We use credit scoring, alongside strict credit criteria, to assess and determine the eligibility of applications.
We use credit scoring, alongside strict credit criteria, to assess and determine the eligibility of applications.
CCJs
We cannot accept:
- Unsatisfied CCJs
- Applications where there is 1 or more satisfied CCJs registered in the last 3 years, and either:
- 2 or more satisfied CCJs in total in the last 6 years
- A total value of CCJs over the last 6 years more than £200
For example:
- We can consider an application where there is one satisfied CCJ seven months ago, the value is less than or equal to £200, and this is the only CCJ – providing there is an adequate explanation for the CCJ
- We can consider an application where there are 2 satisfied CCJs, regardless of value, as long as neither of the CCJs were registered within the last 3 years, and both CCJs are satisfied
Bankruptcy/IVA/DRO
We cannot accept bankruptcy, IVA or DRO registered in the last 6 years, irrespective of status.Repossession
No previous repossessions acceptable.Defaults
We can't accept:
- Unsatisfied Defaults
- Applications where there is 1 or more satisfied Defaults in the last 3 years, and either:
- 4 or more satisfied Defaults in the last 6 years, or
- Total value of Defaults over the last 6 years >£200
Example:
- We can consider an application where there is one satisfied default seven months ago, the value is less than or equal to £200, and this is the only Default – providing there is an adequate explanation for the Default
- We can consider an application where there are 3 satisfied Defaults, regardless of value, as long as neither of the Defaults were registered within the last 3 years, and both Defaults are satisfied
* We ignore communications defaults with opening account balances <£500
Arrears (secured and unsecured)
- No more than 1 in last 6 months aggregated across all accounts
- No more than 2 in 24 months aggregated across all accounts
* We ignore communications arrears with opening account balances <£500