Buy to Let mortgage
In this application form, references to ’we’, ’us‘ and ’our‘ are references to Northern Rock (Asset Management) plc and includes our successors or assigns.
To transfer an existing NRAM mortgage to a new Buy to Let property. This application form is to be used for transferring an existing NRAM mortgage to a new Buy to Let property only. Version: 02/13 Buy to Let mortgage application 1/36 BNA0152V5
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We aim to make it as easy as possible for you to transfer your existing mortgage to a new property, so please read the following notes before you start. If you have any questions, our staff will be pleased to help you. Our helpline number is 0845 609 9610* *Lines are open Monday to Friday 8:30am-6:00pm (excluding bank holidays). Calls are charged at your service provider’s prevailing rate and may be monitored and recorded.
Important customer information: If you provide all the information we ask for it will speed up the application process – only when this form and your valuation/administration fees have been received by us, can we process your application You may not have to answer all the sections in this form depending on your requirements or circumstances – we will be happy to advise you about this Please use block capitals and black ink and initial any alterations you need to make For joint mortgage applications you will need to complete both columns where necessary If there are more than two applicants, they will need to complete an extra Buy to Let mortgage application form If you need extra space you may use Part 6: Additional Information Please note that it is an offence to knowingly give false, inaccurate or misleading information when applying for a mortgage. If you give such information, you may face criminal prosecution and/or civil action for the recovery of any losses we incur. Customers with a disability: We are is committed to providing customers with a quality service. If you have a disability, we can offer you facilities that may help you conduct your business with us. If you have any special requirements, or need information in an alternative format, for example, Braille, audio tape, large print, please call our Disability Awareness Team on 0845 609 9610 or you can contact us at
[email protected]
Account numbers
(for existing customers only) First applicant
a
Which accounts do you already have with Northern Rock (Asset Management) plc?
b
Please give the account numbers
Residential Mortgage
Second applicant Unsecured Personal Loan
Buy to Let
Residential Mortgage
Unsecured Personal Loan
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
Buy to Let
Buy to Let mortgage application 2/36
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For Intermediary/Adviser use only Confirmation of identity Please note, for face-to-face verification one piece of name ID and one piece of address ID is required. For non face-to-face verification, an additional piece of ID (either name or address) will also be required. First applicant Second applicant a
Money Laundering: please confirm how you verified the applicant(s) identity
b
Details verification: please confirm what documentation you have seen to confirm the identification of the applicant(s) Please note that a driving licence or state pension/benefits book may be used as evidence for address OR identity, but not both. Photocopies are acceptable, but must be certified as ‘originals seen’, signed and dated. If ‘other’, please specify
Non Face-to-face
Face-to-face
Face-to-face
Non Face-to-face
Name verification:
Name verification:
Current signed passport or EEA Member State Identity Card
Current signed passport or EEA Member State Identity Card
Name verification: Current UK/EEA photocard, or old style current UK full driving licence
Name verification: Current UK/EEA photocard, or old style current UK full driving licence
Shotgun or firearms certificate
Shotgun or firearms certificate
Inland Revenue tax notification
Inland Revenue tax notification
State pension or benefits book
State pension or benefits book
Sub Contractors’ Certificates CIS4 and CIS6
Sub Contractors’ Certificates CIS4 and CIS6
Other
Other
Address verification:
Address verification:
Most recent mortgage statement
Most recent mortgage statement
Council Tax/Local rates bill
Council Tax/Local rates bill
Bank/building society statement
Bank/building society statement
Utility bill (not mobile phone)
Utility bill (not mobile phone)
Current UK/EEA photocard, or old style current UK full driving licence
Current UK/EEA photocard, or old style current UK full driving licence
State pension or benefits book
State pension or benefits book
Other
Other
Before signing this Declaration, please check that a separate section of Part 5 has been fully completed for each Buy to Let mortgage/property:
Intermediary/Adviser Declaration I confirm that in submitting this application, I have read and agree to the terms & conditions of Northern Rock (Asset Management) plc Intermediary Agreement (a copy of this has either been sent to you, can be provided on appointment or can be accessed in the ‘Intermediary Useful Downloads’ area of our website: www.northernrockassetmanagement.co.uk). Confirmation of identity: I confirm that I have verified the identity of the applicant(s) named in Part 1 of this form. I have included documents suggested by the anti-Money Laundering Guidelines as acceptable to verify identity and address. This is shown in question b. I understand that an Offer of Loan cannot be issued without this completed section. Signature
Date
Name Position
Firm name and address Post code Telephone
Fax
Email
Your Panel ‘P’ number Mortgage Club Reference
Firm’s FSA ref. number
Principal’s/Network’s FSA ref. number (for standard mortgages if you are an Appointed Representative)
Please note: We reserve the right to seek additional information where we believe the lending risk needs further investigation and to carry out occupation and income reasonability checks on any case at application stage. We will, from time to time, seek retrospective confirmation of income for loan performance monitoring purposes. This is in accordance with FSA Best Practice guidelines. These checks will involve contacting employers, accountants or the Inland Revenue in some instances. It is an offence to knowingly give false, inaccurate or misleading information when applying for a mortgage. If you give such information you may face criminal prosecution and/or civil action for recovery of any losses we incur.
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1
Your details
About you (all applicants) First applicant 1
Second applicant
Title / Surname e.g. Mr, Mrs, Miss, Ms, Dr, Rev, other
2
Your first name(s)
3
Date of Birth in six digits e.g. 06/09/75
4
Marital status
5
Nationality
6
Sex
7
Previous name(s), maiden name or any other name(s) by which you are known, or have been known within the last six years
8
Permanent address including postcode
/
/
/
/
Single
Married
Divorced
Single
Married
Divorced
Widowed
Separated
Co-habiting
Widowed
Separated
Co-habiting
Male
Female
Male
Female
As First applicant
Postcode
9
Telephone numbers including STD codes
Postcode
Home
Home
Mobile
Mobile
Work
Work
Preferred contact time:
PM
AM
Preferred contact time:
Evening
PM
AM
Evening
10 Email address 11 When did you move to your permanent address? If less than 3 years ago: please tell us your previous address(es) over the last 3 years, and how long you lived there Give your most recent address first; if you need space for more than one previous address, please use Part 6: Additional Information 12 At your permanent address, are you: If ‘other’, please specify
/
/
/
Postcode From:
/
Owner occupier
/
To:
Yes
Postcode /
Living with family/friends
Tenant
Other
13 Do you have a mortgage on this property?
/
As First applicant
/
From:
/
Owner occupier
/
To:
/
/
Living with family/friends
Tenant
Other No
Yes
No
Questions 14 to 20 are only applicable if you already have any residential (not including Buy to Let) mortgage(s) If you have more than one residential mortgage, please give the same details in Part 6: Additional Information First applicant
Second applicant
14 Name and address of mortgage lender
As First applicant
Postcode
Postcode
15 Mortgage account/reference number
Buy to Let mortgage application 4/36
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1
(continued) First applicant
Second applicant
£
£
17 What is the current value of the property?
£
£
18 How much are the existing monthly payments?
£
16 Outstanding balance on mortgage
19 Do you intend to repay all of this mortgage before completing on the new Buy to Let property(ies)? 20 Do you intend to sell the property on which this mortgage is secured before completing on the new Buy to Let property(ies)? If Yes: what is the proposed selling price?
pm
£
pm
Yes
No
Yes
No
Yes
No
Yes
No
£
£
If No: how will the property be used?
2
Your credit history and existing Buy to Let mortgage(s) with us Please note that it is an offence to knowingly give false, inaccurate or misleading information when applying for a mortgage. If you give such information, you may face criminal prosecution and/or civil action for the recovery of any losses we incur. First applicant
1
Have you ever had a County Court Judgment or any other Court Order for non-payment of a debt made against you?
