Latest Bank Policies

We are seeing Banks still keep a tight policy on lending. Loans that would have been aproved 12 - 18 months ago are being assessed more stringently.

Some banks have introduced point scoring into their computer software. If a loan cannot score through the system it is automatically declined without any human assessment.

Point scoring takes things into account such as:-

1) land line telephone numbers (if you don't have a land line connected it can count against you).

2) not having a credit card

3) you have not lived at your current address for 2 - 3 years

4) your job status is unstable

5) whether you are a skilled or unskilled worker

6) your asset position is not strong enough for your age group

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