letter should be deducted from the income keyed as it will no longer apply)	Acceptable? Yes	Main or Other Other	Key as Universal Credit	Evidence Latest Benefit Award Letter
Income Type Unsocial Hours	Acceptable? Yes	Main or Other Other	Key as Shift Allowance	Evidence Latest 3 months payslips
Income Type War Disablement Pension	Acceptable? Yes	Main or Other Other	Key as Pension - War Disablement	Evidence Latest Bank Statement or Pension Statement
Income Type War Widow(er) Pension	Acceptable? Yes	Main or Other Other	Key as Pension - War Widow	Evidence Latest Bank Statement or Pension Statement
Income Type Widowed Parents Allowance	Acceptable? Yes	Main or Other Other	Key as Widowed Parents Allowance	Evidence Latest Bank Statement or Pension Statement
Income Type Widows Allowance	Acceptable? No	Main or Other	Key as	Evidence
Income Type Work Outside Normal Hours	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Working From Home Allowance	Acceptable? Yes	Main or Other Other	Key as Town / Area / Car Allowance	Evidence Latest months payslips
Income Type Working Tax Credit	Acceptable? Yes	Main or Other Other	Key as Working Tax Credit	Evidence Latest Bank Statement or Benefit Award Letter
Income Type Working Time Directive Payment (WTD)	Acceptable? Yes	Main or Other Other	Key as Additional Duty Hours	Evidence Latest 3 months payslips
Income Type Zero Hours Contract (The customer must have been employed on a zero hours contract for a minimum of 12 months (with the same employer or with different employers but in the same type of work))	Acceptable? Yes	Main or Other Main	Key as Basic Annual Income	Evidence 12 months' worth of payslips (this applies whether the applicant is paid weekly or monthly and could consist of P60 plus subsequent payslips to cover the full 12 month period)

Additional information:

Length of employment/self-employment

Rental income

Self-employed applicants

Contractors

Self-employed/contractors

Second job

Tax on rental income

Length of employment/ self-employment

Rental income

For employed, self-employed, and retired customers, all rental income and finance costs captured in the 'Land and property income' section of the application should match the customers' tax calculations from HMRC. You can find how to key this in our Hints & tips PDF (3.1MB).

To key a customer whose only source of income is from land and property

Select 'Occupation type' as 'Professional' and 'Employment type' as 'Self-Employed'.

You'll need to input a year end date and figures for their most recent and previous years. The most recent date can't be older than 18 months from the date of submission.

The remaining figures for net profit, turnover, gross profit, current assets, and current liabilities must be input as '£0'. Complete the 'Self-employment details' - including business name and accountant details - and the 'Add employment' section. The land and property profit figures from the tax calculation will then need to be entered into the land and property income section.

Any finance costs for the latest year will also need to be entered. The finance costs are referenced at the bottom of the tax calculation, as well on the individual's self-assessment tax return, and property income supplement (SA105).

For 'Can income be verified?', you must answer 'Yes'.

For all remortgages and further advances

The current rental amount of the property should be keyed on the application as the current monthly rent paid by the tenant.

For a buy to let purchase and let to buy remortgage

The current rental amount keyed will be the anticipated monthly rent of the property.

The gross monthly rent will need to be keyed into the property schedule screen for all buy to let properties owned by anyone named on the application.

A tenancy agreement or letter from the letting agent can be used to verify the rental income keyed in the Property schedule screen.

Additional information:

Tax on rental income

Affordability and sustainability

Income types

Self-employed applicants

Self-employed/contractors

Contractors

Second job

Self-employed applicants

Self-employed applicants must have been self-employed for a minimum of 2 years and be able to provide at least 2 years' worth of trading figures.

If any of the following applies, the applicant must be keyed as self-employed:

They have a shareholding of 25% or more.
If joint applicants both own a percentage share of 25% or more between them, treat them both as self-employed.
A sub-contractor who earns income from more than one contract.
They have a partnership interest in a business where income is not PAYE, regardless of the percentage shareholding.
They own a franchise.
They're employed by a private limited company (LTD) and receive a salary (PAYE) and dividends as part of their remuneration package.
They're in a limited liability partnership (LLP) and receive a share of net profits.

