Skipton BS Lending criteria

themonkey88

Hi there,

Looking at Skipton's lending criteria they say the following about about credit scoring:

The Society uses Call Credit for its credit checks.
All applications must have a credit score of Pass or Refer.
Non Secured Loans

• Max 2 months arrears within last 2 years.

When they say max 2 months arrears it that likely to mean

a) No more than two missed payments across all accounts
b) No more than two missed payments per account
c) No more than two consecutive missed payments per account

I've got a number of missed payments over the two year period and just trying to decide if I should bother attempting a DIP.

Many thanks!

ACG

C.

What LTV is it?
How many missed/late payments?

Even if it meets criteria, it may not pass credit scoring.

themonkey88

8 late payments over 2 years over all accounts. 2 of which are consecutive on 1 account but no other consecutive, and both show as 1s.

LTV ideally 80% although there is scope for 75%.

I had a DIP with Leeds after selling my current house and then had an offer accepted on a new place with the DIP. Leeds later went on to decline.


I have a satisfied default from Oct 2012 which does not show on my callcredit report which is why I am looking at skipton.

I did also talk to a broker from L&C who wasn’t very useful, but since then I have


got DIP from precise but the rate is high, as well as massive broker fees! I have had a conversation with Mansfield BS and they think they can lend on their subprime range, which is a better rate than precise.

I just want to bottom out all my chances of getting a mainstream deal.

I lost my partner last year who had a chronic illness, and massively varying pay depending on sickness so I was often supported them, which massively contributed to the late payments etc. Since I have been on my own I have been fine moneywise. I really need to get out of the house though and get a fresh start.

ACG

It will come down to credit score and making multiple applications wont help your score.

That being said at 75-80% LTV i would imagine there will be some give and take with their scoring.