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