Standard Discount Criteria

Criteria Type	Description
Minimum Loan	£15,001 for purchases, £25,001 for remortgages.
Maximum Loan	£1 million (unless otherwise stated). For availability over £1m please call us.
Loan Tiers	95% up to £300,000, 90% up to £500,000, 85% up to £750,000, 80% up to £850,000, 75% up to £1m. For loans above £1m please ask. Fees may be added. Conditions apply.
Age	Minimum 18.
Term	To normal retirement age subject to a minimum term of 10 years (shorter terms considered by exception where the underwriter is satisfied that ability to pay exists).
Income Multiples	4.5 x main allowable income plus 1 x second allowable income or 4 x joint income.
Refinance	Debt Consolidation up to 95% maximum 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% 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 additional security fee on the excess loan over 75% LTV. The Higher Lending Charge can be added to the loan. Higher Lending Charge Bands Over 85% to 90%: 7.25% Over 90% to 95%: 8.65%
Property	No shared equity, right to buys. Flats in converted office blocks and speculatively converted ex local authority blocks are unacceptable. Properties that were built within the last 12 months, or that are being purchased for the first time since conversion are acceptable up to 75% LTV.
Free Valuations	We will pay for one standard valuation to be completed on the application but we may not always arrange for a valuer to go and inspect the property.
Overpayments	Up to 10% of the mortgage balance may be repaid each year without incurring any early repayment or administration charges providing each overpayment is a minimum of £2,000. This is calculated on the outstanding mortgage balance as at the previous 31st March each year.
Lending Fee	£195 (due on completion but payment can be deferred until the mortgage is fully repaid).

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. No Further Loans.
Lending Areas	England, Scotland and Wales (unless otherwise stated).
Early Repayment Charge	In addition to any product specific early repayment charge we also charge a lending fee (£195), which is due on completion but payment can be deferred until the mortgage is fully repaid. For part repayments an additional fee applies.
Clean Credit History	For last 3 years: No mortgage/rent/loan arrears Max 2 consecutive missed payments on credit/store cards Max 1 CCJ to £250, 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 completing on a new Bristol & West Mortgages 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 and Self Cert applicants are elgible for 3 months' free Mortgage Payment Protection Insurance (MPPI). This offer is only open to applicants who purchase MPPI through Bristol & West Mortgages' relationship with Pinnacle Insurance and is subject to insurance underwriting criteria.
Free Legals for Remortgages	If stated in the Offer of Loan, Bristol & West Mortgages will pay for the legal fees and disbursements (excluding additional work, see 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 applicants wish to arrange their own legal representation they will be responsible for the legal costs and disbursements incurred. 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.
Arrangement Fees	Payments should not be made at application stage. Bristol & West Mortgages will deduct the fee from the loan amount upon completion or add it to the loan amount.
Property Owner	We only accept transactions where the seller is the owner or registered proprietor of the property, and has been so for at least 12 months. For all remortgage business the registered owner or proprietor must have owned the property for a period of at least 12 months.
Property	Properties built within the last 12 months, or being purchased for the first time since conversion are acceptable up to 75% LTV. Please note that for Buy to Let mortgages, we do not accept flats or maisonettes built within the last 12 months or being purchased for the first time since conversion.

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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