Credit History & Affordability
We look at any credit history you have with Asset Finance, and we check your credit record with a credit rating agency. Together these things show if you have met other financial commitments in the past.
However, we do understand that most people go through a difficult patch at some stage in their life such as sickness or a relationship breakup, and for many this can affect their credit rating. So when looking at any bad or adverse credit history, we pay particular attention to how a person dealt with it, how long ago it happened and to what extent it was a problem.
In some cases, particularly where there is recent or unexplained bad credit, we may require a guarantor to provide additional security.
Affordability & Stability
As a Responsible Lender, we consider your capacity to meet the loan repayments.
Depending on the repayment amount and your income sources, this may require us getting information about your income and expenses.
We also consider your job and living history to determine whether your capacity to meet the repayments is likely to change during the term of the loan.