The mortgage is available for non-standard construction types (eg timber frame/clad) providing it complies with our ecological requirements, buildings insurance can be obtained, and the valuer confirms the condition and marketability of the property are satisfactory.
Archives: FAQ - Mortgages
Does the property need to be my main residence?
Yes. Please bear in mind that we don’t offer mortgages for second homes, holiday homes or homes classed as mobile planning.
Do I need a warranty on my property?
If the property was built in the last 10 years, the property must have an acceptable build warranty or a Professional Consultant’s Certificate, for any property constructed more than 10 years ago, this is not required.
What is the minimum EPC rating to qualify?
The property must have a minimum EPC rating of C or higher to be eligible for this product. If the property is a new build and not yet fully completed, please provide a copy of the predicted energy assessment.
What information do I need to apply?
To speak to our friendly mortgage advisors, you’ll need to provide your financial details to obtain a decision in principle. When you’re ready to fully apply, you’ll need to have a specific property in mind. When you’re ready to apply for the mortgage, we’ll ask you for:
- Income & expenditure documents
- A copy of the Energy Performance Certificate (EPC) for the property
- A copy of the build warranty or building certificate (if applicable)
- A copy of your discounted market sale agreement (sometimes known as a section 106 agreement)
Am I eligible to buy a DMS property?
Eligibility varies by scheme, but you typically must:
- Be a first-time buyer (or not currently own a property)
- Live or work in the local area
- Meet income or affordability criteria
- Intend to live in the property (not rent it out)
Check with your local authority or housing provider for exact criteria.
What is a discounted market sale home?
A DMS property is a home sold at a discount from the full market value, usually between 20% and 50%, to help eligible buyers afford homeownership. The discount is typically offered by a local authority or housing provider and stays with the property, even when you sell it later.
What deposit do I need?
You will need a minimum deposit for a purchase of 5% or for a remortgage a minimum of 5% of equity remaining in the property.