Second applicant
Yes
No
Yes
No
Yes
No
Yes
No
If Yes: please give the date(s), the amount(s) involved and tell us whether the Judgment/order was satisfied
2
Have you or your spouse ever incurred mortgage, rent or loan (including credit card) arrears, been refused a mortgage or credit, been declared bankrupt, entered into any arrangements with creditors, or been party to a mortgage where the property has been taken into possession on either a voluntary or enforced basis? If Yes: please give details including dates, lender(s) and the circumstances of the default or loan refusal
Buy to Let mortgage application 5/36
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2 3
(continued) For either applicant, where applicable: please give details of all existing Buy to Let mortgages that you have with us and indicate whether each mortgage will be repaid at the time of, or before this existing Buy to Let mortgage(s) is transferred to a new Buy to Let property. If the mortgage is also in the name of a borrower who is not an applicant, please give their full name. If you need space for more Buy to Let mortgages with us please use Part 6: Additional Information
First applicant
Yes
Second applicant
No
Account No. Borrower(s)
– First applicant
Second applicant
Account No. Borrower(s)
First applicant
Second applicant
Second applicant
Account No. Borrower(s)
Second applicant
Account No. Borrower(s)
Second applicant
Account No. Borrower(s)
Second applicant
Account No. Borrower(s)
Second applicant
Account No. Borrower(s)
Second applicant
Account No. Borrower(s)
Second applicant
Account No. Borrower(s)
Second applicant
Repaid before new mortgage(s) starts? Yes
No
Repaid before new mortgage(s) starts? Yes
No
Repaid before new mortgage(s) starts? Yes
No
Repaid before new mortgage(s) starts? Yes
No
Repaid before new mortgage(s) starts? Yes
No
Repaid before new mortgage(s) starts? Yes
No
Other
– First applicant
No
Other
– First applicant
Repaid before new mortgage(s) starts? Yes
Other
– First applicant
No
Other
– First applicant
Repaid before new mortgage(s) starts? Yes
Other
– First applicant
No
Other
– First applicant
Repaid before new mortgage(s) starts? Yes
Other
– First applicant
No
Other
– First applicant
Repaid before new mortgage(s) starts? Yes Other
–
Account No. Borrower(s)
No
Yes
Other
Please note we may also require at a later date, information about any Buy to Let mortgages that you have with other lenders.
3
Your occupation and income details (only applicable to employees [including company Directors/Partners]) Please note that it is an offence to knowingly give false, inaccurate or misleading information when applying for a mortgage. If you give such information, you may face criminal prosecution and/or civil action for the recovery of any losses we incur. If you hold 20% or more of the shares in the company that you work for, you must also complete Part 4.
Your employment details (all applicants) First applicant 1
What is your employment status?
If you are a Director or Partner, please tell us what percentage shareholding you have
If Retired, please now go straight to Part 3: Question 19 2
What is your occupation?
3
Employer’s name and address
Employed Director/ Partner
Second applicant Self employed
with a shareholding of
Postcode
4
Retired %
Employed
Self employed
Director/ Partner
with a shareholding of
Retired %
Postcode
Nature of employer’s business
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3
(continued) First applicant
5
Second applicant
Employer’s telephone number including STD code
6
Is this employment permanent?
7
If your employment is on a contract basis, will your contract be renewed?
No
Yes
If No: please tell us the date that the employment period will end
/
No
Yes /
/
/
Yes
No
Yes
No
Yes
No
Yes
No
If No: please give details
8
If your employment is not permanent, is it on a probationary basis? If Yes: please give details
9
Is the work:
Part time
Full time
10 When did you start working at this company?
/
Part time
Full time
/
/
/
11 What is your works/payroll/employee staff number? 12 National Insurance number 13 Your Tax details which can be found on any of your correspondence from the Inland Revenue
14 What is your gross annual salary? (before tax)
15 How much guaranteed gross overtime do you get per year?
Tax office name
Tax office name
Tax reference number
Tax reference number
£
pa
£
pa
£
pa
£
pa
£
pa
£
pa
£
pa
£
pa
£
pm
£
pm
£
pa
£
pa
£
pa
£
pa
(before tax)
16 How much regular gross overtime do you get per year? (before tax) 17 How much guaranteed gross bonus and commission do you get per year? (before tax) 18 What is your net average total monthly income? (after tax) 19 If you receive any other regular income, please give the gross amount you receive per year and the source of the income e.g. from a second job, pension, property, investment income
20 What is your anticipated retirement age (if applicable)?
years
years
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4
Your self-employed income details (only applicable to self-employed and Directors with a shareholding of 20% or more) Please note that it is an offence to knowingly give false, inaccurate or misleading information when applying for a mortgage. If you give such information, you may face criminal prosecution and/or civil action for the recovery of any losses we incur. If you hold 20% or more of the shares in the company that you work for, you must also have completed Part 3. First applicant
1
Second applicant
Company name, address and contact details
Postcode
Postcode
Telephone
2
Nature of business
3
On what basis do you trade? If Limited company: please give details
Telephone
Sole trading
Limited company registration number VAT registration number
Date business started
5
National Insurance number
6
Your Tax details which can be found on any of your correspondence from the Inland Revenue
7
What is your share of the company’s net taxable profit for the last three tax/trading years? Please also enter which tax year each amount refers to
8
If you receive a salary in addition to your share of the net taxable profit, how much do you get: a) gross per year? (before tax) b) net per month? (after tax)
9
If you receive any other regular income, please give the gross amount you receive per year and the source of the income e.g. from a second job, pension, property, investment income
Sole trading
Limited company
Partnership
Limited company registration number VAT registration number
Financial year end date
4
Limited company
Partnership
/
/
/
Financial year end date
/
/
/
/
/
Tax office name
Tax office name
Tax reference number
Tax reference number
£
pa
Year ending:
20
£
pa
Year ending:
20
£
pa
Year ending:
20
£
pa
Year ending:
20
£
pa
Year ending:
20
£
pa
Year ending:
20
£
pa
£
pa
£
pm
£
pm
£
pa
£
pa
£
pa
£
pa
10 Company Accountant’s name, address and contact details
Postcode Telephone
11 What is your anticipated retirement age?
Postcode Telephone
years
years
Buy to Let mortgage application 8/36
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5
About the new Buy to Let mortgage loan(s) and the property(ies) to be mortgaged Individual details are required for each Buy to Let mortgage/property that you are applying for. Part 5 allows you to apply for up to five mortgages – please complete a separate section of Part 5 for each mortgage you require. If you are applying for more, please refer to us or your Adviser.
5.1) Buy to Let mortgage/property 1 Your Buy to Let mortgage loan requirements and repayment details 1
Have you already been given a Decision in Principle? If Yes: please also give the reference number
2
Is this a new purchase or a remortgage?
3
Total amount of mortgage loan required on this property
4
Mortgage term/repayment period in years
5
If this is a new purchase, what is your intended completion date (date of entry if in Scotland)? We will make every effort to allow you
Yes
Ref No.
No
New purchase
Remortgage
£ years /
/
to meet this date, but can’t guarantee it
6
Have you applied in the last six months to any other lender for a mortgage on this or any other property?
Yes
If Yes: please give details
Lender
No
Outcome
7
Which repayment method have you chosen? Tick one only If part repayment/’part interest only’: please tell us how this is to be apportioned
All repayment (capital & interest) Repayment
£
All ‘interest only’
Part repayment/ ‘part interest only’
‘Interest only’
£
Question 8 is only applicable if your mortgage is to be arranged on an ‘interest only’ or ‘part interest only’ basis Please note, if your new mortgage is arranged on an ‘interest only’ or ‘part interest only’ basis, the monthly payments during the mortgage term due to us on the ‘interest only’ portion of the mortgage, will generally cover interest only and will not repay any part of the loan amount. It is your responsibility to make sure that you put in place, maintain and regularly monitor the ‘repayment vehicle(s)’ (investment plan and or endowment policy) which is expected to provide a lump sum sufficient to repay the loan amount (including all the capital still owing on the ‘interest only’ portion) at the end of the mortgage term. At the end of the term the loan amount (including all the capital still owing on the ‘interest only’ portion) will remain owing to us, and should any product intended to repay the loan amount not perform as you currently expect it to, you will then have to find an alternative means of repaying the shortfall. We suggest that you take advice from a Financial Adviser regarding this important aspect of your commitment to the new mortgage application.
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5.1 (continued) 8
What type of repayment vehicle(s) are you using to repay the ‘interest only’ or ‘part interest only’ element of this mortgage? For investment plans and endowment policies: please give details of each plan in the boxes opposite If you need space for more plans, please use Part 6: Additional Information
Investment plan
Endowment policy
For ‘other’: please give full details below Please note, if details are not complete, we will ask you again for the information, which may lead to a delay in the production of the Offer of Loan. We will take into account the payments you must make to maintain these products in assessing whether you can afford this mortgage and you must provide us with the information requested
Plan type Name of provider Value/ anticipated value £
Regular monthly payment £
Expected maturity date/payout date (or frequency if remuneration bonus)
Plan type Name of provider Value/ anticipated value £
Regular monthly payment £
Expected maturity date/payout date (or frequency if remuneration bonus)
Whilst it is not a condition of this loan that you take out life cover, we recommend that any such policy is in force when this loan starts (or on exchange of contracts where you are buying a property) and that you maintain it for so long as you consider it is needed. You will be responsible for ensuring that any contractual documentation (life policies or contract notes etc) is kept in a safe place.
Questions 9 to 12 are only applicable if the property is a new purchase 9
Property purchase price
10 Deposit amount
£ £
11 What is the source of the deposit? e.g. own personal savings, inheritance, sale of present home, gift
12 Is it a former or current Local Authority, Northern Ireland Housing Executive, Ministry of Defence or Housing Association property? If Yes and it is ‘current’: what is the Right to Buy valuation?
