Legal and General new fixed-rate mortgage -question

Pammy

Legal and General and the Hanley building society are joining forces to offer a new non-credit scoring mortgage, which4u.co.uk reports.

A new two-year fixed rate mortgage at a rate of 3.35 per cent has been unveiled by the financial services company and the building society .

How does this work exactly if there is no credit scoring?

How do they manage the risk?

Cannon_Fodder

?

" However, Bien pointed out that borrowers should be exercise caution as the lender is likely to apply more stringent manual underwriting criteria to this product than it would to those being assessed with a credit score.
She said: "For example, it may take a harder line with regard to existing debt, loan multiples, and other properties in the background." "
http://www.yourmortgage.co.uk/showPage.html?page=3626712