Buy-to-let policy
All credit commitments should be included within the application.
Overdraft balances, and any buy now pay later which is reported as a ‘Deferred Payment Credit’ on the credit report and requires repayment in no more than six instalments, don’t impact our affordability assessment. Please don’t include these types of commitment when running an affordability calculation or AIP, but please include their details in the liabilities section of the application.
For other debt outstanding including those planned to be consolidated we include the monthly payments in our affordability assessment as if they were not being paid off.