No
Yes (former)
Yes (current)
£
Questions 13 to 18 are only applicable if you already own the property and it is being remortgaged 13 Original purchase price
£
14 Date of purchase 15 Date existing mortgage loan started 16 Estimated current property value 17 Outstanding balance on the existing mortgage 18 Please give details about the existing mortgage
/
/
/
/
£ £ Date started
/
/
Repayment type Purpose of loan
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5.1 (continued) 5.1 19 If there are any other loans secured on this property, please tell us how much the loan(s) is/are and give details If you have more
than one loan, please give the same details in Part 6: Additional Information
£
Date started
/
/
Repayment type Purpose of loan
About the tenancy 20 What is the tenancy type? If ‘other’ please specify (e.g. let to company or Housing Association)
If ‘other’, we may not be able to proceed with your application – please refer to us or your Adviser
Assured Shorthold (Uncontrolled – Northern Ireland only) Other
21 How many people are expected to occupy the property? 22 What will be the total rental income for the property? Please indicate how often you will receive this income by deleting as applicable. If ‘other’, please specify
23 Is this total rental income amount confirmed or just estimated?
£
per week/4 weeks/month/other:
Confirmed
Estimated
Property details (all property types) 24 Full address of the property
Postcode
25 If this is a new purchase, what is your intended date for exchange of contracts? 26 Where is the property you are buying/remortgaging located?
/
/
England
Northern Ireland
Scotland
Flat/maisonette
Bungalow
Semi-detached
Terraced
Wales
27 Type of property If ‘other’, please specify
House Other
28 Description of the property
Detached Part of block
29 Number of garages (if any) 30 If the property has allocated parking, is it off-site or on-site? 31 Is the property next to or above retail/business premises? If Yes, we may not be able to proceed with your application – please give details and refer to us or your Adviser
Off-site Yes
On-site No
Position of premises in relation to your property Type of premises
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5.1 (continued) 32 What is the tenure of the property? If leasehold: please give details 33 Please give details of the accommodation Please note that en-suites without a bath, and shower rooms, don’t count as bathrooms. Outbuildings are buildings like detached workshops, stables and barns
Freehold/Absolute owner (Scotland)
Leasehold
Ground rent £ per year
Remaining term Number of living rooms
Number of bedrooms
Number of kitchens
Number of bathrooms
Number of separate toilets
Number of outbuildings
Brick
Timberframe
Other (please specify)
34 Construction type of the walls If ‘other’, we may not be able to proceed with your application – please give details and refer to us or your Adviser 35 What is the roof made of? If ‘other’ please specify 36 What type of roof does the property have? If ‘other’ please specify
Stone Other
Slate or tile
Other
Flat
Pitched
Other
37 When was the property built? If you don’t know the exact year, please give the approximate year that it was built
Questions 38 to 42 are only applicable to flats and maisonettes 38 If the flat/maisonette is in a block, please give details 39 Is the property: If the property is a studio, we may not be able to proceed with your application – please refer to us or your Adviser 40 Does the property have a lift? 41 Is this a former or current Local Housing Authority, Housing Association or Northern Ireland Housing Executive property?
Number of flats in block
Number of storeys in block
On what floor is the flat
Converted
Purpose built
Studio
Maisonette
Yes
No
Yes
No
If Yes and the flat is in a block: what approximate percentage of the block is owner-occupied? 42 Does the property have deck access (if applicable)? Deck access is common access to properties on storeys above ground level
%
Yes
No
Yes
No
Yes
No
Yes
No
If Yes, we may not be able to proceed with your application – please refer to us or your Adviser
About the occupancy 43 Will your spouse, partner, parent, brother, sister, child, grandparent or grandchild be a tenant in the property? 44 Do you intend to live in the property in the near future? 45 Will at least 40% of the property be used as, or in connection with, a residential dwelling?
Questions 46 to 48 are only applicable if the property is a new build or under 10 years old 46 Please give the name of the builders who built, or are building, the property
Builders’ name
47 Are these builders registered with the NHBC or Zurich Newbuild Scheme?
Yes
If No: please give details of the chartered architects or chartered surveyor who supervised, or are supervising, the build
No
Architect/surveyor Address
Postcode
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5.1 (continued) 48 If this is a new build property, are you getting any discounts or incentives as part of the package?
Yes
No
If Yes: please give details
About the property valuation We usually need to obtain a valuation of the property to be mortgaged, which will be carried out by a valuer instructed by us. Our Mortgage Valuation Report is a limited report intended for our valuation purposes only. We recommend that you have a more detailed ‘Homebuyer’s Survey and Valuation’ or ‘Building Survey’ report undertaken for your own purposes. For full details of the different types of valuation and survey, please refer to us or your Adviser. Mortgage Valuation report This is a limited report and is not a survey of the property. It is prepared solely for our purposes and as such should not be relied on by you as a report on the property’s condition. Homebuyer’s Survey and Valuation This is a more detailed report on the general state of repair and condition of the property, produced in a format approved by the RICS. It is produced on your behalf by a chartered surveyor to identify significant defects, repairs and features which affect the property. If you choose this option, we may be able to arrange for it to be carried out at the same time as the Mortgage Valuation report . need to (Please note that a direct contractual relationship exists between yourself and the valuer with this type of survey. You will confirm that you accept the standard Conditions of Engagement by signing an acceptance form and returning it to the independent firm of valuers). Building Survey This is a highly detailed survey report giving a comprehensive review of the property’s condition. Although we may be able to arrange for it to be carried out at the same time as the Mortgage Valuation report, your contract will be directly with the valuer for the Building Survey and you will need to pay them for this. (Please note that a direct contractual relationship exists between yourself and the valuer with this type of survey. You will need to confirm that you accept the standard Conditions of Engagement by signing an acceptance form and returning it to the independent firm of valuers.) 49 If you have not yet had a valuation, what type of report do you require for your purposes ? Please note, if a selection is not made,
Mortgage Valuation report
Homebuyer’s Survey and Valuation
Building Survey
Homebuyer’s Survey and Valuation
Building Survey
a Mortgage Valuation report will be carried out on the property
50 If this is a Scottish purchase and a valuation has already been carried out on the property, what was the cost of the valuation and what type of valuation report did you have?
Valuation cost
£
Mortgage Valuation report
51 Please tell us the name, address and telephone number of either: a) the person who the valuer can contact to arrange a viewing of the property if a valuation hasn’t been carried out yet Please also indicate who the contact is (e.g. estate agent, vendor); or b) for Scottish purchases, the person who carried out the valuation, if it has already been done
Postcode Telephone Who is the contact
Your solicitor’s details (all applicants) 52 Please give the name and address of the firm and contact details for your solicitor/licensed conveyancer.
Yes
No
Postcode Name of solicitor dealing with your case Telephone Fax
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5.2 5.2 5.2) Buy to Let mortgage/property 2 Your Buy to Let mortgage loan requirements and repayment details 1
Have you already been given a Decision in Principle? If Yes: please also give the reference number
2
Is this a new purchase or a remortgage?
3
Total amount of mortgage loan required on this property
4
Mortgage term/repayment period in years
5
If this is a new purchase, what is your intended completion date (date of entry if in Scotland)? We will make every effort to allow you to
Ref No.
No
Yes
New purchase
Remortgage
£ years /
/
meet this date, but can’t guarantee it
6
Have you applied in the last six months to any other lender for a mortgage on this or any other property?
Yes
If Yes: please give details
Lender
No
Outcome
7
Which repayment method have you chosen? Tick one only If part repayment/’part interest only’: please tell us how this is to be apportioned
All repayment (capital & interest) Repayment
£
All ‘interest only’
Part repayment/ ‘part interest only’
‘Interest only’
£
Question 8 is only applicable if your mortgage is to be arranged on an ‘interest only’ or ‘part interest only’ basis Please note, if your new mortgage is arranged on an ‘interest only’ or ‘part interest only’ basis, the monthly payments during the mortgage term due to us on the ‘interest only’ portion of the mortgage, will generally cover interest only and will not repay any part of the loan amount. It is your responsibility to make sure that you put in place, maintain and regularly monitor the ‘repayment vehicle(s)’ (investment plan and or endowment policy) which is expected to provide a lump sum sufficient to repay the loan amount (including all the capital still owing on the ‘interest only’ portion) at the end of the mortgage term. At the end of the term the loan amount (including all the capital still owing on the ‘interest only’ portion) will remain owing to us, and should any product intended to repay the loan amount not perform as you currently expect it to, you will then have to find an alternative means of repaying the shortfall. We suggest that you take advice from a Financial Adviser regarding this important aspect of your commitment to the new mortgage application.