All self-employed income must be entered in the 'Net profit' field, except profit from UK Land & Property, which needs to be captured in the Land and property income section.

The net profit field should be completed as following:

Limited company - key total of salary/remuneration and dividends drawn as shown on tax calculation.
Partnership or LLP - key profit share percentage.
Sole trader - key net profits.

Documentation needed:

Latest 2 years' HM Revenue & Customs (HMRC) tax calculations and tax year overviews showing years and the applicants' name/initials.

Tax calculations are available in the applicants online self-assessment account. If they use these, the following details must be visible:

HMRC logo.
Unique Tax Reference (UTR).
Tax year where the most recent is no older than 18 months old.
Official wording that says: 'This is a copy of information held on your official online SA tax account with HMRC', and 'Submission is 100% complete.'

Online tax assessments from accountants' commercial software, accompanied by the corresponding tax year overviews are acceptable as long as they show:

UTR.
Customer's name.
Tax year where the most recent is no older than 18 months old.

The tax due figure on the tax calculation and tax year overview will usually match. If there is a difference in the tax figure, we might need updated documents.

The latest two years' full accounts must be finalised and clearly show the net profit for sole traders, the share of net profit for partnerships, or salary and dividends for directors of limited companies.

Profit and loss statements alone aren't acceptable.

The year end for all documents must be the most recent and not be dated more than 18 months before the date of application.

Additional information:

