Prime-indexed with a ten-year draw and a twenty-year repayment, behind any first including one we do not hold. A lighter appraisal requirement keeps the cost of opening the line down, which is usually what kills these deals.
Draw, repay, draw again. For the borrower who wants access rather than a lump sum.
Program highlights
Figures are the programme maximum at a glance. A file rarely qualifies at the maximum on two axes at once, and the guideline in force on the lock date governs. Nothing here is a commitment to lend.
Questions
An automated valuation or a hybrid where the property and the CLTV support it, which is what keeps the cost of opening the line down. A full appraisal is ordered only when the file needs one.
Yes, as a piggyback behind the first. Register both at the same time so the disclosures line up.
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