Resi 12
A solution for clients with a small credit blip more than 12 months ago.
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Resi 12 is designed to give your clients with a small credit blip over 12 months ago the options they might need to get a mortgage loan.
Suitable for...
Applicants with a small credit blip more than 12 months ago
First time buyers and Homemovers
Available for purchase and remortgage applications
Lending criteria
DMP active in last 12 months considered
Default, unsecured payment arrears and CCJs considered
No minimum income requirement
Minimum loan amount £25k
Further lending criteria
Arrears
- Secured loan arrears acceptable if older than 12 months, and no more than 1 in the last 24 months
CCJs
- Acceptable if older than 12 months
- Maximum of 1 registered in the last 24 months
- Total amount must be no greater than £1,000
Defaults
- Acceptable if older than 12 months
- Maximum of 1 registered in the last 24 months
- Total amount must be no greater than £1,500
Unsecured credit arrears
- Unsecured credit arrears acceptable if accounts are now up to date (max status of 2 in last 12 months)