Checking the applicant's credit status

Credit assessment

Financial statements

Balance on banks statements

Regular income

Regular payments out

Overdrafts

Fees and charges

Failed cheques/direct debits

Maintenance payments

Mortgage statements

Credit searches

Defaults

High rates

Unable to borrow

Pay day loans

Credit scoring

Short-term hIgh interest lending

Points system

Age

Occupation

Income

Existing commitments

Credit searches

Existing bank/loans accounts with lender

Role of a Guarantor

Mortgage guarantee

Full liability

Limited liability

100% liable

Difference between lenders loan and loan required

Invalid guarantee

Lack of capacity

Undue influence

Misrepresentation

Misapprehension

Mistake

Duress

Insolvency and debt problems

County/Sheriff court judgements

Bankruptcy

IVA

CVA

Debt relief order

Register of Judgements, Orders and Fines

Lump sum

Regular payments

Voluntary

'attachment of earnings'

Sole property owner

+1000 equity force sale

Joint property owner - One bankrupt

Possession order

Form J restriction

+1000 equity force sale

Register interest

No trustee interest

Delayed sale 1 year

Post 3 years revert to bankrupt

75% Creditors agreement

Frozen interest/charges

75% creditor agreement

Limted companies/ LLP

Directors must agree

Max 20k debts

max £1000 assets/ less £1000 car

£50 Disposable income

Debt repayment agreement over 12mths

Fraud

Incorrect income on app

False salary ref

Omission of outgoings on app

Withholding existing debts

Failure to disclose

Non existent property finance

Dishonest intermediaries/solicitors/accountants

Bogus accounts

Bogus valuations

Anti-money-laundering regulations

Principles

Arranging

Concealing

Acquiring

Customer due diligence

Verifying identity

Passport

Photo driving licence

Electroral roll

Utility/ Council tax bill

Financial exclusion

Unable to provice ID

Letter of ID