Self-employed/contractors

Affordability and sustainability

Second job

Self-employed/contractors

Income Type	Acceptable?	Main or Other	Treat as	Evidence
Income Type Contractor - If applicant earns more than £500 per day or £75,000 per annum - providing 12 months or more continuous employment with 6 months of contract remaining OR 2 years continuous service (for the last 2 years at the date of the application) in the same type of employment	Acceptable? Yes	Main or Other Main	Treat as Basic Annual Income	Evidence Copy of the contract and latest months personal/business bank statement(s) showing the salary credit
Income Type Contracts - Fixed / Short / Temporary - If Company Paying Tax (Excluding CIS contractors) - providing 12 months or more continuous employment with 6 months of the contract remaining OR 2 years continuous service (for the last 2 years at the date of the application) in the same type of employment	Acceptable? Yes	Main or Other Main	Treat as Basic Annual Income	Evidence Latest months payslip(s)
Income Type Contracts Fixed / Short / Temporary - If Customer Paying Tax	Acceptable? Yes	Main or Other Self Employed	Treat as See Self Employed Applicants	Evidence Last 2 years Tax Calculations and corresponding Tax Year Overviews
Income Type IT Contractors - providing 12 months or more continuous employment with 6 months of the contract remaining OR 2 years continuous service (for the last 2 years at the date of the application) in the same type of employment	Acceptable? Yes	Main or Other Main	Treat as Basic Annual Income	Evidence Copy of the IT Contract and latest months personal/business bank statement(s) showing the salary credit
Income Type CIS Contractors - If Company Paying Tax key as employed providing 12 months or more continuous employment with 6 months of contract remaining OR 2 years continuous service (for the last 2 years at the date of the application) in the same type of employment	Acceptable? Yes	Main or Other Main	Treat as Basic Annual Income	Evidence Latest three consecutive months payslip/invoices (this applies whether the applicant is paid weekly or monthly) and three months corresponding bank statements. P60/Payslips If no income is received or the customer is unable to provide evidence of income then 'zero' income must be used for that month
Income Type CIS Contractors - If Customer Pays Own Tax or has more than one contract or is employed by Ltd company he/she has set up then treat as Self Employed	Acceptable? Yes	Main or Other Self Employed	Treat as See Self Employed Applicants	Evidence Last 2 years Tax Calculations and corresponding Tax Year Overviews
Income Type Employed in a Family Business Equal to or greater than 25% Invested interest and/or receives dividend or net profit as part of their reward package(Treat as Self Employed)	Acceptable? Yes	Main or Other Self Employed	Treat as See Self Employed Applicants	Evidence Last 2 years Tax Calculations and corresponding Tax Year Overviews
Income Type Ltd Company - Director/Shareholder - Wanting to use - Basic PAYE salary ONLY less than 25% shareholding (Treat as employed)	Acceptable? Yes	Main or Other Main	Treat as Basic Annual Income	Evidence Latest months payslip(s)
Income Type Ltd Company - Director/Shareholder - Wanting to use - Basic PAYE salary ONLY Equal to or greater than 25% shareholding (Treat as self employed)	Acceptable? Yes	Main or Other Self Employed	Treat as See Self Employed Applicants	Evidence Last 2 years Tax Calculations and corresponding Tax Year Overviews
Income Type Ltd Company - Director/Shareholder - Wanting to use - Basic PAYE salary + dividends ONLY Irrespective of share holding (Treat as Self Employed)	Acceptable? Yes	Main or Other Self Employed	Treat as See Self Employed Applicants	Evidence Last 2 years Tax Calculations and corresponding Tax Year Overviews
Income Type Ltd Company - Director/Shareholder - Wanting to use - Basic PAYE salary + Net Profits ONLY irrespective of share holding (Treat as Self Employed) Note: Net Profits cannot be used without referral to Underwriters	Acceptable? Yes	Main or Other Self Employed	Treat as See Self Employed Applicants	Evidence Last 2 years Tax Calculations and corresponding Tax Year Overviews
Income Type Self employed - Sole Trader	Acceptable? Yes	Main or Other Self Employed	Treat as See Self Employed Applicants	Evidence Last 2 years Tax Calculations and corresponding Tax Year Overviews
Income Type Self employed / Share holding of a Non Ltd Company (ie Partnership) Taxable Income	Acceptable? Yes	Main or Other Self Employed	Treat as See Self Employed Applicants	Evidence Last 2 years Tax Calculations and corresponding Tax Year Overviews
Income Type Partner of LLP receiving profit share as part of their salary package Irrespective of share of equity (Treat as Self employed)	Acceptable? Yes	Main or Other Self Employed	Treat as See Self Employed Applicants	Evidence Last 2 years Tax Calculations and corresponding Tax Year Overviews
Income Type Employee of LLP - not equity shareholding partner. (Treat as employed)	Acceptable? Yes	Main or Other Main	Treat as Basic Annual Income	Evidence Latest months payslip(s)
Income Type Seasonal Contract	Acceptable? No	Main or Other	Treat as	Evidence
Income Type Piecework Contract	Acceptable? No	Main or Other	Treat as	Evidence

Tax on rental income

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Lending

Assignable contracts

Bankruptcies

Business/consumer buy to let

Concessionary (discounted) purchase

County Court Judgements (CCJs)

Credit score decline appeals

Dependants

Deposits

The source of all customer deposits must be captured, and proof must be retained for all buy to let applications, other than remortgages.

The deposit should come from the customers' own resources. A builder's deposit of up to 5% of the purchase price is allowable on new build property applications if the LTV is 75% or less. The valuer must be aware of any incentive and make a note of it in the valuation report.

For certain applications, you'll need to verify the deposit. Evidence will also be needed if the application needs an underwriter review, and/or a message is displayed at DIP submission and the additional requirements section of the Submit application results screens at full application.

We can't accept the following as deposit sources:

Any deposit coming from a business current account, business loan, or directors' loan account.
Vendor gifted deposits.
Personal loans.
Second charges.
The Forces Help to Buy scheme (Long Service Advance of Pay) for military personnel.

We can accept the following as deposit sources, as long as they can be verified

Equity

The credit file should confirm a mortgage already exists.
If no mortgage can be confirmed on the credit file, request a copy of the most recent mortgage statement. This must be dated within the last 12 months.
We'll also request the sales details for the property to verify its value.

If the customer is remortgaging or taking a further advance on an existing property with us, and the funds will be used as a deposit, we'll need to view the funds in an account or an offer guaranteeing the lending.

Gift

Gifted deposits are only acceptable from family. They must be non-repayable. The property can't be let out to, or purchased from, a family member. Evidence of the source of deposit must be kept on record in all cases.

