Debt Related: Debt being repaid fully or partially ignored

Our standard acceptability

Yes

Criteria definition:

Indicates if, when assessing affordability, we are able to potentially ignore debts that an applicant is intending to repay on or before completion of the new mortgage. 

Policy Notes:

If applicants indicate that a credit commitment is to be repaid on or prior to completion we will ignore it from an affordability perspective. It is our standard policy to condition any mortgage offer to stipulate that the commitment be settled if affordability requires it.

Criteria categories:

• Applicant
• Debt Related

Last updated:

29 August 2018