A credit search will be carried out using an approved Credit Reference Agency.
Must be discharged/satisfied for a minimum of six years prior to application.
Trustee in Bankruptcy must confirm that there are no further claims against the applicant.
Subject to 100% subsequent record of prudent financial management.
None in the last three years.
Registered and satisfied more than three years ago, will be considered, subject to a maximum three CCJ’s to a total value of £500.
The following policy applies:
- A maximum of three defaults, to a total value of £250, registered over two years ago, and satisfied 12 months prior to application will be considered subject to a satisfactory explanation.
Specific criteria around mobile phone defaults:
- One default up to £250 registered by a mobile phone provider will be considered provided that it has been satisfied prior to application.
- Where the mobile phone provider default detailed above has not been satisfied, provided that the applicants are able to provide evidence that the matter is in dispute then the application can be considered, subject to Credit Committee approval.
Maximum two missed payments within the last two years may be considered, subject to satisfactory explanation.
Within last two years late payments on a credit agreement cannot exceed ‘2’ at any point. (e.g. ‘1’ or a ‘2’ on a credit agreement will be considered but a ‘3’ within the last two years will not be accepted).
Payday loans taken out and fully repaid more than 12 months prior to application may be considered.
Account must not exceed an agreed overdraft limit for more than seven consecutive days within the last three months preceding the application.
Applications where evidence that online gambling exceeds 25% of 3 month’s net salary will be declined.