WHO CAN APPLY
To apply for an ING Direct mortgage please check that you and your property fit with the following criteria. If you have any questions about our lending criteria, please call our Customer Services Team on 0800 032 8822. (Calls from UK land lines are free. The cost of calls from mobile phones may vary.)
About you
You can apply if you:
- Are aged over 18 years and less than 75 years old at the end of the mortgage term
- Are currently living in the UK with the legal right of residency in the UK
- Are able to provide address history for the past 3 years
- Are employed and have been for a minimum of 6 months and able to provide your most
recent payslip or are self employed and able to provide your last 2 years' tax assessments
and your last 3 months business and personal bank statements - Have a clean credit history
- Are borrowing between £50,000 and £1,000,000:
- Up to £500,000 you can borrow up to 80% of the value of the property
- Over £500,000 up to £1,000,000 you can borrow up to 70% of the value of the property
- Are applying for a mortgage term between 5 and 40 years (providing you are under 75 years
at the end of the mortgage term) - Have a maximum of 2 applicants, guarantors are not allowed
If your mortgage term extends beyond your anticipated retirement date we require confirmation that you will be able to meet the repayments. If you are within 3 years of your anticipated retirement date we will require documented proof that your retirement income is sufficient to repay the loan.
Acceptable repayment plans for interest only mortgages
The following forms of repayment plan are acceptable. You must ensure that the plan provides sufficient funds to repay the full amount of the interest only part of your mortgage at the end of the term.
- Endowment
- Pension
- ISA
- PEPs
- Unit Trusts
- Managed share portfolio of listed companies
If you intend repaying the loan through sale of your main residence this can only be considered to a maximum of 60% LTV and a minimum of £150,000 equity
If you do not have an acceptable plan in place we can only offer a repayment mortgage.
About your property
- Your property must be your main residence and located in England, Wales or mainland Scotland and of standard brick or stone and tile or slate construction
- If your property is leasehold you must have at least 30 years remaining on the lease at
the end of the mortgage - New build properties must be covered by an NHBC or Premier guarantee
- We do not offer mortgages for Buy to Let, Right to Buy, shared ownership or equity share schemes, second homes, commercial property, building land, self-builds, or freehold flats