Buy to Let mortgage application 14/36
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5.2 (continued) 8
What type of repayment vehicle(s) are you using to repay the ‘interest only’ or ‘part interest only’ element of this mortgage? For investment plans and endowment policies: please give details of each plan in the boxes opposite If you need space for more plans, please use Part 6: Additional Information
Investment plan
Endowment policy
For ‘other’: please give full details below Please note, if details are not complete, we will ask you again for the information, which may lead to a delay in the production of the Offer of Loan. We will take into account the payments you must make to maintain these products in assessing whether you can afford this mortgage and you must provide us with the information requested
Plan type Name of provider Value/ anticipated value £
Regular monthly payment £
Expected maturity date/payout date (or frequency if remuneration bonus)
Plan type Name of provider Value/ anticipated value £
Regular monthly payment £
Expected maturity date/payout date (or frequency if remuneration bonus)
Whilst it is not a condition of this loan that you take out life cover, we recommend that any such policy is in force when this loan starts (or on exchange of contracts where you are buying a property) and that you maintain it for so long as you consider it is needed. You will be responsible for ensuring that any contractual documentation (life policies or contract notes etc) is kept in a safe place.
Questions 9 to 12 are only applicable if the property is a new purchase 9
Property purchase price
10 Deposit amount
£ £
11 What is the source of the deposit? e.g. own personal savings, inheritance, sale of present home, gift
12 Is it a former or current Local Authority, Northern Ireland Housing Executive, Ministry of Defence or Housing Association property? If Yes and it is ‘current’: what is the Right to Buy valuation?
No
Yes (former)
Yes (current)
£
Questions 13 to 18 are only applicable if you already own the property and it is being remortgaged 13 Original purchase price
£
14 Date of purchase 15 Date existing mortgage loan started 16 Estimated current property value 17 Outstanding balance on the existing mortgage 18 Please give details about the existing mortgage
/
/
/
/
£ £ Date started
/
/
Repayment type Purpose of loan
Buy to Let mortgage application 15/36
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5.2 (continued) 19 If there are any other loans secured on this property, please tell us how much the loan(s) is/are and give details If you have more than one loan, please give the same details in Part 6: Additional Information
£
Date started
/
/
Repayment type Purpose of loan
About the tenancy 20 What is the tenancy type? If ‘other’ please specify (e.g. let to company or Housing Association)
If ‘other’, we may not be able to proceed with your application – please refer to Northern Rock (Asset Management) plc or your Adviser
Assured Shorthold (Uncontrolled – Northern Ireland only) Other
21 How many people are expected to occupy the property? 22 What will be the total rental income for the property? Please indicate how often you will receive this income by deleting as applicable. If ‘other’, please specify
23 Is this total rental income amount confirmed or just estimated?
£
per week/4 weeks/month/other:
Confirmed
Estimated
Property details (all property types) 24 Full address of the property
Postcode
25 If this is a new purchase, what is your intended date for exchange of contracts? 26 Where is the property you are buying/remortgaging located?
/
/
England
Northern Ireland
Scotland
Flat/maisonette
Bungalow
Semi-detached
Terraced
Wales
27 Type of property If ‘other’, please specify
House Other
28 Description of the property
Detached Part of block
29 Number of garages (if any) 30 If the property has allocated parking, is it off-site or on-site? 31 Is the property next to or above retail/business premises? If Yes, we may not be able to proceed with your application – please give details and refer to Northern Rock (Asset Management) plc or your Adviser
Off-site Yes
On-site No
Position of premises in relation to your property Type of premises
Buy to Let mortgage application 16/36
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5.2 (continued) 32 What is the tenure of the property? If leasehold: please give details 33 Please give details of the accommodation Please note that en-suites without a bath, and shower rooms, don’t count as bathrooms. Outbuildings are buildings like detached workshops, stables and barns
Freehold/Absolute owner (Scotland)
Leasehold
Ground rent £ per year
Remaining term Number of living rooms
Number of bedrooms
Number of kitchens
Number of bathrooms
Number of separate toilets
Number of outbuildings
Brick
Timberframe
Other (please specify)
34 Construction type of the walls If ‘other’, we may not be able to proceed with your application – please give details and refer to us or your Adviser 35 What is the roof made of? If ‘other’ please specify 36 What type of roof does the property have? If ‘other’ please specify
Stone Other
Slate or tile
Other
Flat
Pitched
Other
37 When was the property built? If you don’t know the exact year, please give the approximate year that it was built
Questions 38 to 42 are only applicable to flats and maisonettes 38 If the flat/maisonette is in a block, please give details 39 Is the property: If the property is a studio, we may not be able to proceed with your application – please refer to Northern Rock (Asset Management) plc or your Adviser 40 Does the property have a lift? 41 Is this a former or current Local Housing Authority, Housing Association or Northern Ireland Housing Executive property?
Number of flats in block
Number of storeys in block
On what floor is the flat
Converted
Purpose built
Studio
Maisonette
Yes
No
Yes
No
If Yes and the flat is in a block: what approximate percentage of the block is owner-occupied? 42 Does the property have deck access (if applicable)? Deck access is common access to properties on storeys above ground level
%
Yes
No
Yes
No
Yes
No
Yes
No
If Yes, we may not be able to proceed with your application – please refer to Northern Rock (Asset Management) plc or your Adviser
About the occupancy 43 Will your spouse, partner, parent, brother, sister, child, grandparent or grandchild be a tenant in the property? 44 Do you intend to live in the property in the near future? 45 Will at least 40% of the property be used as, or in connection with, a residential dwelling?
Questions 46 to 48 are only applicable if the property is a new build or under 10 years old 46 Please give the name of the builders who built, or are building, the property
Builders’ name
47 Are these builders registered with the NHBC or Zurich Newbuild Scheme?
Yes
If No: please give details of the chartered architects or chartered surveyor who supervised, or are supervising, the build
No
Architect/surveyor Address
Postcode
Buy to Let mortgage application 17/36
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5.2 (continued) 48 If this is a new build property, are you getting any discounts or incentives as part of the package?
Yes
No
If Yes: please give details
About the property valuation We usually need to obtain a valuation of the property to be mortgaged, which will be carried out by a valuer instructed by us. Our Mortgage Valuation Report is a limited report intended for our valuation purposes only. We recommend that you have a more detailed ‘Home buyer’s Survey and Valuation’ or ‘Building Survey’ report undertaken for your own purposes. Please see Part 5.1: question 49 for a brief description of each type of report. For full details of the different types of valuation and survey, please refer to us or your Adviser. 49 If you have not yet had a valuation, what type of report do you require for your purposes? Please note, if a selection is not made, a
Mortgage Valuation report
Homebuyer’s Survey and Valuation
Building Survey
Homebuyer’s Survey and Valuation
Building Survey
Mortgage Valuation report will be carried out on the property
50 If this is a Scottish purchase and a valuation has already been carried out on the property, what was the cost of the valuation and what type of valuation report did you have?
Valuation cost
£
Mortgage Valuation report
51 Please tell us the name, address and telephone number of either: a) the person who the valuer can contact to arrange a viewing of the property if a valuation hasn’t been carried out yet Please also indicate who the contact is (e.g. estate agent, vendor); or b) for Scottish purchases, the person who carried out the valuation, if it has already been done
Postcode Telephone Who is the contact
Your solicitor’s details (all applicants) 52 Please give the name and address of the firm and contact details for your solicitor/licensed conveyancer
Yes
No
Postcode Name of solicitor dealing with your case Telephone Fax
5.3) Buy to Let mortgage/property 3 Your Buy to Let mortgage loan requirements and repayment details 1
Have you already been given a Decision in Principle?
Yes
No
Ref No.
If Yes: please also give the reference number 2
Is this a new purchase or a remortgage?
New purchase
Remortgage
Buy to Let mortgage application 18/36
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5.3 (continued) 3
Total amount of mortgage loan required on this property
4
Mortgage term/repayment period in years
5
If this is a new purchase, what is your intended completion date (date of entry if in Scotland)? We will make every effort to allow
£ years /
/
you to meet this date, but can’t guarantee it
6
Have you applied in the last six months to any other lender for a mortgage on this or any other property?
Yes
If Yes: please give details
Lender
No
Outcome
7
Which repayment method have you chosen? Tick one only If part repayment/’part interest only’: please tell us how this is to be apportioned
All repayment (capital & interest) Repayment
All ‘interest only’
£
Part repayment/ ‘part interest only’
‘Interest only’
£
Questions 8 is only applicable if your mortgage is to be arranged on an ‘interest only’ or ‘part interest only’ basis Please note, if your new mortgage is arranged on an ‘interest only’ or ‘part interest only’ basis, the monthly payments during the mortgage term due to us on the ‘interest only’ portion of the mortgage, will generally cover interest only and will not repay any part of the loan amount. It is your responsibility to make sure that you put in place, maintain and regularly monitor the ‘repayment vehicle(s)’ (investment plan and or endowment policy) which is expected to provide a lump sum sufficient to repay the loan amount (including all the capital still owing on the ‘interest only’ portion) at the end of the mortgage term. At the end of the term the loan amount (including all the capital still owing on the ‘interest only’ portion) will remain owing to us, and should any product intended to repay the loan amount not perform as you currently expect it to, you will then have to find an alternative means of repaying the shortfall. We suggest that you take advice from a Financial Adviser regarding this important aspect of your commitment to the new mortgage application. 8
What type of repayment vehicle(s) are you using to repay the ‘interest only’ or ‘part interest only’ element of this mortgage?
