Underwriting - Additional Information

Scenario

Foreign National














 

Customer under the age of 21

Customer non-working/student/homemaker

Company trading under 3 years

Partnership

Provisional driving licence

Settlement

Customer spent time outside of the UK

Customer has other sources of income

Driving licence in a different address to current address

If you have access to soft searches before submitting
 

Customer is not on the voters roll and does not have at least 2 significant sources of data at the current address

Customer is on voters roll for less than 3 years at current

Ask Customer to check address history

Info required upfront

• Driving Licence – Non EU / EEA licences are generally only valid for a maximum of 12 months upon last entering the UK. If the licence has expired and an EU licence not obtained, we cannot finance the applicant.
• Proof of current address – Utility bill or bank statement dated within the last 3 months.
• Passport
• Work Permit / Visa - Permit must be valid for the full length of the finance agreement.
• Proof of employment in the form of a copy of their contract of employment (This must include details of the customers remuneration).
• Written consent from the customer for us to contact their employer (email or letter)
• Please note if the customer is a Self-Employed Foreign National we would deem this too high risk to consider. 

Add a Parental Guarantor

Add Guarantor

Add director as guarantor

Add at least 2 partners details.  Please see below for further information

Guarantor added to the proposal who has a full UK driving licence and must be credit worthy (Will require proof of practical test booked and copy of provisional driving licence at payout)

Advise in notes section whether a current HP/loan is to be replaced or if it’s in addition

Advise in notes the customer has been out of the UK with correct timings

Add notes to confirm other sources of income

Add as previous address or if there is already a previous address entered, please add it into the notes

Proof of address (e.g. utility bill, credit card/ bank statement) dated within the last 3 months and ID required

Ask for previous address and enter into address history

Ask customer to check address history

Proof of mobile phone number





Guarantor



Tax Return (P60 or SA302)









Proof of Employment


Photo ID and proof of current address (POCA)

This is to ensure the customers mobile number proposed is correct. Often a mobile number entered incorrectly will link to another customer/third party and we have an obligation to ensure the details proposed are accurate. Please provide the customers latest mobile phone bill clearly showing number, name and address.

Please add a spousal or parental guarantor on the first submission for non working (excluding retired) part time employed, and those under 21 to ensure a quick decision. 

Please ensure the Guarantor lives at the same address as the applicant. In circumstances where this isn't possible, please add notes in FAMOS explaining this.

A tax return (Form SA302) will be requested for a Self-Employed individual. This is instead of bank statements as we are often unable to verify self-employed customers income on bank statements.

Please do not send Tax Calculations, please only send the most recent tax return that has been filed. 

Can be supplied in the form of the customers contract of employment; alternatively we would accept the last 3 months payslips with corresponding bank statements.

We often require Proof of ID and address when the customer has recently moved,to verify their new address. Alternatively this could be to confirm the customers identity as they have previously been a victim of identity theft. Please note all proofs must be dated in the last 90 days (3 months).

Please provide either:

• UK Driving Licence
• Passport 
• Shotgun Certificate
  AND / OR
• Council Tax Bill
• Utility Bill (Electric, Water, Gas, Landline Telephone, Broadband)
• HMRC Tax Return
• Solicitors Completion Letter
• Postal Bank Statement
• Bank Statement / Letter issued in branch, on headed paper, with branch stamp. We no longer require a bank employee signature.

Please note that the bank account must be held in the customers own name (joint account is acceptable) but does not need to be the account we have in the proposal.