Criteria assessment tool
- How do your valuations work?
Where the valuer confirms that specialist reports are required Landbay will require the applicant to arrange the reports which will be sent to the valuer for comment. Please note that the specialist reports must be completed by the recognised contractors identified by Landbay or the surveyor.
No monies will be released until essential repairs have been undertaken. Upon completion of the works, the original valuer will be required to re-inspect the property to confirm its suitability for mortgage purposes and provide a revised valuation figure where applicable.
Valuations are usually valid for 120 days.
- What is the minimum property value?
The minimum property value is £75,000 for single self-contained units. Please click here for more information about our borrowing criteria.
- Single self-contained units – £65,000
- HMOs and MUFBs – £120,000
- HMOs in qualifying postcodes – £75,000
(BB, BD, CA, CW, DH, DL, FY, HD, HX, L, LA, M, NE, OL, PR, SK, TS, WA, WF, WN, YO
- What is you maximum loan size?
We currently loan up to £2,000,000 per property with a max LTV of 65%.
Please see our LTV guide for other loan sizes.
- What are the rules for your ICRs?
Click here for our full ICR rules.
- What properties do you exclude?
- Properties with low demand as a result of location/ condition/ maintenance
- New build properties that benefit from a Rental Guarantee incentive.
- Properties with Local Authority approval for uses other than residential
- Normally Ex Local Authority apartments. This is the case where most units are still being used for social housing
- Non-traditional construction e.g. timber frame, concrete or any designated defective under the housing act
- Converted properties where the applicant is resident in a different unit in the building
- Properties that are subject to any restrictions (occupancy/use/ resale), e.g. Agricultural restrictions
- Properties subject to adverse notices, mineral extraction, contaminated land, landfill, mining subsidence. Also, properties with Japanese Knotweed excluded
- Properties located adjacent to an electrical sub-station (small substations will be acceptable subject to valuer’s comments) or communication mast or within 100m of overhead high voltage cables/ pylons
- Properties held in Trust
- Right to buy scheme or subject to a pre-emption clause
- Properties that are, or have been shared ownership
- Built within the last 10 years without an NHBC certificate or other guarantee acceptable to us
- Properties with solar panels which are subject to a lease agreement
- Properties that are adjacent to commercial premises that could materially impact marketability, e.g. Pubs, takeaways and petrol stations. Properties being purchased at under market value
- Properties being purchased at under market value
- Grade I & Grade II listed properties
- Properties that have cladding and do not have an acceptable cladding fire test certificate
- Flying freehold greater than 15% of the total property area
- Freehold Flats
- Ex-local authority properties with deck access
- New Build Flats where the ground rent exceeds 0.10% of the property value
- Properties liable to flooding
- Properties with non-standard insurance terms
- New build properties that do not meet EWS1 grade A1 standard
NB – Purchases involving property clubs or syndicates are excluded.
NB – Properties that include rental guarantees. (this also includes developments as a whole)