Criteria update:

We're updating our criteria to help even more customers

Hey there,

You said, so we did. We've updated a whole load of our residential criteria to help more customers buy and remortgage the home of their dreams.

Here's a quick rundown of all our latest updates 👇

Deposits from abroad

Have an applicant who'd like to use a deposit from abroad? Or who's receiving a helping hand from overseas? We'll consider deposits from abroad as long as you can provide evidence of the true source of the deposit dated within the last 6 months.

Licensed conveyancers on purchases

We can now consider licensed conveyancers on purchase applications, meaning your customers can benefit from lower conveyancing costs. We can also accept search indemnity insurance.

Applicants in their probation period

We'll consider applicants who are in their probation period, as long as they have 3 months of continuous employment and it isn't their first role.

And it doesn't stop there 

Here's a summary of our other updates

Remaining leases

We can lend on properties with 70 years of the lease remaining at the point of completion.

NHS trainee doctors on fixed-term contracts

We've reduced our document requirements, meaning you'll only need to provide their latest payslip and a copy of their contract. And, for doctors who have completed their first year of training (F1 UK Foundation Programme), we can consider any higher income on an onward contract for affordability purposes. We'll require a payslip showing the higher income before completion.

Sole applicants

We'll consider sole applicants with a residing partner if the mortgage and deeds show only the sole applicant.

Got a question?

Get in touch with our team of experts.

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0800 260 5949‬
hello@mpowered.co.uk

For intermediaries only.

Other lending criteria apply.