Maximum Value of Defaults (Satisfied)
Our standard acceptability
500
Criteria definition:
Indicates if we can potentially consider residential applications from applicants with previously satisfied Defaults and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 previously satisfied Defaults in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
Policy Notes:
Family Building Society can consider applicants with satisfied Defaults up to a maximum value of £500 that relate to a utility or communications supplier.
Criteria categories:- Adverse
- CCJs and Defaults
Last updated:
25 March 2020