CCJs, defaults, missed payments and Debt Management Plans (DMP).

CCJ

• No more than 1 CCJ with a total value of £300 or less, registered in the last 6 years.

Defaults

• No more than 2 defaults with a total value of £250 or less, 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.

 

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.