Defaults registered between 12 to 24 Months
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have had any Defaults registered more than 12 months ago and less than 24 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Policy Notes:
The Society will not accept cases with arrears on a previous (or current) mortgage or other secured loan within the last two years, where the cumulative amount overdue at any point reached three or more monthly payments.
The Society will not accept cases with arrears on a previous (or current) unsecured loan within the last two years, where the cumulative amount overdue at any point reached three or more monthly payments.
Any existing mortgage/rent/loan must be up to date at the time of application. A maximum of one month’s arrears within the last 12 months will be allowed, provided the account is currently up to date. An explanation of any arrears will be required.
- Adverse
- CCJs and Defaults
Last updated:
25 March 2020