THE INFORMATION ON THIS WEBPAGE IS FOR THE USE OF PROFESSIONAL INTERMEDIARIES ONLY

Criteria

23/08/2017

The Society will consider residential applications where there is historic Impaired Credit/CCJ/IVA/Bankruptcy/Debt Management Plan/Debt Relief Order where these were settled more than four years ago*. Applications will not be considered where repossession has previously occurred. In addition, the following criteria regarding an applicant’s credit history will be considered:worst

Existing Homeowners Excluding Self Build applications – no missed mortgage payments in the last 2 years Existing Homeowners Excluding Self Build applications – have missed a mortgage payment in the last 2 years First Time Buyers/Self Build
Unsatisfied CCJs Must not exceed £500 in total Not acceptable Not acceptable
Satisfied CCJs Total must not exceed £1,000 and they must have been satisfied for more than 3 years Total must not exceed £500 and they must have been satisfied for more than 3 years Total must not exceed £500 and they must have been satisfied for more than 3 years
Unsatisfied Defaults Must not exceed £500 in total Not acceptable Not acceptable
Satisfied Defaults Total must not exceed £1,000 and they must have been satisfied for more than 3 years Not acceptable except defaults with communications suppliers which have been satisfied may be disregarded at the discretion of the mandator Not acceptable except defaults with communications suppliers which have been satisfied may be disregarded at the discretion of the mandator
Missed payments on unsecured commitments, credit card, mail order, communications supplier or similar Max worst status of 1 on current active CAIS in the last 6 months and a max status 2 in the last 2 years Max worst status of 1 on current active CAIS in the last 6 months and a max status 2 in the last 2 years Max worst status of 1 on current active CAIS in the last 6 months and a max status 2 in the last 2 years
Mortgage Arrears None in last 2 years Must not have exceeded 1 month’s payment in the last 2 years None in the last 2 years

* Buy to let applications will not be considered if there is any form of impaired credit.