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Credit, Product & Criteria overview
Residential Credit History
| Criteria | Flexi fixed for term | Select | Core | Resi 12 | Resi 6 |
| Ranges | Flexi Fixed for Term | Select Residential, eKo, Tracker, Hero, Professionals, Large Loan, Shared
Ownership, Own New Rate Reducer | Core Residential, Help to Buy Remortgage, Help to Buy Wales, Right to Buy | Resi 12 | Resi 6 |
| Defaults acceptable (if older than) | 36 months | 36 months No limit on number or value | 24 months No limit on number or value | 0 in 12 months 1 in last 24 months Max of £1,500 | 0 in 6 months 1 in last 24 months Max of £1,500 |
| Secured loan/rent arrears acceptable (if older than) | 36 months | 36 months | 24 months | 0 in 12 months Worst status 1 in 24 months | 0 in 3 months Worst status 1 in 24 months |
| CCJs (unsatisfied CCJ’s will be accepted at the underwriters discretion) | Satisfied CCJs acceptable if older than 72 months | 36 months 72 months for loans above 90% LTV No limit on number or value | 24 months No limit on number or value | 0 in 12 months (registered)
1 in last 24 months
Max of £1,000 | 0 in 6 months (registered) 1 in last 24 months Max of £1,000 |
| Unsecured credit arrears acceptable if accounts now up to date | Max status of 0 in last 24 months | Max status of 2 in last 12 months | Max status of 2 in last 12 months | Max status of 2 in last 12 months | No max status Last 6 months of payments must have been made |
| Debt management plans (DMPs) acceptable with a track record of | None / not acceptable | 12 months | 12 months | 12 months | 12 months |
| No payday loans, taken out within the last | 24 months | 12 months | 12 months | 12 months | 6 months |
Important bankruptcy update:We can accept
customers that have not been, in the last 6 years, subject
to proceedings for Bankruptcy/ Sequestration or an
Individual Voluntary Arrangement (IVA)/ Protected Trust
Deed and/or Debt Arrangement Scheme (DAS) and must
be satisfied/discharged and no longer showing on credit
bureau.
Communication/Insurance/Bank Account and utility defaults: We don't take into account Communication/Insurance defaults. Utility defaults cannot exceed £250 per application. Bank Account defaults/arrears subject to underwriter discretion.
Buy to Let Credit History
| Criteria | Prime | Core |
| Ranges | Buy to Let – including Limited Company, eKo, HMO/MUB | Buy to Let- including Limited Company, HMO/MUB, eKo, Tracker |
| Minimum property value | £150,000 | £100,000 |
| Defaults acceptable (if older than) | 36 months | 24 months |
| Secured loan/ rent arrears acceptable (if older than) | 36 months | 24 months |
| CCJs (unsatisfied CCJ’s will be accepted at the underwriters discretion) | 72 months | 24 months |
| Unsecured credit arrears acceptable if accounts now up to date | None in last 12 months | Max status of 2 in last 12 months |
| Debt management plans (DMPs) acceptable with a track record of | Cannot actively be in a DMP, must have been closed over 12 months ago | 12 months |
| No payday loans, taken out within the last | 12 months and cannot actively be in a payday loan | 12 months |
Important bankruptcy update:We can accept customers that have not been, in the last 6 years, subject to proceedings for Bankruptcy/ Sequestration or an Individual Voluntary Arrangement (IVA)/ Protected Trust Deed and/or Debt Arrangement Scheme (DAS) and must be satisfied/discharged and no longer showing on credit bureau.
Communication/Insurance/Bank Account and utility defaults:We don't take into account Communication/Insurance defaults. Utility defaults cannot exceed £250 per application. Bank Account defaults/arrears subject to underwriter discretion except on BTL Prime, where bank account defaults/arrears will not be accepted, including unauthorised overdrafts and bounced DDM/cheque.