SRBS Intermediaries - Criteria Hub

Lending Criteria

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From here you can easily search our lending criteria to find the answer to your questions. Simply search by 'keyword' or search using our A-Z tool.

Back to Back (Remortgage - Bridging)
Our standard acceptability:

Acceptable

Criteria definition:

Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Back to Back (Remortgage - Bridging) indicates if we will accept applications where the customer has funded the purchase from a bridging loan and now wishes to mortgage the property.

Our policy notes:

Stafford Railway Building Society can potentially accept back to back remortgages of this nature.

Last changed:

2 years ago on Wednesday 30th of May 2018

Back to back (Sub Sale Purchase - Other)
Our standard acceptability:

Acceptable

Criteria definition:

Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.In the case of Back to back (Purchase - Other) it indicates if we are able to potentially accept applications for purchases where the current owner has owned the property for less than 6 months and is now wishing to sell for a reason other than due to a previous part exchange or a lender repossession.

Our policy notes:

Stafford Railway Building Society can potentially accept back to back purchases of this nature on residential cases. We would normally expect to be repaying another lender. We do not allow debt consolidation on buy to let cases currently.

Warnings:

We would not normally consider lending to replenish individual applicants cash reserves/savings. We would not consider debt consolidation on buy to lets currently

Last changed:

2 years ago on Wednesday 30th of May 2018

Back to back (Sub Sale Purchase - Part Exchange)
Our standard acceptability:

Acceptable

Criteria definition:

Back to back is typically where the vendor has owned the property for less than six months , or remortgages where they've owned the property for less than six months.In the case of Back to back (Purchase - Part Exchange), it indicates if we are able to potentially accept applications for purchases where the current owner took the property as a part exchange on a previous sale. An example would be where a builder sold a property to someone and took their property as a part exchange and now wishes to sell that property and the part exchange falls within the last 6 months.

Our policy notes:

Stafford Railway Building Society can potentially accept back to back purchases of this nature.

Last changed:

2 years ago on Wednesday 30th of May 2018

Back to back (Sub Sale Purchase - Repossessed)
Our standard acceptability:

Not Acceptable

Criteria definition:

Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.In the case of Back to back (Purchase - Repossessed), it indicates if we are able to potentially accept applications for purchases where the current owner is a lender that has repossessed the property being sold from the previous owner in the past 6 months.

Our policy notes:

Stafford Railway Building Society does not accept back to back purchases of this nature.

Last changed:

2 years ago on Sunday 22nd of July 2018

Benefit Income: Adoption Allowance
Our standard acceptability:

Not Acceptable

Criteria definition:

Displays if we will accept Adoption Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept adoption allowance as an income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Back to back (Remortgage - Customer Funded)
Our standard acceptability:

Acceptable

Criteria definition:

Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Back to back (Remortgage - Customer Funded), indicates if we can accept applications where the customer has funded the purchase from their own funds and now wish to mortgage the property.

Our policy notes:

Stafford Railway Building Society can potentially accept back to back remortgages of this nature.

Last changed:

9 months ago on Friday 03rd of January 2020

Back to back (Remortgage - Inherited)
Our standard acceptability:

Acceptable

Criteria definition:

Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Back to back (Remortgage - Inherited) indicates if we will accept applications where the customer has inherited a property and now wish to mortgage it on a residential basis.

Our policy notes:

We will accept applications where the customer has inherited a property and now wish to mortgage it on a residential basis.

Last changed:

20 months ago on Saturday 09th of February 2019

Benefit Income: Attendance Allowance
Our standard acceptability:

Not Acceptable

Criteria definition:

Displays if we will accept Attendance Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept attendance allowance as an income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Back to back (Remortgage - Ported)
Our standard acceptability:

Acceptable

Criteria definition:

Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Back to back (Remortgage - Ported) indicates if we will accept applications where the customer has recently moved and ported their mortgage, their product has come to an end shortly after and they now wish to remortgage. For example, Jeff moved into his new property last month and ported his existing mortgage across so as to avoid an early repayment charge on his then-current mortgage. The current product, however, expires about a month after his move in date and so he would like to remortgage to a new lender in order to obtain a new product even though he has only been in the property for one month.

