Packaging & criteria

Ejector seat

The ejector seat is only applicable to cases with income boosters.

Our ejector seat feature can be used to extend the term by removing boosters part way through the term so they do not exceed our maximum age criteria. We do this by adding a condition to the mortgage. All boosters will be removed at the same time, when the first one exceeds our age criteria. Owners can choose to remove boosters earlier by remortgaging, subject to passing affordability checks at that time.

We calculate how much of the loan will have been paid off by the time the boosters exceed our age criteria, and use this to determine if the owners would be able to afford the remaining loan on their own at that point.

Please note that ejector seat does not always allow the term to be extended to our 40 year maximum. For an accurate term range please get a DIP or contact us.