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A&L changed from income multiples to affordability
river_kwai
Posts: 141 Forumite
Instead of using traditional income multiples, A&L is using more advanced affordability calculations.
The system takes account of a greater number of variables such as individual monthly spending and is capable of generating a fully credit scored decision in principle (DIP) online within minutes.
The system takes account of a greater number of variables such as individual monthly spending and is capable of generating a fully credit scored decision in principle (DIP) online within minutes.
Mark Hughes' blue and white army
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Intelligent Finance do affordability too.
The affordability test can be useful for joint applications, where one applicant is self-employed. If the other applicant is employed and passes the affordability test, then IF simply ignore the second applicant's employment status. Helped me as I'd been self employed for less than one year and couldn't have provided any accounts.
HTHWarning ..... I'm a peri-menopausal axe-wielding maniac
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