Knowledge Bank
A guide to underwriting
As identity theft is on the increase we will ask to see copies of items that prove your address or identity. Examples of documents that we accept include utility bills, bank statements, driving licences or passports. We pass this information onto our lenders to confirm that you are who you say you are, and protect your identity. Below is a list of bullet points that our lenders would like to see with our proposals.
For Business based finance applications:
For Personal contract finance applications, the following information can be used to support your application:
In addition to the above, it may also be worthwhile to sign up to the free trial offered by both Experian and Equifax, the credit reference agencies used by most finance companies. By utilising the trial, you can ensure your financial history is as you would expect and swiftly challenge any discrepancies.
There are other factors that can influence underwriting decisions, such as...
(*) Denotes preferred required information for Business contracts ONLY
The more information you can provide to assist in proving who you are, and you have the ability to repay the credit you are applying for, the greater likelihood the finance decision will be a positive one.
Green Cars’ is the term used for zero, low and ultra-low emission vehicles (ULEVs) - with pressure being applied to lower global emission levels, the need for “eco-friendly” vehicles is on the rise. Many countries now have plans in place to abolish the use of combustion engines before the turn of the century and so more and more vehicles we see on the roads will be Electric, hybrid or very low emission petrol and diesels.
Although beneficial to the environment, ‘Green Cars’ are also beneficial from a taxation view. The lower a vehicle’s emissions banding, the lower the taxation placed against it. Many manufacturers have tapped in to this ever-growing market with their own offerings, however, Volvo were the first manufacturer to state that every one of their models will be either electric or hybrid options from 2019.