Purchases between family members are acceptable, as long as the property's sold at market value and the buyer is a UK resident. Deposits for these types of sale can't be gifted.

You'll need to provide a signed letter written by the donor within three months of the mortgage application

It must include:

BM Solutions/Birmingham Midshires address.
The address of the property being bought.
All customers' names.
The donor's full name and address, and relationship to the customer.

It must confirm:

The deposit amount.
That the donor understands the deposit is non-repayable and they'll hold no interest in the property after mortgage completion.

You must also provide the latest UK bank statement or passbook showing evidence of the deposit funds in the donor's or customers' UK bank account. Alternatively, a letter from the donor's or customers' UK bank confirming the funds are available can be provided.

Additional statements or other documents can be requested if needed.

View our gifted deposit letter template

A family member is someone who is related to at least one of the customers:

by birth/blood relative
by marriage or civil partnership, including step-children, adopted children and in-laws
as common law' partners or co-habitants.

Acceptable	Not Acceptable
Acceptable Parents, step parent, parents in laws	Not Acceptable Family Friend
Acceptable Brothers and sisters, half brothers and sisters, step brothers and sisters, brother and sister in laws	Not Acceptable Employer
Acceptable Grandparents, step grandparents	Not Acceptable Developer/ Landlord
Acceptable Auntie/Uncle (related by blood) Niece/ Nephew	Not Acceptable Auntie/Uncle (related via marriage)
Acceptable Partners living with applicant either common law or co-habitee	Not Acceptable Cousins
Acceptable Applicants' children, step children, son and daughter in laws and adopted children	Not Acceptable Foster/Guardian children

Inheritance

We may request up-to-date UK bank statements or a passbook showing evidence of the inheritance, if needed.

View Savings for more details

Previous property sale

Please use the guidance in the Equity or Savings sections.

UK savings

If requested, you'll need to provide current account, ISAs, or savings account statements as a minimum. You must show at least three months' statements or latest annual statement with the customers' names, sort code, account number and provider name clearly visible.

The latest statement must show a closing balance covering the deposit required. If there are any recent large or unusual deposits into the account, you'll need to confirm where they came from. This might mean obtaining further documents

If funds are from a business account, you must obtain confirmation from the company accountant that the withdrawal won't have a negative impact on the business.

Shares

Please obtain:

a certified copy of Share Certificate showing customers' name and address
evidence of current share value calculation showing the value of shares.

Premium bonds

You'll need to provide:

Premium bond certificate showing the name of the customer and the value of premium bonds held.
Additional documents to verify the customer's name and address is the same as customer named on the certificate.

Passbooks

should show customers' names and account numbers
should be in the same name as at least one of the customers named on the new mortgage
should show at least the latest three months' transactions and the closing balance must cover the deposit required.

If there are any recent large or unusual deposits into the account, you'll need to confirm where they came from. This might mean obtaining further documents.

Additional information:

Builder cash incentives

First-time buyer/first-time landlord

Letting criteria

The property can be let on:

a single assured shorthold tenancy in England
an occupation contract in Wales,
a private residential tenancy in Scotland
a private tenancy in Northern Ireland under the provisions of the Private Tenancies (Northern Ireland) Order 2006.

The minimum tenancy term is six months. The maximum tenancy term is normally 36 months. A maximum tenancy of five years is acceptable under a Dept for Levelling Up, Housing and Communities (DLUHC) model agreement of September 2014 (or as amended) or the Scottish Equivalent.

A BTL remortgage application can't be started without a tenant in place. A tenancy agreement must also be in place. If a tenancy is about to start, the applicant must have a tenancy agreement dated within 14 days of the application confirming the expected rental income.

The property can be let to a company on a corporate let. The maximum term for this is 12 months. Our consent isn't needed to renew the tenancy. But the occupiers need to be named on the tenancy and must be employees of the tenant company.

The maximum number of unrelated tenants is five. They must all be named on the agreement. It's the landlords' responsibility to make sure all legislation is complied with, including (but not restricted to) legislation relating to Tenancy Deposit schemes and HMOs (Houses in Multiple Occupation).

