• What types of applications are acceptable/not acceptable?

    We encourage you to send in applications for the following:

     

    • To purchase residential properties for owner-occupation
    • To remortgage residential properties for owner-occupation
    • To improve, repair or maintain residential properties that are owner-occupied
    • To purchase the equity of another party to the mortgage
    • To purchase property through Co-Ownership housing
    • Staircasing for Co-Ownership buy-out

     

    We do not accept applications for the following types:

     

    • Buy to let properties
    • Self-build properties
    • Loans used for bridging finance
    • Business investments
    • Payment of taxes
    • Replenishment of savings and investment in timeshares
  • What deposit is required?

    Click here to view the deposits required on our products

  • What proof of deposit is required?

    We will require evidence of the deposit / balance of purchase price in one of the following formats:

     

     

    • Statements of savings/deposit accounts
    • Evidence of investment products to be liquidated
    • In the case of gifted deposits, clear evidence of ability to provide funds together with confirmation from donor that gift is not repayable in the future. You will find our Gift certificate here.

  • What repayment options are available?

    We only accept applications on a capital and interest repayment basis.

    We do not accept applications on an interest only basis.

  • What proof of income is required?

    Only income earned in Pounds Sterling (£) from employment / investments in the UK will be accepted for affordability purposes. 

     

    Employees Self Employed
    • Certified copy of most recent 3 months’ payslips
    • Certified copy of latest P60
    • Certified copies of 3 months bank statements from immediately before application (N/A where current account is with First Trust Bank)
    • Include Regular / Proven / sustainable:
      • Overtime
      • Bonuses (if annual, must be proven over a 3 year period)
      • Allowances

     

    Note: If your Switcher customer:

     

    1. Is an existing First Trust Bank Customer; and
    2. Has a LTV of ≤ 90%; and
    3. Has a max 3.5 times LTI; and
    4. Has their salary mandated to their First Trust Bank current account,

    there is a reduced requirement for employment documentation - One up to date payslip only.

     

    We will accept 100% of proven sustainable overtime/bonus/allowances, however applications should not have a heavy reliance on these as a source of monthly income.

    • 3 years signed Financial Accounts (Certified / Audited)
    • Certified copy of 3 months business bank statements from immediately before application (N/A where current account is with First Trust Bank)
    • Certified copy of 3 months personal current account statements from immediately before application
    • A letter from the customer’s accountant confirming tax affairs are up to date
     

     

    Note: Where it is not possible to obtain original payslips and bank statements, photocopies or electronic versions may be relied upon provided these can be cross verified.

  • What other documentation should accompany the mortgage application?

    • Certified copies of original identification enclosed (e.g. Passport or Driving Licence) which are valid and in date
    • Certified copies of original address identification which are valid and in date (e.g. Bank statement / recent utility bill issued up to 3 months ago)
    • Evidence of deposit
    • Printed copy of affordability calculation
  • What insurance is required prior to drawdown?

    Home insurance

     

    The borrower is responsible for insuring the mortgaged property against fire to the full reinstatement value of the property, index linked.

     

    Copy of schedule of appropriate buildings insurance will be required prior to drawdown of the mortgage facility.

  • What fees apply?

    You can see a full list of our fees and charges here.

  • What rates apply?

    You can see a full list of our interest rates here.

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