Investment plan
For investment plans and endowment policies: please give details of each plan in the boxes opposite If you need space for more plans, please use Part 6: Additional Information
Endowment policy
For ‘other’: please give full details below Please note, if details are not complete, we will ask you again for the information, which may lead to a delay in the production of the Offer of Loan. We will take into account the payments you must make to maintain these products in assessing whether you can afford this mortgage and you must provide us with the information requested
Plan type Name of provider Value/ anticipated value £
Regular monthly payment £
Expected maturity date/payout date (or frequency if remuneration bonus)
Plan type Name of provider Value/ anticipated value £
Regular monthly payment £
Expected maturity date/payout date (or frequency if remuneration bonus)
Whilst it is not a condition of this loan that you take out life cover, we recommend that any such policy is in force when this loan starts (or on exchange of contracts where you are buying a property) and that you maintain it for so long as you consider it is needed. You will be responsible for ensuring that any contractual documentation (life policies or contract notes etc) is kept in a safe place.
Buy to Let mortgage application 19/36
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(continued) Questions 9 to 13 are only applicable if the property is a new purchase 9
Property purchase price
10 Deposit amount
£ £
11 What is the source of the deposit? e.g. own personal savings, inheritance, sale of present home, gift
12 If you are intending to borrow more than the amount needed to buy the property, please tell us how much and why e.g. for home improvement
13 Is it a former or current Local Authority, Northern Ireland Housing Executive, Ministry of Defence or Housing Association property? If Yes and it is ‘current’:what is the Right to Buy valuation?
£ Reason
No
Yes (former)
Yes (current)
£
Questions 14 to 20 are only applicable if you already own the property and it is being remortgaged 14 Original purchase price
£
15 Date of purchase 16 Date existing mortgage loan started 17 Estimated current property value 18 Outstanding balance on the existing mortgage 19 Please give details about the existing mortgage
/
/
/
/
£ £ Date started
/
/
Repayment type Purpose of loan
20 If there are any other loans secured on this property, please tell us how much the loan(s) is/are and give details
£
Date started
/
/
Repayment type Purpose of loan
About the tenancy 21 What is the tenancy type? If ‘other’ please specify (e.g. let to a company or Housing Association)
Assured Shorthold (Uncontrolled - Northern Ireland only)
If ‘other’, we may not be able to proceed with your application –
Other
please refer to us or your adviser
22 How many people are expected to occupy the property?
Buy to Let mortgage application 20/36
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5.3 (continued) 23 What will be the total rental income for the property? Please indicate how often you will receive this income by deleting as applicable. If ‘other’, please specify.
24 Is this total rental income amount confirmed or just estimated?
£
per week/4 weeks/month/other:
Confirmed
Estimated
Property details (all property types) 25 Full address of the property
Postcode
26 If this is a new purchase, what is your intended date for exchange of contracts? 27 Where is the property you are buying/remortgaging located?
/
/
England
Northern Ireland
Scotland
Flat/maisonette
Bungalow
Semi-detached
Terraced
Wales
28 Type of property If ‘other’, please specify
House Other
29 Description of the property
Detached Part of block
30 Number of garages (if any) 31 If the property has allocated parking, is it on-site or off-site? 32 Is the property next to or above retail/business premises? If Yes, we may not be able to proceed with your application – please give details and refer to Northern Rock (Asset Management) plc or your Adviser
Off-site Yes
On-site No
Position of premises in relation to your property Type of premises
33 What is the tenure of the property? If leasehold: please give details 34 Please give details of the accommodation Please note, en-suites without a bath and shower rooms don’t count as bathrooms. Outbuildings are buildings like detached workshops, stables and barns
Leasehold
Freehold/Absolute owner (Scotland) Ground rent £ per year
Remaining term Number of living rooms
Number of bedrooms
Number of kitchens
Number of bathrooms
Number of separate toilets
Number of outbuildings
Brick
Timberframe
Other (please specify)
35 Construction type of the walls If ‘other’, we may not be able to proceed with your application – please give details and refer to Northern Rock (Asset Management) plc or your Adviser 36 What is the roof made of? If ‘other’ please specify 37 What type of roof does the property have? If ‘other’ please specify
Stone Other
Slate or tile
Other
Flat
Pitched
Other
38 When was the property built? If you don’t know the exact year, please give the approximate year that it was built
Questions 39 to 43 are only applicable to flats and maisonettes 39 If the flat/maisonette is in a block, please give details
Number of flats in block
Number of storeys in block
On what floor is the flat
Buy to Let mortgage application 21/36
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5.3 (continued) 40 Is the property: If the property is a studio, we may not be able to proceed with your application – please refer to us or your Adviser 41 Does the property have a lift? 42 Is this a former or current Local Housing Authority, Housing Association or Northern Ireland Housing Executive property?
Converted
Purpose built
Maisonette
Yes
No
Yes
No
If Yes and the flat is in a block: what approximate percentage of the block is owner-occupied? 43 Does the property have deck access (if applicable)? Deck access is common access to properties on storeys above ground level
Studio
%
Yes
No
Yes
No
Yes
No
Yes
No
If Yes, we may not be able to proceed with your application – please refer to us or your Adviser
About the occupancy 44 Will your spouse, partner, parent, brother, sister, child, grandparent or grandchild be a tenant in the property? 45 Do you intend to live in the property in the near future? 46 Will at least 40% of the property be used as, or in connection with, a residential dwelling?
Questions 47 to 49 are only applicable if the property is a new build or under 10 years old 47 Please give the name of the builders who built, or are building, the property
Builders’ name
48 Are these builders registered with the NHBC or Zurich Newbuild Scheme?
Yes
If No: please give details of the chartered architects or chartered surveyor who supervised, or are supervising, the build
No
Architect/surveyor Address
Postcode
49 If this is a new build property, are you getting any discounts or incentives as part of the package?
Yes
No
If Yes: please give details
About the property valuation We usually need to obtain a valuation of the property to be mortgaged, which will be carried out by a valuer instructed by us. Our Mortgage Valuation Report is a limited report intended for our valuation purposes only. We recommend that you have a more detailed ‘Home buyer’s Survey and Valuation’ or ‘Building Survey’ report undertaken for your own purposes. Please see Part 5.1: question 49 for a brief description of each type of report. For full details of the different types of valuation and survey, please refer to us or your Adviser. 50 If you have not yet had a valuation, what type of report do you require for your purposes? Please note, if a selection is not made, a
Mortgage Valuation report
Homebuyer’s Survey and Valuation
Building Survey
Homebuyer’s Survey and Valuation
Building Survey
Mortgage Valuation report will be carried out on the property.
51 If this is a Scottish purchase and a valuation has already been carried out on the property, what was the cost of the valuation and what type of valuation report did you have?
Valuation cost Mortgage Valuation report
£
Buy to Let mortgage application 22/36
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5.3 (continued) 52 Please tell us the name, address and telephone number of either: a) the person who the valuer can contact to arrange a viewing of the property if a valuation hasn’t been carried out yet Please also indicate who the contact is (e.g. estate agent, vendor); or b) for Scottish purchases, the person who carried out the valuation, if it has already been done
Postcode Telephone Who is the contact
Your solicitor’s details (all applicants) 53 Please give the name and address of the firm and contact details for your solicitor/licensed conveyancer
No
Yes
Postcode Name of solicitor dealing with your case Telephone Fax
5.4) Buy to Let mortgage/property 4 Your Buy to Let mortgage loan requirements and repayment details 1
Have you already been given a Decision in Principle? If Yes: please also give the reference number
2
Is this a new purchase or a remortgage?
3
Total amount of mortgage loan required on this property
4
Mortgage term/repayment period in years
5
If this is a new purchase, what is your intended completion date (date of entry if in Scotland)? We will make every effort to allow
Ref No.
No
Yes
New purchase
Remortgage
£ years /
/
you to meet this date, but can’t guarantee it
6
Have you applied in the last six months to any other lender for a mortgage on this or any other property?
