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Adverse Credit

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Application β†’ All guides

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A - Z of Application criteria
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Deposit sources
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Direct Debits
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Early repayment charges
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Interest
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Tenure
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Loan to income multiples
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Loan purpose
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Loan size
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Location
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Maximum LTV
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Mortgage Term
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Offer validity
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Overpayments
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Payment holidays
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Porting
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Rate switches
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Remortgage & Additional Borrowing
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Repayment methods
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Adverse Credit
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Age
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Applicants
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Asylum Seekers
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Boosters
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Commitments & Expenditure
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Customer Verification
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Dependants
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Expat
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First-Time Buyer
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Home Movers
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Non UK Nationals
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Overseas applicants
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Owners
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Retirement
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Students
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Vulnerable Customers

Income and employment β†’ All guides

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A - Z of Income types
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Benefit income
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Contract workers
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Employed
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Foreign currency income
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Holiday Lets
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Minimum incomes
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Other income types
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Parental Leave
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Pay increases
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Pension
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Piecework
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Rental income
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Retirement income
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Self Employed
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Stipend Income
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A - Z of Property types
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A - Z of Purchasing schemes
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Bedroom count
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Construction types
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Current value
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Discounted purchase price
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Flood Risk
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Help to Buy
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Leasehold
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New builds
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New Build; Incentives & Part Exchange
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Property Charges
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Property values
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Retentions
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Tenure types
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Valuations

Packaging guide β†’ All guides

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Employed income
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Parental Leave
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Rental income
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Self-employed income
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Sole traders income
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Address verification
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Additional support
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Identification
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Miscellaneous
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Occupier’s consent
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Proof of deposit
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Retirement plans and pension

Generation Home Products and Services β†’ All guides

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Registering on our panel
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Income boosters
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The Home Agreement
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ILA
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Toolkit for your clients
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Toolkit for you
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Tariff of Mortgage charges
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Terms of Business
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Privacy notice

Adverse Credit

All borrowers (Home Owners and Income Boosters) are credit checked. A fully submitted mortgage application will leave a hard credit footprint.

A credit report provides 6 years worth of credit history.

For further guidance on credit please refer to our Credit FAQ page.

## CCJ’s

  • Recorded CCJ’s within the last 3 years >Β£100 are not acceptable
  • CCJ’s satisfied within the last 3 years <=Β£100 can be considered with mitigating factors by a senior underwriter
  • CCJ’s satisfied more than 3 years >Β£100 can be considered

## Defaults

  • Recorded defaults within the last 3 years >Β£100 are not acceptable
  • Defaults within the last 3 years <=Β£100 can be considered with mitigating factors by a senior underwriter
  • Defaults more than 3 years >Β£100 can be considered

## Payday Loans

  • No active Payday loans within 6 months.

## **Payment Holidays**

  • Secured Debt – Mortgages must be back to repaying full installments
  • Unsecured Debt – case will be declined if there is a payment holiday within the last 6 months.

## Missed Payments

### Within the last 3 months

  • Mortgage payments: No mortgages to have missed a payment
  • Unsecured lending: No financial agreement to be more than 1 month in arrears

### Within the last 3 years

  • Mortgage payments: No mortgage to be more than 1 month in arrears
  • Unsecured lending: No financial agreement to be more than 1 month in arrears (Arrears <=Β£100 are allowable if <=3 months in duration. **Revolving credit Arrears = Balance / Fixed repayment (Loan or HP) Arrears = Monthly repayments)

## Unaccepted Adverse

  • We will not consider any applicants who have been registered as bankrupt within the last 6 years.
  • We will not consider any applicants who have had, or plan to have an Individual Voluntary Arrangement (IVA) or a Debt Management Plan (DMP) within the last 6 years.