For larger properties, where there is a potential of more than five lettable rooms, the valuer must be satisfied the property and local market reflects single family letting arrangements.

Properties subject to Local Authority Homes in Multiple Occupation (HMO) licensing might be acceptable, subject to the valuer's assessment of suitability based on our requirements.

We can't accept tenants in the following categories:

Asylum seekers.
Persons who have or might acquire diplomatic immunity.
Social landlords, such as housing associations.
Holiday lets.
Rent act protected tenants.
Agents of any of the above.
Family members.

The tenancy agreement must provide that assignment or sub-lettings to tenants in these categories are not allowed.

Multiple tenancies, where each tenant signs a separate agreement, aren't acceptable.
If the property is in Scotland, the landlord must register with the relevant local authority.
Leaseback and sale properties aren't acceptable.
Limited company purchases or Trust Deed applications aren't acceptable.
The property can't have any occupancy restrictions.
Applications won't be accepted where a second charge is being completed at the same time as the BTL application.

Additional information:

Houses in multiple occupation

Lending limits

Min/max age

Min/max term

Mortgage arrears

Mortgage-free/unencumbered properties

Notional stress rates

Portfolio landlords

A portfolio landlord application is where the applicants' have four or more mortgaged BTL properties, including the new transaction. This is based on the total number held by everyone named on the application.

Here's an example of how it works

Two applicants are buying a property together. Applicant 1 already has two mortgaged BTL properties, and applicant 2 has one mortgaged BTL property.

In total, they'll have four properties between them, including the one they're buying together, so the application is classified as a portfolio landlord.

Mortgaged BTL properties include those held in a personal name, limited company name, or any other legal entity.

Our process

Submit all applications online at BM Solutions.
A question will be asked to find out the number of mortgaged BTLs on the application.
3 or less, including the new application, will continue as current process.
4-10, including the new application, will need proof of income and supporting documents to be uploaded.
If mortgaged properties within the portfolio are held in a limited company, we'll need the latest mortgage statement or mortgage offer, if completed in the last 12 months.
Full information about the portfolio must be keyed.

Information needed includes:

Addresses.
Year built and year of purchase.
Original purchase price.
Gross monthly rent.
Estimated property valuation.
Whether property is leasehold, managed, and mortgaged.

Your application will not progress until all of the above has been fully completed - including completion of the portfolio details screen in the full application.

Portfolio landlords criteria

No more than 10 BTL mortgaged properties, including the new application.
Minimum income of £30,000 each application from employment, self-employment, property portfolio profit, or pension/investment income.
Maximum aggregate portfolio* of 75% LTV.
Minimum aggregate portfolio rental cover ratio of 145% stressed at 5.5%.
Property must meet standard criteria.
Please check the maximum amount the customer can borrow here

* Based on the entire portfolio, including acquiring property and any unencumbered let property.

Unencumbered let properties

These aren't included in the total mortgaged BTL properties. But the rent and property value must be declared in the property schedule and portfolio details sections of the application.

Finance costs

Since 06 April 2020, tax relief on finance costs for landlords of residential properties is restricted to basic rate of income tax, regardless of which tax band the landlord falls into. Accordingly, profit from land and property as it appears on a tax calculation no longer has finance costs deducted.

You'll need to input the latest year's finance costs on the application.

Portfolio landlord help and support

If you need any help with an application, get in touch with our specialist team. You'll get your own dedicated case handler, who will contact you once you submit your application.

Call: 0345 6020914

Additional information:

Lending limits

Remortgage and capital raising

Repayment methods

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Property

Builder cash incentives

Buy to let property address

Cladding

Condition

Construction

Distressed sale and leaseback

Energy performance certificate

Exposure limits

Free valuations

Houses in multiple occupation

Inherited properties

Japanese knotweed

New build

Revised property details

Scottish valuations

Sub-sales and back-to-back transactions

Tenure

Freehold and leasehold houses are acceptable. Leasehold properties must have a minimum of 70 years left on the lease at application.

If a property's been converted into no more than four units or is within a purpose-built block, any leases should already be in place and not created at the same time as the mortgage application.

