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Westexe Mortgages
@WestexeMortgage

 

Welcome to the
 

Westexe Introducers Resource
 
 

We will endeavour to keep this page updated with the latest mortgage information and criteria guidance to empower you with the knowledge to overcome finance objections and close more sales.

If there is any content you would like to see added to this section please do let us know.

 

 

Product Information & Criteria Guidance
 
 

You can find product information by selecting from the following sections:
 
Residential   BTL/LTB/HMO   Self Build   Commercial  Bridging   Latest Rates

 

 

R e s i d e n t i a l
Acceptable income Self-employed Net Profit (Accounts, Accountants Certificate or SA302) - Company Directors salary, dividends & own share of Net Profit (Accountants Certificate) - Employed 100% of gross annual salary plus 50-100% of bonuses, commission, overtime,Tax Credits, Pension, & some state benefits (varies between lenders) . 2nd jobs / second income acceptable as additional income for all income types

Adverse/poor credit history, declined elsewhere.

 We can place mortgages for applicants with previous poor credit history (CCJ's, Defaults, arrears, failed credit score, declined elsewhere) with possible limits on LTV  and subject to status. These will generally receive no more than 3 to 3.5x income. Discharged bankrupt's can be placed.

Affordability & income multiples

 Income multiple guidelines vary between 3 & 5 times income (single and joint) and are dependent on credit scoring in most cases. We also have access to a lender that will lend up to 6.25 times income.
Ages & terms  Minimum age 18 to maximum of 75 at end of mortgage term.  In cases where there is good pension income it is possible to obtain products with a maximum age of 99 at end of mortgage term. Equity release products are also available to over 55's.
Employment status Self employed from 1 years trading & 1 years accounts. Employed no minimum for employment term - day 1, future start dates, temp workers & contract workers are all acceptable.
Ex-Pat & foreigners Please refer!
Guarantors Various schemes and options available upto 100% LTV. Also the option of gifted deposits!
Loan-To-Value ranges Maximum of 100% LTV (with guarantee) or 95% LTV otherwise.
No. of applicants Maximum of 4 applicants. - can be friends and other family members
Repayment methods All options available - Repayment up to 100% LTV.  Interest Only up to 75% LTV, will generally require a repayment vehicle, sale of investment property or sale of mortgaged property
   

S e l f  B u i l d
Acceptable income Self-employed Net Profit (Accounts, Accountants Certificate or SA302) - Company Directors salary, dividends (Accountants Certificate) - Employed 100% of gross annual salary plus 50-100% of bonuses, commission, overtime,Tax Credits, Pension, & some state benefits (varies between lenders) . 2nd jobs / second income acceptable as additional income for all income types
Adverse/poor credit history Not available
Affordability & income multiples  Income multiple guidelines vary between 3 & 5 times income (single and joint) and are dependent on credit scoring in most cases.
Ages & terms  Minimum age 18 to maximum of 75 at end of mortgage term.
Employment status Minimum 2 year self employed / No minimum for employed.
Ex-Pat & foreigners Please refer!
Guarantors Not available
Loan-To-Value ranges Maximum 85% LTV
No. of applicants Maximum of 4 applicants.
Repayment methods All options available, but interest only will generally require a repayment vehicle.
   

B T L / L T B / H M O
Miniumum Income No proof of minimum income required
Ages & terms Minimum age 18 to maximum of 90 at end of mortgage term.
Employment status Employed, self emplyed or retired. No proof of personal income required
Ex-Pat & foreigners Please refer!
Loan-To-Value ranges Buy to Let maximum 85% LTV, first time landlords maxiumum 75% LTV. HMO's 75% for purchase and 65% for remortgage, higher LTV's for HMO may be available on request. Let to Buy up to 75% LTV available to first time landlords, suitable for raising deposit for onward purchase.
No. of applicants Maximum of 4 applicants.
Repayment methods All options available. Interest Only acceptable (Sale of property is acceptable with most lenders).
General Info Light and heavy refurbishment products available.
   

C o m m e r c i a l
Loan-To-Value ranges Generally upto 70% LTV, but higher LTVs may be available on request.
Interest rates Typically 4.0-4.5% over base. For commercial development rates similar to bridging at circa 1.5% per month.
Arrangement Fees Typically around 1.5-2.0% of the loan amount.
Ages & terms Minimum age 18, but no known maximum age.
   
General Info Always refer commercial cases as availability varies widely depending on the situation.
   

B r i d g i n g
Loan-To-Value ranges Generally upto 70% LTV, but higher LTVs may be available on request. Without proof of income no more than 65% LTV.
Interest rates  Typically 0.75-1.65% per month depending on the scenario.
Arrangement Fees  Typically around 1.5-2.0% of the loan amount. 
   
   
General Info  
   

L a t e s t  Residential Rates
 2 year fixed rates  From 3.18% (60% LTV)    -    3.49% (75% LTV)    -    3.89% (85% LTV)    -    4.69% (90% LTV)
 3 year fixed rates  From 3.44% (70% LTV)    -    3.79% (75% LTV)    -    4.49% (85% LTV)    -    5.29% (90%LTV)    -    5.29% (95% LTV)
 5 year fixed rates  From 4.19% (75% LTV)    -    4.59% (85% LTV)    -    5.55% (90% LTV)    -    5.99% (95%LTV)
   
 Tracker rates  From 2.80% (60% LTV)    -    2.80%  (75% LTV)    -    2.95% (85% LTV)    -    2.95% (90% LTV)
   
 Exclusives  100% LTV Mortgage  5.98% fixed for 2 or 3 years.    10 year fixed 4.99% (75%LTV)
 BTL rates A full range available from 2.94% (65% LTV) to 5.99% (85% LTV)  rates vary dependent upon LTV, product type, landlord type, rental income & personal income.