Residential policy
Arrears
- Within the last 6 months there must be no mortgage arrears and no more than 1 month’s arrears per item of credit on any other commitments
- Within the last 2 years no individual mortgage or other loan must have gone into arrears to a value of 3 months’ payments or more
- Arrears over 2 years ago are acceptable with no upper limit to status level, value, or number of accounts, subject to application score and assessment
Defaults
- Unsatisfied – there must be no defaults of any value that are currently unsatisfied
- Satisfied – within the last 6 years there must be no more than 2 satisfied defaults and the total value of all satisfied defaults must be no more than £5,000
Debt management plans
Customers must not have a current debt management plan in place.
CCJs, IVAs, Administration Orders, Debt Relief Orders or Bankruptcy
None of these are acceptable within the last 6 years, even where satisfied or discharged.
Repossession
Customers must never have had a property repossessed.