First Start Criteria

Criteria Type	Description
Minimum Loan	£15,001 for purchase, £25,001 for remortgagers
Maximum Loan	£1m
Loan Tiers	100% up to £250,000, 90% up to £500,000, 85% up to £750,000, 80% up to £850,000, 75% up to £1m and 70% to £2m. For loans above £2m please ask. Conditions may apply - please ask for details.
Age	Minimum Age 18. Family member's maximum age 60.
Term	To normal retirement age of the child subject to a minimum term of 10 years (shorter terms considered by exception where the underwriter is satisfied that ability to pay exists). Maximum of 35 years.
Income Multiples	4 x main plus 1 x second allowable income or 3.25 joint where one applicant has a gross income of over £20,000 and both applicants have a clean credit history (see General Lending Criteria), otherwise 3.5 x main plus 1 x second allowable income or 2.75 x joint allowable income if greater.
Refinance	Debt Consolidation up to 95% LTV, subject to clean credit history (see General Lending Criteria), where all other standard lending criteria is satisfied.
Higher Lending Charge	Where the loan required exceeds 85% LTV of the lower of the purchase price or valuation and is not a product described as 'Higher Lending Charge paid by Bristol & West Mortgages' the borrower will pay the following Higher Lending Charge on the excess loan over 75% LTV.
Higher Lending Charge Bands	Over 85% to 90%: 7.25% Over 90% to 95%: 8.65%
Portability	All First Start products are portable

First Start is not available in Scotland

General Lending Criteria

Criteria Type	Description
Employment Status	Employed, Self Employed, Fixed Term Contracts, Short Term Contracts, and Probation periods are all considered.
Loan Types	Repayment and Interest Only.
Lending Areas	England, Scotland $ and Wales
Early Repayment Charge	In addition to any product specific early repayment charge there will be a discharge administration fee to cover our reasonable costs.
Clean Credit Historys	For the last 3 years: No mortgage / rent / loan arrears Max 2 consecutive missed payments on credit / store cards Max 1 CCJ to £250n not in the last 12 months Comms / mail order arrears ignored unless scale / frequency is a cause for concern
Portability	All mortgages are portable when redeeming and simultaneously completing on a new Bristol & West Mortgage. Conditions apply - please ask for details.
Insurance	If applicants arrange their own buildings insurance a fee of £25 is payable to Bristol & West Mortgages to cover our additional administration costs. All standard mortgages benefit from 3 months free Mortgage Payment Protection Insurance (MPPI).
Free Legals for Remortgagers	If stated in the Offer of Loan, Bristol & West Mortgages will pay for the legal fees and disbursements (excluding additional work, see paragraph below) and any additional leasehold charges providing the remortgage transaction is handled via Legal Marketing Services, and is completed. The firm of Solicitors instructed will act for us only. If the customer wishes to have their own legal representation they will be solely responsible for the legal costs and disbursements incurred. Taking out a mortgage has important implications – make sure that before entering into this commitment your customer gets proper advice. Please Note: Bristol & West Mortgages will not pay for charges relating to additional work outside the scope of a standard remortgage transaction. This includes further valuation reports, related legal services, transfer of equity, deed of postponement, deed of grant, deed of variation, merger of freehold or leasehold title, change of name, telegraphic transfer of surplus funds to borrower, local searches for loans over £750,000, or if an exceptional amount of work is required to correct a defective title. For further details please see our ‘Free Legals for Remortgagers’ information sheet.

$ Except First Start and Lifetime

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Bristol & West Mortgages is a trading name of the Governor and Company of the Bank of Ireland which is incorporated in the Republic of Ireland with limited liability and registered in England and Wales with branch number BR000459. Authorised by the Irish Financial Regulator and authorised subject to limited regulation by the Financial Services Authority. Details about the extent of our authorisation and regulation by the Financial Services Authority are available from us on request.

Bristol & West Mortgages: One Temple Back East, Temple Quay, Bristol BS1 6DX, Telephone: (0117) 979 2222. Fax: (0117) 929 3787. Website: www.bristolandwest4brokers.co.uk