We'll consider lending in these situations:

Tenure is leasehold and the applicant does not own the freehold or share of freehold:

The conveyancer will make sure the lease meets our standard requirements.

Tenure is leasehold and the applicant owns/will own the freehold of the whole building on completion:

Our charge must be registered on the freehold of the whole building and the leasehold interest of the unit. The conveyancer will make sure the lease meets our standard requirements.
The mortgage must be in the same name as the freehold and leasehold titles. It's not acceptable to hold the freehold in a Ltd company with the customer as sole director, majority shareholder, or with any family member.
It's only acceptable for the customer to own one unit in the whole building, including any new application.

Tenure is leasehold and the applicant owns / will own on completion a share of the freehold of the whole building:

Our charge must be registered on the leasehold interest only. The conveyancer will make sure the lease meets our standard requirements.
It's only acceptable for the customer to own one unit in the whole building, including any new application.

Tenure is freehold:

The security will be registered on the freehold of the whole building and processed as a freehold house.
The applicant must own the freehold in their own name.
The mortgage and freehold title must be in the same name. It's not acceptable to hold the freehold in a Ltd Company with the customer as sole director, majority shareholder, or with any family member.
All units other than the freehold unit on which we're lending must have a minimum lease of 70 years.
It's only acceptable for the customer to own one unit in the whole building, including any new applications.

For developments of more than four units:

Tenure must be leasehold.
A management company must be in place.
Our customer can hold a share in the management company.
The conveyancer will make sure arrangements in connection with the management company are acceptable.
Our mortgage must be registered on the leasehold title.

Unacceptable construction types

Use of property

Valuation

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Existing customer

Arrears

Early repayment charges

Further advances

Overpayments

Payment holidays

Portability

Product transfers

Product transfer timescales

Product transfers can be submitted at any time in the month. The earliest a product transfer can start is the 1st of the following month.

If your customer is within the last three months of an existing product, you can choose to start the new product early. If you select this option, we'll waive any early repayment charge (ERC). You can also choose to forward date the new product to start after the current product has ended.

If the account has multiple sub-accounts with different ERC periods, you can only complete a product transfer application on the sub-account with the ERC expiring the soonest.

When your customer is within the last 4 months of an existing product, you can choose to select a new product and forward date the new product to start after the current product has ended.

Example keying dates

Product expiry	Keying from	Options for start date
Product expiry 28 February	Keying from 01 November	Options for start date 01 March
Product expiry	Keying from 01 December	Options for start date 01 January or 01 March
Product expiry	Keying from 01 January	Options for start date 01 February or 01 March
Product expiry	Keying from 01 February	Options for start date 01 March
Product expiry 31 March	Keying from 01 December	Options for start date 01 April
Product expiry	Keying from 01 January	Options for start date 01 February or 01 April
Product expiry	Keying from 01 February	Options for start date 01 March or 01 April
Product expiry	Keying from 01 March	Options for start date 01 April

Regulated mortgages

Transfer/purchase of equity

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Top slicing

Minimum top slicing criteria

Process

Income and affordability

All sustainable income must be entered online.

All income evidence must be submitted and verified before an offer can be issued.

The following income will be used for our top slicing assessment.