Yes
If Yes: please give details
Lender
No
Outcome
7
Which repayment method have you chosen? Tick one only If part repayment/’part interest only’: please tell us how this is to be apportioned
All repayment (capital & interest)
Repayment
£
All ‘interest only’
Part repayment/ ‘part interest only’
‘Interest only’
£
Buy to Let mortgage application 23/36
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5.4 (continued) Question 8 is only applicable if your mortgage is to be arranged on an ‘interest only’ or ‘part interest only’ basis Please note, if your new mortgage is arranged on an ‘interest only’ or ‘part interest only’ basis, the monthly payments during the mortgage term due to us on the ‘interest only’ portion of the mortgage, will generally cover interest only and will not repay any part of the loan amount. It is your responsibility to make sure that you put in place, maintain and regularly monitor the ‘repayment vehicle(s)’ (investment plan and or endowment policy) which is expected to provide a lump sum sufficient to repay the loan amount (including all the capital still owing on the ‘interest only’ portion) at the end of the mortgage term. At the end of the term the loan amount (including all the capital still owing on the ‘interest only’ portion) will remain owing to us, and should any product intended to repay the loan amount not perform as you currently expect it to, you will then have to find an alternative means of repaying the shortfall. We suggest that you take advice from a Financial Adviser regarding this important aspect of your commitment to the new mortgage application.
8
What type of repayment vehicle(s) are you using to repay the ‘interest only’ or ‘part interest only’ element of this mortgage?
Investment plan
For investment plans and endowment policies: please give details of each plan in the boxes opposite If you need space for more plans, please use Part 6: Additional Information
Endowment policy
For ‘other’: please give full details below Please note, if details are not complete, we will ask you again for the information, which may lead to a delay in the production of the Offer of Loan. We will take into account the payments you must make to maintain these products in assessing whether you can afford this mortgage and you must provide us with the information requested
Plan type Name of provider Value/ anticipated value £
Regular monthly payment £
Expected maturity date/payout date (or frequency if remuneration bonus)
Plan type Name of provider Value/ anticipated value £
Regular monthly payment £
Expected maturity date/payout date (or frequency if remuneration bonus)
Whilst it is not a condition of this loan that you take out life cover, we recommend that any such policy is in force when this loan starts (or on exchange of contracts where you are buying a property) and that you maintain it for so long as you consider it is needed. You will be responsible for ensuring that any contractual documentation (life policies or contract notes etc) is kept in a safe place.
Questions 9 to 13 are only applicable if the property is a new purchase 9
Property purchase price
10 Deposit amount
£ £
11 What is the source of the deposit? e.g. own personal savings, inheritance, sale of present home, gift
12 If you are intending to borrow more than the amount needed to buy the property, please tell us how much and why e.g. for home improvement
£ Reason
13 Is it a former or current Local Authority, Northern Ireland Housing Executive, Ministry of Defence or Housing Association property? If Yes and it is ‘current’: what is the Right to Buy valuation?
No
Yes (former)
Yes (current)
£
Buy to Let mortgage application 24/36
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5.4 (continued) Questions 16 to 24 are only applicable if you already own the property and it is being remortgaged 14 Original purchase price
£
15 Date of purchase 16 Date existing mortgage loan started 17 Estimated current property value 18 Outstanding balance on the existing mortgage 19 Please give details about the existing mortgage
/
/
/
/
£ £ Date started
/
/
Repayment type Purpose of loan
About the tenancy 20 What is the tenancy type? If ‘other’ please specify (e.g. let to company or Housing Association)
If ‘other’, we may not be able to proceed with your application – please refer to Northern Rock (Asset Management) plc or your Adviser
Assured Shorthold (Uncontrolled – Northern Ireland only) Other
21 How many people are expected to occupy the property? 22 What will be the total rental income for the property? Please indicate how often you will receive this income by deleting as applicable. If ‘other’, please specify
23 Is this total rental income amount confirmed or just estimated?
£
per week/4 weeks/month/other:
Confirmed
Estimated
Property details (all property types) 24 Full address of the property
Postcode
25 If this is a new purchase, what is your intended date for exchange of contracts? 26 Where is the property you are buying/remortgaging located?
/
England
/
Northern Ireland
Scotland
Flat/maisonette
Bungalow
Semi-detached
Terraced
Wales
27 Type of property If ‘other’, please specify
House Other
28 Description of the property
Detached Part of block
Buy to Let mortgage application 25/36
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5.4 (continued) 29 Number of garages (if any) 30 If the property has allocated parking, is it on-site or off-site? 31 Is the property next to or above retail/business premises? If Yes, we may not be able to proceed with your application – please give details and refer to Northern Rock (Asset Management) plc or your Adviser
Off-site Yes
On-site No
Position of premises in relation to your property Type of premises
32 What is the tenure of the property? If leasehold: please give details 33 Please give details of the accommodation Please note, en-suites without a bath and shower rooms don’t count as bathrooms. Outbuildings are buildings like detached workshops, stables and barns
Freehold/Absolute owner (Scotland)
Leasehold
Ground rent £ per year
Remaining term Number of living rooms
Number of bedrooms
Number of kitchens
Number of bathrooms
Number of separate toilets
Number of outbuildings
Brick
Timberframe
Other (please specify)
34 Construction type of the walls If ‘other’, we may not be able to proceed with your application – please give details and refer to us or your Adviser 35 What is the roof made of? If ‘other’ please specify 36 What type of roof does the property have? If ‘other’ please specify
Stone Other
Slate or tile
Other
Flat
Pitched
Other
37 When was the property built? If you don’t know the exact year, please give the approximate year that it was built
Questions 38 to 42 are only applicable to flats and maisonettes 38 If the flat/maisonette is in a block, please give details 39 Is the property: If the property is a studio, we may not be able to proceed with your application – please refer to us or your Adviser 40 Does the property have a lift? 41 Is this a former or current Local Housing Authority, Housing Association or Northern Ireland Housing Executive property?
Number of flats in block
Number of storeys in block
On what floor is the flat
Converted
Purpose built
Studio
Maisonette
Yes
No
Yes
No
If Yes and the flat is in a block: what approximate percentage of the block is owner-occupied? 42 Does the property have deck access (if applicable)? Deck access is common access to properties on storeys above ground level
%
Yes
No
Yes
No
Yes
No
If Yes, we may not be able to proceed with your application – please refer to us or your Adviser
About the occupancy 43 Will your spouse, partner, parent, brother, sister, child, grandparent or grandchild be a tenant in the property? 44 Do you intend to live in the property in the near future?
Buy to Let mortgage application 26/36
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5.4 (continued) 45 Will at least 40% of the property be used as, or in connection with, a residential dwelling?
Yes
No
Question 46 to 48 are only applicable if the property is a new build or under 10 years old 46 Please give the name of the builders who built, or are building, the property
Builders’ name
47 Are these builders registered with the NHBC or Zurich Newbuild Scheme?
Yes
If No: please give details of the chartered architects or chartered surveyor who supervised, or are supervising, the build
No
Architect/surveyor Address
Postcode
48 If this is a new build property, are you getting any discounts or incentives as part of the package?
Yes
No
If Yes: please give details
About the property valuation We usually need to obtain a valuation of the property to be mortgaged, which will be carried out by a valuer instructed by us. Our Mortgage Valuation Report is a limited report intended for our valuation purposes only. We recommend that you have more detailed ‘Homebuyer’s Survey and Valuation’ or ‘Building Survey’ report undertaken for your own purpose. Please see Part 5.1: question 49 for a brief description of each type of report. For full details of different types of valuation and survey, please refer to us or your Adviser. 49 If you have not yet had a valuation, what type of report do you require for your purpose? Please note, if a selection is not made,
Mortgage Valuation report
Homebuyer’s Survey and Valuation
Building Survey
Homebuyer’s Survey and Valuation
Building Survey
a Mortgage Valuation report will be carried out on the property
50 If this is a Scottish purchase and a valuation has already been carried out on the property, what was the cost of the valuation and what type of valuation report did you have?
Valuation cost
£
Mortgage Valuation report
51 Please tell us the name, address and telephone number of either: a) the person who the valuer can contact to arrange a viewing of the property if the valuation hasn't been carried out yet Please also indicate who the contact is (e.g. estate agent, vendor); or b) for Scottish purchases, the person who carried out the valuation, if it has already been done
Postcode Telephone Who is the contact
Your solicitor's details (all applicants) 52 Please give the name and address of the firm and contact details for your solicitor/licensed conveyancer
Yes
No
Postcode Name of solicitor dealing with your case Telephone Fax
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5.5 5.5) Buy to Let mortgage/property 5 Your Buy to Let mortgage loan requirements and repayment details 1
Have you already been given a Decision in Principle? If Yes: please also give the reference number
2
Is this a new purchase or a remortgage?
3
Total amount of mortgage loan required on this property
4
Mortgage term/repayment period in years
5
If this is a new purchase, what is your intended completion date (date of entry if in Scotland)? We will make every effort to allow
Ref No.
No
Yes
New purchase
Remortgage
£ years /
/
you to meet this date, but can’t guarantee it
6
Have you applied in the last six months to any other lender for a mortgage on this or any other property?
