UW criteria

Question 1

Can customers be retired

Answer 1

Yes – as long as at retirement age or receiving private pension

Question 2

AGE

Answer 2

21 - 70 (No older than 75 at the end of agreement)

Question 3

Unacceptable employment types

Answer 3

Unemployed, Housewife/Husband, Registered Disabled, Self Employed Carer, Student - Unless Full-Time/Self-Employed joint-hirer is on proposal

Question 4

Joint Hirers

Answer 4

Must be living at same address as main Applicant

Question 5

Driving licence

Answer 5

At least one of the customers on the proposal MUST have full UK Driving Licence.

Question 6

self/temp employment

Answer 6

Yes (min 12 months continuous to date

Question 7

Taxi Drivers

Answer 7

YES, however * VEHICLE CANNOT BE USED FOR HIRE AND REWARD*

Question 8

Driving instructors

Answer 8

YES, however vehicle cannot be used to teach lessons

Question 9

Income

Answer 9

Provided at proposal stage. If under £10k - Must be signed off by TL/Senior Underwriter

Question 10

Mortgage

Answer 10

Must not be in current arrears or defaulted,

Question 11

HP Arrears (higher purchase missed payment)

Answer 11

Require well paid HP since.

Question 12

CCJ for Customer/Spouse/Partner
(COUNTY COURT JUDGEMENT)

Answer 12

Unpaid CCJ’s cannot exceed £150 within 12 months or £1000 within 36 months
If CCJs are linked to partner or spouse and match the above – also a decline
Paid CCJ’s, CCJs for Parents/siblings/children – ok to proceed

Question 13

Current debt management

Answer 13

Single Account, improving balances

Question 14

IVA/ Trust Deed/Bankruptcy/ Sequestration/Debt Relief Order for Customer/Spouse/Partner

Answer 14

Unacceptable

Question 15

Defaults

Answer 15

Historical and reducing balances

Question 16

Payday/Short Term High Cost Loans

Answer 16

Recent use of/active payday/ STHC Loans is prohibited
Any open PDLs/STHC loans within 3 months – decline

Question 17

Loan value on cars

Answer 17

£1,500 to £60,000

Question 18

Loan value on Motorbikes

Answer 18

£2,500 Minimum on Motorbikes

Question 19

Minimum term of loan

Answer 19

12 Months

Question 20

MAX term of loan (with and without flex)

Answer 20

60 Months, 84 months with FLEX

Question 21

Max mileage for cars

Answer 21

Cars - 120k (100K miles or more then max LTV is 100% & 10% Deposit Required)

Question 22

MAX mileage for vans

Answer 22

100k for Vans

Question 23

MAX mileage for Motorbikes

Answer 23

80k for Motorcycles

Question 24

MAX mileage for flex deals

Answer 24

120k For FLEX Deals (100K miles or more then max LTV is 100% & 10% Deposit Required)

Question 25

MAX age for cars

Answer 25

Cars – 16 Years at the end of the agreement if the customer is eligible (identified by F Flag), if flag not present then 14 Years at the end of the agreement

Question 26

MAX age for vans

Answer 26

Vans – 8 Years at the end of the agreement

Question 27

MAX age for bikes

Answer 27

Motorcycles – 12 Years at the end of the agreement

Question 28

Min deposit

Answer 28

10% *(only for vehicles over 100k miles)

Question 29

Max LTV for agreements up to 60 months

Answer 29

120% for agreements up to and including 60months

Question 30

MAX LTV for USED flex vehicles

Answer 30

105% for FLEX Deals on used vehicles,

Question 31

MAX LTV for NEW flex vehicles

Answer 31

100% for new vehicles

Question 32

MAX LTV for previous customer with current or previous voluntary termination

Answer 32

85% for customers with a previous Voluntary Termination or currently in the process of Voluntary Terminating

Question 33

imported cars / Left hand drive / Diplomatic vehicles.

Answer 33

Decline

Question 33

Max Insurance Group

Answer 33

N/A

Question 34

Engine size

Answer 34

125cc Min for motorbikes

Question 35

can we provide finance to England, Scotland, Wales & Scottish Isles

Answer 35

YES

Question 36

can we provide finance to Channel Islands, Northern Ireland, Isle of Man, all other countries.

Answer 36

NO

Question 37

3 years UK residency

Answer 37

Requires at least 2 years of credit trace.