Our Lending Criteria Guidelines
About us...
At Harpenden Building Society, we’re a specialist mortgage lender dedicated to working exclusively with intermediaries. We partner with brokers and financial advisers to help them deliver tailored solutions for clients — no matter how complicated their circumstances may be. We know that when it comes to property finance, one size never fits all. Every client’s situation is unique, and a standardised approach simply won’t work. That’s why we take a hands-on, flexible approach to lending.
We’ve adapted our lending policy to keep pace with the evolving property market and modern financial needs. Through our bespoke underwriting process, we’re able to support unusual property types, non-standard income, and quirky cases that many other lenders won’t consider.
At Harpenden Building Society, we’re not just open to complex borrowingwe’re built for it.
Diverse product portfolio with fixed rate products available
Unique and unusual property types
Complex income streams accepted
Up to 6x income and up to four applicants with all income considered
No upper age limits
Large Loans of £3.5m for Residential and £2m for Self-Build
Mortgages
£150,000£3,500,000
75%
Properties with an annexe intended for Let or use by friends or family are accepted
We accept selected foreign incomes for affordability
Our Buy-to-Let (Standard) Mortgages
Our Self-Build Mortgages
Loans for purchase, remortgage or release of equity from property held as an investment, where the rental income from the property
We consider non-owner-occupied properties for BTL mortgage lending
Scan to view our dedicated BTL Mortgages section.
We accept first-time buyers and landlords, plus experienced ones
Top-slicing options are available
We consider non standard construction types, depending on valuers’ comments
We offer mortgages for up to three properties being built, one as the main residence New builds on owneroccupied land
Barn conversions, new builds, knock-down/rebuilds and land purchases with planning permission are all accepted
Scan to view our dedicated Self-Build Mortgages section.
Ex-Pat Lending
We accept selected foreign incomes for affordability (On interest-only applications only)
Foreign nationals with permanent right to remain in the UK or Spousal Visa (with one applicant being a full UK passport holder)
Applicants must nominate a UK correspondence address No minimum or maximum time abroad
Over 40 countries on the approved list
The following types of income are acceptable subject to the related evidence being provided:
• Three months’ payslips and P60
• Two most recent P60s for any bonus payments, overtime or other allowances Self-
• Three most recent Tax calculations and corresponding Tax Overviews OR
• Business accounts for the last three years OR
• Accounts certificate confirming latest Trading year (within last 18 months). Business Plan/detailed explanation if the business has not been established for three years, is developing or the results fluctuate
• 12 months contracting is usually required but less can be considered if experienced in this profession
Contractor
• Minimum three months contract remaining
• Affordability based on five days/46 weeks
Lending into Retirement
• Recent pension projections Retired
• Pension statement or P60 for each individual pension
Investment and Savings Income
• A copy of the signed Court Order OR
• Six months bank statements demonstrating the income, along with a letter confirming the informal arrangement by the person paying the maintenance
• Three most recent Tax Calculations and Tax Overviews from HMRC
• Savings and/or investment statements over the last 12 months and bank statements for the last three months
• Three most recent Tax Calculations and Tax Overviews from HMRC
• Assured Shorthold Tenancy agreement
• We require confirmation from the Society’s Valuer regarding anticipated rental income (for proposed Security property)
• An appraisal letter from a local letting agent
• Legal document and bank statements for the last three months
Foreign Income
We accept foreign income sources for affordability for the following income types (only available for Interest Only mortgages):
• Employed
• Self-Employed
• Pension
Euro
Swiss Francs
US Dollars
Australian Dollars
Australian Dollars
Danish/Swedish/Norwegian Krona
New Zealand Dollars
Singapore Dollars
Saudi Riyals
UAE Dirhams
Hong Kong Dollars
Kuwaiti Dinar
Polish Zloty
Indian Rupees
• Investment
• Rental
• Contractor (employed or self-employed)
Qatar Rials
Hungarian Forint
Japanese Yen
South African Rand
Thai Bhat
Interest Only Repayment Strategy
The following Interest Only Strategies can be considered.