Yes
If Yes: please give details
Lender
No
Outcome
7
Which repayment method have you chosen? Tick one only If part repayment/’part interest only’:please tell us how this is to be apportioned
All repayment (capital & interest) Repayment
£
All ‘interest only’
Part repayment/ ‘part interest only’
‘Interest only’
£
Question 8 is only applicable if your mortgage is to be arranged on an ‘interest only’ or ‘part interest only’ basis Please note, if your new mortgage is arranged on an ‘interest only’ or ‘part interest only’ basis, the monthly payments during the mortgage term due to us on the ‘interest only’ portion of the mortgage, will generally cover interest only and will not repay any part of the loan amount. It is your responsibility to make sure that you put in place, maintain and regularly monitor the ‘repayment vehicle(s)’ (investment plan and or endowment policy) which is expected to provide a lump sum sufficient to repay the loan amount (including all the capital still owing on the ‘interest only’ portion) at the end of the mortgage term. At the end of the term the loan amount (including all the capital still owing on the ‘interest only’ portion) will remain owing to us, and should any product intended to repay the loan amount not perform as you currently expect it to, you will then have to find an alternative means of repaying the shortfall. We suggest that you take advice from a Financial Adviser regarding this important aspect of your commitment to the new mortgage application.
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5.5 (continued) 8
What type of repayment vehicle(s) are you using to repay the ‘interest only’ or ‘part interest only’ element of this mortgage?
Investment plan
For investment plans and endowment policies: please give details of each plan in the boxes opposite If you need space for more plans, please use Part 6: Additional Information
Endowment policy
For ‘other’: please give full details below Please note, if details are not complete, we will ask you again for the information, which may lead to a delay in the production of the Offer of Loan. We will take into account the payments you must make to maintain these products in assessing whether you can afford this mortgage and you must provide us with the information requested
Plan type Name of provider Value/ anticipated value £
Regular monthly payment £
Expected maturity date/payout date (or frequency if remuneration bonus)
Plan type Name of provider Value/ anticipated value £
Regular monthly payment £
Expected maturity date/payout date (or frequency if remuneration bonus)
Whilst it is not a condition of this loan that you take out life cover, we recommend that any such policy is in force when this loan starts (or on exchange of contracts where you are buying a property) and that you maintain it for so long as you consider it is needed. You will be responsible for ensuring that any contractual documentation (life policies or contract notes etc) is kept in a safe place.
Questions 9 to 12 are only applicable if the property is a new purchase 9
Property purchase price
10 Deposit amount
£ £
11 What is the source of the deposit?
e.g. own personal savings, inheritance, sale of present home, gift
12 Is it a former or current Local Authority, Northern Ireland Housing Executive, Ministry of Defence or Housing Association property? If Yes and it is ‘current’: what is the Right to Buy valuation?
No
Yes (former)
Yes (current)
£
Questions 13 to 19 are only applicable if you already own the property and it is being remortgaged 13 Original purchase price
£
14 Date of purchase 15 Date existing mortgage loan started 16 Estimated current property value 17 Outstanding balance on the existing mortgage 18 Please give details about the existing mortgage
/
/
/
/
£ £ Date started
/
/
Repayment type Purpose of loan
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5.5 (continued) 19 If there are any other loans secured on this property, please tell us how much the loan(s) is/are and give details If you have more than one loan, please give the same details in Part 6: Additional Information
£
Date started
/
/
Repayment type Purpose of loan
About the tenancy 20 What is the tenancy type? If ‘other’ please specify (e.g. let to company or Housing Association)
If ‘other’, we may not be able to proceed with your application – please refer to Northern Rock (Asset Management) plc or your Adviser
Assured Shorthold (Uncontrolled – Northern Ireland only) Other
21 How many people are expected to occupy the property? 22 What will be the total rental income for the property? Please indicate how often you will receive this income by deleting as applicable. If ‘other’, please specify
23 Is this total rental income amount confirmed or just estimated?
£
per week/4 weeks/month/other:
Confirmed
Estimated
Property details (all property types) 24 Full address of the property
Postcode
25 If this is a new purchase, what is your intended date for exchange of contracts? 26 Where is the property you are buying/remortgaging located?
/
/
England
Northern Ireland
Scotland
Flat/maisonette
Bungalow
Semi-detached
Terraced
Wales
27 Type of property If ‘other’, please specify
House Other
28 Description of the property
Detached Part of block
29 Number of garages (if any) 30 If the property has allocated parking, is it off-site or on-site? 31 Is the property next to or above retail/business premises? If Yes, we may not be able to proceed with your application – please give details and refer to Northern Rock (Asset Management) plc or your Adviser
Off-site Yes
On-site No
Position of premises in relation to your property Type of premises
32 What is the tenure of the property? If leasehold: please give details
Leasehold Remaining term
Freehold/Absolute owner (Scotland) Ground rent £ per year
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5.5 (continued) 33 Please give details of the accommodation Please note that en-suites without a bath, and shower rooms, don’t count as bathrooms. Outbuildings are buildings like detached workshops, stables and barns
Number of living rooms
Number of bedrooms
Number of kitchens
Number of bathrooms
Number of separate toilets
Number of outbuildings
Brick
Timberframe
Other (please specify)
34 Construction type of the walls If ‘other’, we may not be able to proceed with your application – please give details and refer to Northern Rock (Asset Management) plc or your Adviser
35 What is the roof made of? If ‘other’ please specify 36 What type of roof does the property have? If ‘other’ please specify
Stone Other
Slate or tile
Other
Flat
Pitched
Other
37 When was the property built? If you don’t know the exact year, please give the approximate year that it was built
Questions 38 to 42 are only applicable to flats and maisonettes 38 If the flat/maisonette is in a block, please give details 39 Is the property: If the property is a studio, we may not be able to proceed with your application – please refer to Northern Rock (Asset Management) plc or your Adviser 40 Does the property have a lift? 41 Is this a former or current Local Housing Authority, Housing Association or Northern Ireland Housing Executive property?
Number of flats in block
Number of storeys in block
On what floor is the flat
Converted
Purpose built
Studio
Maisonette
Yes
No
Yes
No
If Yes and the flat is in a block: what approximate percentage of the block is owner-occupied? 42 Does the property have deck access (if applicable)? Deck access is common access to properties on storeys above ground level
%
Yes
No
Yes
No
Yes
No
Yes
No
If Yes, we may not be able to proceed with your application – please refer to Northern Rock (Asset Management) plc or your Adviser
About the occupancy 43 Will your spouse, partner, parent, brother, sister, child, grandparent or grandchild be a tenant in the property? 44 Do you intend to live in the property in the near future? 45 Will at least 40% of the property be used as, or in connection with, a residential dwelling?
Questions 46 to 48 are only applicable if the property is a new build or under 10 years old 46 Please give the name of the builders who built, or are building, the property
Builders’ name
47 Are these builders registered with the NHBC or Zurich Newbuild Scheme?
Yes
If No: please give details of the chartered architects or chartered surveyor who supervised, or are supervising, the build
No
Architect/surveyor Address
Postcode
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5.5 (continued) 48 If this is a new build property, are you getting any discounts or incentives as part of the package?
Yes
No
If Yes: please give details
About the property valuation We usually need to obtain a valuation of the property to be mortgaged, which will be carried out by a valuer instructed by us. Our Mortgage Valuation Report is a limited report intended for our valuation purposes only. We recommend that you have a more detailed ‘Homebuyer’s Survey and Valuation’ or ‘Building Survey’ report undertaken for your own purposes. Please see Part 5.1: question 49 for a brief description of each type of report. For full details of the different types of valuation and survey, please refer to us or your Adviser. 49 If you have not yet had a valuation, what type of report do you require for your purposes? Please note, if a selection is not made,
Mortgage Valuation report
Homebuyer’s Survey and Valuation
Building Survey
Homebuyer’s Survey and Valuation
Building Survey
a Mortgage Valuation report will be carried out on the property
50 If this is a Scottish purchase and a valuation has already been carried out on the property, what was the cost of the valuation and what type of valuation report did you have?
Valuation cost
£
Mortgage Valuation report
51 Please tell us the name, address and telephone number of either: a) the person who the valuer can contact to arrange a viewing of the property if a valuation hasn’t been carried out yet Please also indicate who the contact is (e.g. estate agent, vendor); or b) for Scottish purchases, the person who carried out the valuation, if it has already been done
Postcode Telephone Who is the contact
Your solicitor’s details (all applicants) 52 Please give the name and address of the firm and contact details for your solicitor/licensed conveyancer
Postcode Name of solicitor dealing with your case Telephone Fax
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6
Additional Information Use this section if you need more space to answer any questions
First applicant Part no.
Question Further details no.
Second applicant Part no.
Question Further details no.
If there is insufficient space to provide all your additional information, please continue on a separate sheet of paper and attach it to this form.
