A default is defined as an account in a defaulted status.

Unsecured & secured accounts:

• Recorded defaults over £300 are not acceptable.
• Defaults up or equal to £300 can be considered subject to underwriter assessment and approval.
• Defaults satisfied more than 3 years ago can be considered.

Communication & utility accounts:

• Recorded defaults over £500 are not acceptable.
• Defaults up or equal to £500 can be considered subject to underwriter assessment and approval.
• Defaults satisfied more than 3 years ago can be considered.

The above default limits are combined, allowing for a maximum of £800 of defaults within the last 3 years.

Please note: we're currently updating our system to reflect this aspect of our policy. Contact the broker specialist team if you believe your DIP has incorrectly returned a refer or fail result.