Every customer’s circumstances are different. This illustrative example shows how looking beyond a credit score or a single event can help build a fuller picture of affordability today.
While every application is assessed on its own merits, it demonstrates the types of conversations that could be worth having with us.
A mother and son wanted to secure a home that would give them stability for the years ahead. However, a period spent caring for a sick family member had led to adverse credit, including several defaults and a payday loan.
The son was in stable employment, and the pair had maintained clean mortgage conduct for the previous two years. With a low loan-to-value and loan-to-income ratio, their circumstances today showed a much stronger picture.
At the point of application, there were six defaults on the credit file. By using our delayed completion approach, the case could be assessed on the basis that the number of defaults would reduce to four or fewer by completion.
This made it possible to support a £60,000 debt-consolidation remortgage at 43% LTV.
The outcome: A home secured by looking at the circumstances behind the adverse credit, alongside the applicants’ stable position and affordability today.
Illustrative example only.
Specialist lending is about understanding people, not just data.
Our experienced underwriters take a common-sense approach, looking at the full picture rather than relying solely on credit scoring. It’s an approach that helps us support customers whose circumstances may have changed, whose finances are more complex, or whose story deserves a closer look.
We’re here to help you find solutions for the cases others might overlook.
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