7
Declaration
Before signing the applicant(s) Declaration on the next page: Please ensure that you have read the important customer information at the beginning of this form Please check your answers in each section to ensure you have given us all the information we need to process your application. The checklist at the end of this form will help you with this The information you give will form the basis of your contract with us. If there are any other material facts that could reasonably be construed as likely to influence our decision about this loan application, but which have not been revealed as a result of answering specific questions within this application form, you must tick this box and provide details in Part 6: Additional Information: We give no assurance that by the making of an advance, the price agreed to be paid for the property is reasonable Buy to Let mortgage application 33/36
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(continued) You agree and declare that (please note, a figure must be entered in Declaration point 6 before we can process your application): 1 A Mortgage Valuation Report will be arranged by us. You understand that this report is intended solely for the purpose of us in considering this application for a loan, and is not intended to be a detailed inspection of the property. 2 Neither we nor our valuer warrants that the condition of the property or the price paid is reasonable, and that it is for you to satisfy yourself as to the value and condition of the property. If you require, we can introduce you to firms of chartered surveyors you can instruct to carry out a more detailed Homebuyer’s Survey and Valuation, or a Building Survey. 3 You certify that where the loan is paid by one applicant, then that payment should be treated as made for, and on behalf of, all applicants. 4 You agree to keep the property fully insured until the loan is fully repaid. 5 You are over 18 years of age (or over 21 years of age if you are the main applicant on this application). 6 You apply for a loan to be made on the security of the property and have enclosed a cheque for the valuation fee of £ This fee includes a non-refundable application fee. Whether or not a loan is made, you will meet the cost of the valuation. If the property is upvalued or undervalued the valuation fee is subject change 7 You accept that one of the terms of applying for a loan is that we need not give any reason for declining the application. 8 You understand that where either a payment holiday or refund of overpayments is requested by one applicant, then it will be treated as made for, and with the agreement of, all applicants. If we become aware of a dispute between borrowers, then it reserves the right to suspend the payment holiday or refund of overpayments facility, until it is satisfied that the dispute has been resolved. 9 You understand that where the mortgage is in joint names, the authority of only one of you is necessary to request a payment holiday or refund of overpayments. 10 You understand that we will be the sole arbiter about the method used to send refunds of overpayments. 11 If you wish you may arrange the insurance through another nominated insurance company. The details of the proposed insurance company must be approved by us and we will give reasonable consideration to such a proposal. However, we will make a charge to cover the additional administration involved and the cost of reviewing the proposed policy and terms of cover. This will be charged to your mortgage account. We reserve the right to refuse to accept any proposed insurance policy to be arranged by you. 12 You authorise Northern Rock (Asset Management) plc or any solicitor/licensed conveyancer appointed by us to obtain account information (including repayment figures) from your lender.
Using your personal information: The personal information you supply to us as well as information we already hold, may be used in a number of ways, for example, • • • • • • •
To assess and process this and future applications; To verify your identity; To prevent fraud and money laundering; To manage your account(s); For management of arrears and debt collection; For audit purposes, research and statistical analysis; and To identify other products and services which might be suitable for you (with your consent).
(a) We may share your information with, and obtain information about you from, credit reference agencies or fraud prevention agencies as outlined above. This may include details of any previous or subsequent names. (b) If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies to prevent fraud and money laundering. For further details as to how your information held by fraud prevention agencies may be used please see below. (c) We may seek appropriate references we consider necessary in respect of this application. You will meet the costs for this. (d) In addition to the above we will not ordinarily disclose information to other organisations (including subsidiaries of ours) except to help prevent fraud, where we are required by law, permitted under the Data Protection Act or in order to process your application. Where we pass on information, this will be treat with the same degree of care. (e) In order for us to offer you the best levels of service, we would like to provide you with information from time to time about products and services by post, fax, telephone, email or other electronic means. This may include other firm’s products although we will not disclose your information to them. Please tick here if you do not wish to receive this information. You declare that you are entitled to disclose information about all applicants and/or anyone else referred to by you and authorise us to search, link and/or record information at credit reference agencies about you and anyone else referred to by you. For further information on how your information may be used by credit reference agencies, fraud prevention agencies, and ourselves, contact The Data Protection Officer, Freepost, RTAE-CJUK-KZGK, PO Box 625, Durham DH1 9JJ. You can obtain a copy of the information we hold about you (for a fee) by writing to the above address. You also have a right to have any inaccuracies deleted or corrected.
Signature(s) and applicant(s) Declaration Before you sign, please check your answers throughout this form to ensure that you have provided all the information we need. You declare that the statements and particulars given in this application are, to the best of your knowledge and belief, true and complete. By signing this application form you will be agreeing that any person interested now, or in the future, in the loan, the mortgage and other security, may rely upon the truth and accuracy of the information contained in this application and any supporting documentation, information or security. It is an offence to knowingly give false, inaccurate or misleading information when applying for a mortgage. If you give such information you may face criminal prosecution and/or civil action for recovery of any losses we incur. First applicant Signature
First applicant Date
Signature
Date
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8
Payment details
Valuation/application fees (all applicants) Your valuation/application fees can be paid by cheque (we don’t accept cash payments). Please note that we cannot process your application or instruct valuation until the cheque is received by us. Please make cheque payable to ‘Northern Rock (Asset Management) plc’ and enclose it with your application.
Direct Debit for your monthly mortgage payments (all applicants) This Direct Debit instruction must be fully completed, signed and dated before your application can be processed. If you complete this form, your mortgage payments will be collected from your bank account by Direct Debit. You will need to cancel your existing payment methods once you have received confirmation your Direct Debit has been set up. Direct Debit payments are collected on the date you request each calender month.
Instruction to your bank or building society to pay by Direct Debit Please fill in the whole form including official use box using a ball point pen and send it to:
Service user number
2
NRAM Mortgage Operations, PO BOX 625 DURHAM DH1 9JJ
7
4
1
1
7
FOR NORTHERN ROCK (ASSET MANAGEMENT) PLC OFFICIAL USE ONLY This is not part of the instruction to your bank or building society.
You can let us know the day of the month you would like your Direct Debit to be collected from your Bank Account by entering the day here:
Name(s) of account holder(s)
Branch sort code Bank/building society account number
Name and full postal address of your bank or building society To: The Manager
Bank/building society
Instruction to your bank or building society Please pay Northern Rock (Asset Management) plc Direct Debits from the account detailed in this Instruction subject to the safeguards assured by the Direct Debit Guarantee. I understand that this Instruction may remain with Northern Rock (Asset Management) plc and, if so, details will be passed electronically to my bank/building society.
Address
Signature(s) Postcode
Reference
Date
Banks and building societies may not accept Direct Debit Instructions for some types of account
This guarantee should be detached and retained by the payer.
The Direct Debit Guarantee • This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits • If there are any changes to the amount, date or frequency of your Direct Debit Northern Rock (Asset Management) plc will notify you 10 working days in advance of your account being debited or as otherwise agreed. If you request Northern Rock (Asset Management) plc to collect a payment, confirmation of the amount and date will be given to you at the time of the request. • If an error is made in the payment of your Direct Debit, by Northern Rock (Asset Management) plc or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society – If you receive a refund you are not entitled to, you must pay it back when Northern Rock (Asset Management) plc asks you to • You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.
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Checklist To help us process your application more quickly, please check the following as an incomplete form can cause delays. Photocopies can be sent if original documents are unavailable.
All applicants please check that you have: signed and dated the Declaration in Part 7 signed and dated the Direct Debit instruction(s) in Part 8 included your Valuation/administration fee cheque (if applicable)
If you are an employee please check that you have: included your current P60 form (end of tax year statement) included your latest monthly salary slip (or last 4 weeks’ wage slips if paid weekly)
If you are self-employed please check that you have either: included your most recent Self Employed Accounts or Accountant’s Certificate; or included your Tax Assessment for the last financial year
Intermediaries ONLY please check that you have: included documentation for confirmation of address and identity
Thank you for completing this application for a Buy to Let mortgage with us. If you have an Adviser, please give your completed application to them. Otherwise, send it to us at: Freepost, RTAE-CJUZ-KZGK, PO Box 625, DURHAM, DH1 9JJ. Assuming your application includes all the information we have asked for and is approved, we will contact you to confirm this. For office use only Please confirm in this box the total number of Buy to Let mortgages/properties being applied for on this form, and give the product codes below: Mortgage 1
Mortgage 2
Mortgage 3
The relevant FSA reference number(s) Name shown in the Intermediary/Adviser section at the beginning of this form Date have been confirmed by:
Mortgage 4
Signature /
/
The details given in this section have Name been completed and confirmed by: Date
Sales Person no.
Mortgage 5
Signature /
/
Branch/Originating Unit no.
Northern Rock (Asset Management) plc – Registered in England and Wales (Company No. 3273685). Registered Office – Croft Road, Crossflatts, Bingley, West Yorkshire BD16 2UA. Authorised and regulated by the Financial Services Authority. Buy to Let mortgage application 36/36
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