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#Barclays auto loan calc full

currently own or part own a UK residential owner occupied property.Applications for customers that meet the following criteria will initially be assessed on an Interest Coverage Ratio (ICR) However, where historic, underwriters can consider such mortgage requests, provided clear rationale is provided to support any lending decision.īarclays uses 1 of 2 methods to calculate affordability. Lines are open Monday to Friday, 9am-5pm.Īny applicant who is known to have had any mortgaged property repossessed should normally be declined. If this is the case, please contact the Intermediary Business Centre on 03 * to discuss whether we will be able to assist. However, this decision could be changed if there is an acceptable 'technical' reason, or if evidence of a settled dispute is provided and verified by the lender. If arrears of more than one month have occurred in the past 6 months or 3 months' arrears have occurred in the past 2 years, the case is outside lending policy and is to be declined.

If payment arrangements are identified in the credit search that are still running or have ended less than 1 year prior to the time of application, the case must be declined.

Arrears of 2 or more months on any one account in the past 6 months.

It is not acceptable to lend if we are aware that any applicant is currently bankrupt or subject to a DRO or IVA.Īny adverse credit identified, as detailed below, must be declined Lending to a customer with a history of bankruptcy or who has been the subject of a Debt Relief Order (DRO) or an Individual Voluntary Arrangement (IVA) can be considered, provided any bankruptcy, DRO or IVA was registered more than 6 years prior to the date of submission of any mortgage application and no longer shows on the credit reference bureau information.

#Barclays auto loan calc full

*Includes partially settled defaults which will be referred out to check whether full and final settlement has been made.Īpplications can be considered where the above is identified but only where documentary evidence of a settled dispute has been provided by the customer. If it is identified that a Limited Company in which an applicant has greater than 15% shareholding has any outstanding judgements totalling more than £5000.Any outstanding default, irrespective of amount.Satisfied defaults* totalling more than £200 and the latest is registered within the past 3 years.More than 3 satisfied defaults* and the latest is registered within the past 3 years.Satisfied CCJs totalling more than £200 and the latest is registered within the past 3 years.More than one satisfied CCJ and the latest is registered within the past 3 years.Adverse credit as detailed below must be declined: