Bankruptcy and sequestration

• We do not accept undischarged bankruptcies.
• The bankruptcy/sequestration must have been discharged.
• Discharged for a minimum of 6 years.
• The credit search must confirm that the order is discharged or;
  • A copy of the discharge certificate is required.

CCJs, defaults and missed payments

CCJ

• All CCJs must be satisfied
• 0 registered in the last 6 years

Defaults

• 0 registered in the last 6 years

Missed payments: (Secured, unsecured and mortgages)

• Secured loans: No more than 1 missed payment on 1 single account in the last 24 months.
• Unsecured credit: No more than 2 missed payments on 1 single account in the last 24 months. In addition to this, the latest recorded payment must have been made. Including:
  • Communications
  • Utility
  • Fixed Term
  • Mail Order.

Individual voluntary arrangements (IVA), debt management plans (DMP) and trust deeds

IVA
IVA will be considered if:

• Satisfied, with no other adverse record present on the account.
• Satisfied for a minimum of 6 years.
• The applicant(s) must provide a copy of the IVA or trust deed document or statement or letter produced by an insolvency practitioner (IP) to confirm the agreed monthly payment arrangement, satisfactory conduct and final payment date where appropriate.
• We cannot accept IVA with unsatisfactory conduct.
• Evidence is needed to confirm this has been satisfied.

DMP
DMP will be considered if:

• None registered within the last 6 years.
• Satisfied or end date evidenced.
• The applicant(s) must provide a copy of the DMP document or statement or letter to confirm the agreed monthly payment arrangement, satisfactory conduct and final payment date where appropriate.
• We cannot accept DMPs with unsatisfactory conduct.
• Evidence is required to confirm this has been satisfied.

   

Repossessions

All repossessions should be declared and normally there should be no history of a repossession, either voluntary or enforced.

We do not accept applications where the repossession date is within the last 6 years.
 

Payday loans

Payday loans can be accepted as long as they have been settled at least 12 months ago. A defaulted pay day loan in the last 36 months is unacceptable.