Mortgage Types - Broker

What does TSM stand for?

• Transfer subject to Mandate

• Transfer subject to move

• Transfer subject to mortgage

When a customer is porting they will move lender but keep the same interest rate

• True

• False

• It can vary

What does LTB stand for?

• Let to Buy

• Let to Borrow

• Buy to Let backwards

• Let to break

We will lend 100% of the discount price on a family purchase, but what is the max LTV this can go to?

• 85%

• 80%

• 90%

• 95%

what % will the government loan a customer using the HTB scheme?

• 10%

• 15%

• 20%

• 25%

If a customer has a HTB loan in place, they are only allowed to raise funds to repay this or HI (providing it's agreed by HTB)

• True

• False

What letter do we need to see at underwrite for a customer using the Armed Forces HTB

• MOD

• PIN

• TOG

• PIF

All names on the right to buy notice must be named on the mortgage

• True

• False

What is the minimum % a customer should be able to staircase on a shared ownership application?

• 3%

• 5%

• 7%

• 10%

which of these are not acceptable on the LIFT scheme?

• New Builds

• Houses

• Flats

• Maisonette

• deck access