Co-Ownership

We accept Co-Ownership applications.

EPC Rating

To be eligible for the Danske Carbon Neutral Mortgage the property needs to hold a valid EPC or PEA of A – C. The EPC must have at least 12 months validity remaining.

A valid EPC is required when a property is built, sold or rented. It gives a property a rating from A or 100 (most efficient) to G or 0 (least efficient) and is valid for 10 years.

You may be able to find a property’s rating on the UK Government's Find an energy certificate page (GOV.UK) .

If a property has never had an EPC rating, or it has expired, you need to book a property assessment (GOV.UK) to get a new Energy Performance Certificate.

There may be a cost associated with obtaining an EPC.

New-build homes will have a Predicted Energy Assessment (PEA) before they’re finished. This should be available from the builder or estate agent.

PEAs will be accepted for homes not yet completed.

Flats / Apartments / Maisonettes

Applications for flats, apartments and maisonettes must have a maximum LTV of 85%. The Loan to Value is based on the purchase price or valuation (whichever is the lower).

We do not currently accept applications for studio flats. The property must contain a minimum of one bedroom with a minimum internal habitable floor area of 30 square metres. We currently consider a maximum of 7 stories.

Leasehold

If leasehold, the property should have an unexpired term of more than 85 years at application. Where the remaining leasehold is less than 85 years, please contact us before submitting an application.

New Build

We accept applications for New Build properties. We define a New Build as a property that has been built/converted within the previous 2 years.

Max New Build LTV 90%

Max New Build Flat/Apartment LTV 85%

Building warranties

When a new property is built, the developer will provide a guarantee to ensure the building has been constructed to a standard set by the warranty provider. This is to ensure that any issues related to the property post-completion are covered by an insurance policy.

Acceptable Warranty schemes

Properties less than 10 years old should be covered by one of the following guarantees:

• Advantage HCI
• Ark Insurance Group Limited – Latent Defects Insurance
• Buildzone
• Checkmate
• Global Home Warranties Limited
• International Construction Warranties (ICW)
• LABC Warranty (MD Insurance Services Ltd. Is the scheme administrator for LABC Warranty)
• NHBC certificate
• One Guarantee Limited
• Premier Guarantee, includes the LABC New Homes Warranty & LABC Hallmark Scheme
• Protek
• Zurich Municipal Policy - (note that although no longer providing new scheme warranties, as at December 2015, this provider was supporting existing schemes, some of which include unsold property, so a new warranty may still commence in the current year on first sale). The warranty book has now been sold to Armour Risk Management (March 2018).
• Architect/Surveyor (Professional Consultant) Certificate - acceptable qualifications and indemnity cover are checked by the solicitor in accordance with the UK Finance Mortgage Lenders' Handbook.

Builder's cash incentives

Any incentive will be disclosed in the UK Finance Inventive Disclosure form which is required for all new builds.

Builder's cash incentives include but are not limited to deposit contribution, cash-back, contribution to legal fees/ stamp duty etc:

These will typically be acceptable on the following basis:

• The maximum amount of any builder's cash incentive is capped at 5% of the lower of the full purchase price or valuation
• A maximum of 5% of the full purchase price (or valuation if lower) can therefore be funded by a builder's cash incentive with the remaining deposit being sourced from the applicant's own funds
• The deposit/cashback does not have to be repaid and the builder does not intend to register a charge against the property

Property Types

We generally accept applications for a property of standard construction. High rise flats/apartments, bespoke construction types, or properties with access or residency anomalies or restrictions will not normally be considered.

Property Valuation Calculator

For remortgages (switchers), to give an indication of approximate property value in the absence of local house price knowledge, you may use Property Valuation Tool. However a professional valuation will be required and the value from this will be used for pricing and collateral purposes.

Download Property Valuation Calculator

Self-Build

Self-build Mortgages are available through our direct channels. Please refer the applicant(s) directly to us.

We will, however, consider applications for converting the applicant(s) Self Build facility to a mortgage when the home is nearing completion.

Shared Equity

We do not currently offer shared equity mortgages.

Valuation

A Professional Valuation is mandatory for all purchase, remortgage (switcher) and Co-Ownership applications. If the customer is an existing Danske Bank mortgage customer switching products, they will not normally require a professional valuation. The bank will appoint a valuer who will undertake the valuation. Please contact us if a client would prefer / requires the following:

• Home Buyers Report
• Full Structural Survey

Please note for co ownership purchases we will appoint a valuer. Valuations completed by / for Co ownership are not acceptable.