Our policy notes:

Stafford Railway Building Society can potentially accept back to back remortgages of this nature.

Last changed:

2 years ago on Wednesday 30th of May 2018

Benefit Income: Carers Allowance
Our standard acceptability:

Acceptable

Criteria definition:

Displays if we will accept Carers Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society can accept carers allowance as an income type.

Warnings:

We will consider Carers allowance (50%). Consideration will be given to the time the applicant will be in receipt of the income.

Last changed:

1 month ago on Tuesday 22nd of September 2020

Benefit Income: Working Tax Credits
Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we accept working tax credits as an allowable income type for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept working tax credits as an income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Benefit Income: Child Tax Credits
Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we accept child tax credits as an allowable income type for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept child tax credits as an income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Benefit Income: Child Benefit
Our standard acceptability:

Acceptable

Criteria definition:

Displays if we will accept Child Benefit as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society can accept child benefit as an income type.

Warnings:

We will consider Child Benefit (50% and subject to the age of children), Consideration will be given to the time the applicant will be in receipt of the income.

Last changed:

1 month ago on Tuesday 22nd of September 2020

Benefit Income: Disability Living Allowance (DLA)
Our standard acceptability:

Not Acceptable

Criteria definition:

Displays if we will accept Disability Living Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept disability living allowance as an income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Benefit Income: Employment and Support Allowance
Our standard acceptability:

Not Acceptable

Criteria definition:

Displays if we will accept Employment and Support Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept employment and support allowance as an income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Benefit Income: Guardian Allowance
Our standard acceptability:

Not Acceptable

Criteria definition:

Displays if we will accept Guardian Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept guardian allowance as an income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Benefit Income: Industrial Injuries Disablement Benefit
Our standard acceptability:

Not Acceptable

Criteria definition:

Displays if we will accept Industrial Injuries Disablement Benefit as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept industrial injuries disablement benefit as an income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Benefit Income: Personal Independence Payment (PIP)
Our standard acceptability:

Not Acceptable

Criteria definition:

Displays if we will accept Personal Independence Payment as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept personal independence payment as an income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Benefit Income: Universal Credit
Our standard acceptability:

Not Acceptable

Criteria definition:

Displays if we will accept Universal Credit as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept universal credit as an acceptable income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Benefit Income: Constant Attendance Allowance
Our standard acceptability:

Not Acceptable

Criteria definition:

Displays if we will accept Constant Attendance Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

Stafford Railway Building Society does not accept constant attendance allowance as an income type.

Last changed:

2 years ago on Wednesday 30th of May 2018

Back to back (Remortgage - Other)
Our standard acceptability:

Acceptable

Criteria definition:

Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.In the case of Back to back (Remortgage - Other) it indicates if we are able to potentially accept remortgage applications where the current owner has owned the property for less than 6 months and is now looking to remortgage for a reason other than due to the property being inherited, remortgaging having recently ported, to repay bridging finance or to mortgage having originally purchase the property for cash.

Our policy notes:

Stafford Railway Building Society can potentially accept back to back remortgages of this nature.

Last changed:

2 years ago on Sunday 22nd of July 2018

Buy for University (Student Mortgages)
Our standard acceptability:

Not Offered

Criteria definition:

Indicates if we can potentially consider applications on a Buy for University Scheme. Buy for uni allows students to borrow up to 100% to buy a property and rent out rooms to meet the mortgage interest payments. Parents support the arrangement by being a joint borrower on the mortgage and by providing additional security if necessary

Our policy notes:

Stafford Railway Building Society will not consider applications on a Buy for Uni Scheme

Last changed:

1 month ago on Tuesday 22nd of September 2020