Sale of Owner-Occupied Property
Sale of HBS Security Property (Let/2nd Home)
Sale of Additional Property (Non-HBS Security)
75% £150,000
N/A
• Only acceptable where security property is BTL of Second/Holiday Home
• Current equity in additional property sufficient to repay HBS mortgage
• LTV on additional property is under 50% and equity exceeds £150k
• Property is in an area with a track record of strong demand/property values
• 100% of funds accepted if savings in Cash ISA or bank/building Society savings account
• 70% of projected end value accepted if regular investments/savings for at least the last 12 months
• 65% of current value accepted when lump sum invested in equities
• 50% of current value accepted if lump sum invested in AIM (Alternative Investment Market)
Other repayment strategies can be considered, please contact our team for more information:
Properties Considered
We can consider the following when it comes to property types.
With two kitchens (dependent upon usage)
Holiday Homes and Holiday Lets
Self-build properties, either a knock down and re-build or the purchase of a piece of land with planning permission
Refurbishment, i.e. converting a house that is currently divided into two flats, back into one single dwelling
Flats – converted or purpose built
Two or three properties or flats on one title
Property with land considered
Unique properties including Grade II listed properties and thatched
All conventional types of construction e.g brick/tile/ stone/slate
Mixed commercial / residential properties where the residential area is over 50% of the total footprint
With a granny flat/annexe (or similar) which the applicant intends to use either for family and friends or to be let out on an AST or holiday let
Not Acceptable
• Concrete/steel-framed houses
• Properties where high-alumina cement has been used in the construction
• Pre-cast, reinforced concrete houses designated as defective under Housing Act 1985
• Freehold, Studio or Bedsit flats
• Multiple occupancy property
• Property affected by subsidence
• Houseboats
• Any properties that the Society’s valuer does not consider suitable as security
Deposits
• Savings from different sources
• Equity from residential or other properties
• Ltd Company BTL only:
• Gift of equity where properties are already owned by director(s) and are being purchased by their Ltd Company
• Ltd Company BTL only - Inter-company loan subject to:
• Company structures mirrored across subject and donor company
• Directors/shareholders must match
• UK to UK companies
• Minimum 12 months trading of donor company
• Gifted deposit
• Up to date savings statements
• Immediate family
• Letter from the solicitor confirming the amount
• Written confirmation of the gift
Our Criteria
An enhanced broker journey is essential for us to provide you with functionality that can simplify the process, give you options and provide you with a full breakdown and detailed information of our criteria.
Our BTL and Residential Mortgage criteria pages are a vital tool in providing you this information. Each page gives you any criteria policy notes, descriptions and value.
There are categories and topics filters to help narrow your search and access the specific criteria necessary. You can also use the search toolbar for easy access.
Mortgage Affordability Calculator
Our Mortgage Affordability Calculator is designed to provide you with an estimate of how much money may be borrowed, upon completing the necessary details.
Here are a few useful tips:
• Make sure you take a print copy for your records
• There are stages within the income/ expenditure section where the figures required are annual and monthly – so be careful when inputting the figures
• There are Tool Tips added in some sections, if you feel the experience can be improved further, please do let the BDM know when requesting an Agreement in Principle
Please note that this calculator’s purpose is to act as a guide only. You can save and print your completed estimate and contact our Business Development team to discuss your requirements in more detail. You can find our affordability calculator in the intermediaries section of our website.
We do have some planned enhancements occurring, however, any constructive suggestions would be gratefully received. Please speak to our BDMs.
Online Applications –Broker Portal
You can submit a full mortgage application and any supporting documents by using our Broker portal.
By using the Broker portal you can:
• Register as an intermediary
• Complete and submit a full mortgage application and supporting documents
• Provide any additional documents or information requested by our mortgage team once your application has been initially assessed
Please ensure you have referred your case to our Business Development team and have received an Agreement in Principle before submitting a full application –you can contact us at brokerteam@harpendenbs.co.uk.
Please note our Online Application portal is for new mortgage applications only.
If you have a client who is looking to increase the amount of their existing mortgage with us (and is not changing property), please complete the Additional Borrowing form from the intermediaries section of our website and email to brokerteam@harpendenbs.co.uk.
Additional Resources
Alongside our affordability calculator and Broker Portal, you also have access to materials, functionality and channels which can enhance your journey with us. You can access any time the following:
Remember you can stay in touch with us by opting to receive our
