Customers with CCJs and defaults can be considered, subject to credit score and possible underwriter referral. Any CCJs/defaults registered within the last 6 years (regardless of whether they are still outstanding or repaid) must be disclosed.
Customers will be automatically declined whtn the following is applicable:
- Outstanding CCJ greater than £100 in the last 6 years.
- Satisfied or unsatisfied default greater than £100 in the last 12 months.
- Satisfied or unsatisfied default greater than £500 in the last 3 years.
- Two or more satisfied or unsatisfied defaults in the last 3 years.
Customers with arrears can be considered subject to credit score and possible underwriter referral. Mortgage arrears of 1 month or more within the last 6 years must be disclosed. Arrears for any other debt of 2 months or more within the last 6 years must be disclosed.
Customers will be automatically declined when the following is applicable:
- One month or more late with mortgage payment greater than £100 in the last 6 months.
- Two months or more late with payments on other individual debts identified via the credit search in the last 6 months.
Bankruptcy / IVA / Debt Relief Order
If any applicant has been in a state of bankruptcy, still have an outstanding bankruptcy restriction order against them, or been subject to an IVA or debt relief order within the last 6 years, applications will be declined.