Employed

Income Type	Main or Other	Key as	Evidence
Income Type Bank Holiday Pay (only if it forms part of basic pay and doesn't inflate income)	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Basic Salary (including the probationary period of a permanent contract)	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Bonus (These must not be keyed unless they have actually been paid)	Main or Other Main	Key as Annual Guaranteed Bonus	Evidence Latest 3 months' payslips (or for incomes received less frequently than monthly all payslips showing this income for the latest 2 years)
Income Type Cash In Hand	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslip(s) and Bank Statement
Income Type CEA (Doctors Excellence Award)	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Commission	Main or Other Main	Key as Annual Regular / Guaranteed Commission	Evidence Latest 3 months' payslips (or for incomes received less frequently than monthly all payslips showing this income for the latest 2 years)
Income Type Competency Related Threshold Payment	Main or Other Main	Key as Annual Guaranteed Bonus	Evidence Latest 3 months' payslips (or for incomes received less frequently than monthly all payslips showing this income for the latest 2 years)
Income Type Danger Allowance	Main or Other Main	Key as Annual Regular Overtime	Evidence Latest 3 months payslips
Income Type Delivery Supplement	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Dividends - For Company Director	Main or Other Main	Key as Self Employed	Evidence See Limited Company Director/Shareholder under Self Employed/Contractors section
Income Type Employed in a Family Business: If less than 25% invested interest and does not receive dividends or net profit as part of their reward package (Treat as employed)	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslip(s), and corresponding bank statement(s)
Income Type Foster Care Income	Main or Other Main	Key as Self Employed	Evidence Latest 2 years tax assessments
Income Type Holiday Pay (only if it forms part of basic pay and doesn't inflate income)	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Leave of Absence	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Living Wage Allowance	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Long Service Pay	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Market Supplement	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Maternity Pay - providing the applicant will return to work on the same terms.	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslip(s) received prior to commencement of maternity
Income Type NHS Banding	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Nursing Bank (Main Income)	Main or Other Main	Key as Basic Annual Income	Evidence Latest 3 months payslips
Income Type Occupational Sick Pay	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Overtime	Main or Other Main	Key as Annual Regular Overtime	Evidence Latest 3 months payslips
Income Type Public Holiday Pay (only if it forms part of basic pay and doesn't inflate income)	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Stipend (Only acceptable for Clergy)	Main or Other Main	Key as Basic Annual Income	Evidence Letter of confirmation from Religious Order
Income Type Teaching and Learning Responsibility (TLR)	Main or Other Main	Key as Basic Annual Income	Evidence Latest months payslips
Income Type Tips	Main or Other Main	Key as Annual Regular Overtime	Evidence Latest 3 months payslips
Income Type Tronc	Main or Other Main	Key as Annual Regular Overtime	Evidence Latest 3 months payslips
Income Type Zero Hours Contract (The customer must have been employed on a zero hours contract for a minimum of 12 months (with the same employer or with different employers but in the same type of work))	Main or Other Main	Key as Basic Annual Income	Evidence 12 months' worth of payslips (this applies whether the applicant is paid weekly or monthly and could consist of P60 plus subsequent payslips to cover the full 12 month period)

Pension

Income Type	Main or Other	Key as	Evidence
Income Type Armed Forces Independence Payments (AFIP)	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type Fixed Annuity Payments (Private)	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type HM Forces - Guaranteed Income Payment (GIP)	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type Pension Tax Credits	Main or Other Other	Key as Pension Credit	Evidence Latest Bank Statement or Pension Statement
Income Type Permanent Health Insurance (PHI) The term must not extend past the final payment date for PHI if affordability is based on this income only	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type Private Pension / Private Widowers Pension	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type State Pension	Main or Other Other	Key as Pension - State	Evidence Latest Bank Statement or Pension Statement
Income Type State Widows Pension. (Please see above if Bereavement Allowance).	Main or Other Other	Key as Pension - State	Evidence Latest Bank Statement or Pension Statement
Income Type The Thalidomide Trust Income	Main or Other Other	Key as Pension - Private	Evidence Latest Bank Statement (where paid gross) or Latest Pension Statement / Latest months payslip(s) or Pension P60
Income Type War Disablement Pension	Main or Other Other	Key as Pension - War Disablement	Evidence Latest Bank Statement or Pension Statement
Income Type War Widow(er) Pension	Main or Other Other	Key as Pension - War Widow	Evidence Latest Bank Statement or Pension Statement

Self-employed/contractors

All self-employed income must be entered in 'Net profit' to calculate the correct affordability. It's important to enter turnover and gross profit if the customer has them. If they don't have or know these figures, please enter £'0'.

For contractors who earn more than £500 per day or £75,000 a year, the gross value of their contract is calculated as either:

daily rate on the contract x 5 days per week x 46 weeks per year
hourly rate x 7 hours per day x 5 days per week x 46 weeks per year.

If their contract states their hours are lower than these, please use the figures provided.

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