Application Criteria

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    Age

    All applicants must be aged 18 or over.

     

    Generally it is expected that retirement will take place at state retirement age (up to 70 for self-employed) unless there is evidence from employer of an older retirement age. Where the loan term extends beyond retirement the Bank will require appropriate and clear demonstration of affordability beyond anticipated retirement date.

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    Address history

    First Trust Bank for Intermediaries require three years' address history for all applicants.

     

    Where an applicant is not able to provide three years' UK address history, non-UK addresses should be provided.

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    Number of applicants

    First Trust Bank for Intermediaries will accept up to four applicants on a mortgage.


    Where a Parental/Guardian Guarantor is necessary, the maximum applicants will be guarantor + 3 others. Please see parental/guardian support section below for further details.

     

    If more than 2 applicants on the mortgage a second application will need to be completed.

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    Credit check

    A satisfactory/clean Credit Bureau Search including a fraud check is required for all applicants.

     

    Any one of the scenarios below will be permissible:

     

    a) No more than four overdue payment in the last 24 months with a communication supplier, utilities supplier, card facility, mail order or current account
    OR
    b) Maximum one default in the last 24 months with a communications supplier, utilities supplier, card facility, mail order account or current account
    OR
    c) No more than one overdue payment in the last 24 months on a hire purchase or unsecured loan

     

    Subject to:

     

    • only one scenario can apply, otherwise the case is a policy exception
    • the facility must be up to date with arrears cleared or fully settled without any debt write-off or compromise arrangement 
    • overdue payments outside of timeframes outlined, on facility types above, can be disregarded but must still be considered in the overall context of the borrower’s credit history and the mortgage application
    • cases where there is evidence provided that an overdue payment was caused by an error of the Bank or other third party can be disregarded

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    Credit history

    Bankruptcy


    First Trust Bank for Intermediaries do not accept applications from individuals who are, or have been subject to a bankruptcy order.

     

    Individual Voluntary Arrangements (IVA)


    First Trust Bank for Intermediaries do not accept applications from individuals who are, or have been subject to an Individual Voluntary Arrangement.

     

    County Court Judgments (CCJ)


    First Trust Bank for Intermediaries do not accept applications from individuals who are, or have been subject to a County Court Judgement.

     

    Previous Secured Lending Defaults / Property Repossessions


    First Trust Bank for Intermediaries do not accept applications from individuals who are, or have been subject to a secured lending default or property repossession.

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    Proof of identification

    Acceptable
    Current signed passport:

     

    Must be in date and signed. Copies of residency permits/UK visas should be copied and retained. Photocopies should be in black and white (per HM Stationery Office).
    Current UK/EEA Full or Provisional Driving Licence or a blue disabled driver’s pass:
    Pink N.I. Photocard licence acceptable on it’s own. Both Photocard and paper counterpart to be present for old style white laminate card Northern Ireland Licences only.
    EEA Member State Identity Card Electoral Identity Card:  If this is used for ID, the Electoral Roll CANNOT be used to verify address.
    Current Shotgun or Firearms Certificate Issued by a UK Police Force  
    HMRC tax notifications: i.e. Tax assessment, statement of account, notice of coding. Must show applicants stated residential address. P45s & P60s are not official Inland Revenue documents and are therefore not acceptable.
    Self-employed in the Construction Industry - photographic registration cards:   C1S4, C1S4(P), C1S4(T), C1S5 & C1S6
    Government Employee ID card: Police, Armed Forces, Customs & Excise, Civil Servant (with photograph)  

     

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    Proof of address

    Acceptable
    Current UK Photocard Full or Provisional Driving Licence: Provided not used as evidence of identity. Pink N.I. Photocard licence acceptable on it’s own. Both Photocard and paper counterpart to be present for old style white laminate card Northern Ireland Licences only.
    Voters Roll Search: Provided Electoral Identity card is not used as evidence of identity.
    Recent utility bill or utility statement or certificate from supplier of utilities confirming the arrangement to pay for the services on pre payment terms:
    Statement date must be less than 3 months old, Mobile phone bill is NOT acceptable. Must show current address. Internet printouts are not acceptable.
    Rates Collection Agency bill: Must be valid for the current year.
    HMRC Correspondence addressed to the applicant at the applicant’s stated address: Provided Inland Revenue notifications were not used as evidence of identity. Hand-written forms are not acceptable.
    Original bank/building society/mortgage/credit card statement: This cannot be a First Trust Bank statement. AIB ROI statements are acceptable. Store card statements are not acceptable. Only Credit Card statements issued by a regulated financial institution may be acceptable. Statement date must be less than 3 months old. Internet printouts are not acceptable.
    Benefit Book or original notification letter from the relevant benefits agency confirming the right to benefits/state pension: Provided that one or other has not been used as evidence of personal identity.
    Rent Book or Tenancy Agreement issued by reputable Landlord: Address must be shown on the document.
    Current Motor Insurance Certificate/Schedule: Address must be shown on the document.
    Current Home Insurance Certificate/Schedule: Address must be shown on the document.
    Original Vehicle Registration Document:   Address must be shown on the document.

     

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    Parental/guardian support guarantee

    Where there is a reliance on a third party for affordability our preference will be for the third party to be added as an additional applicant on the loan. We may accept applications with guarantors where necessary on a case by case basis subject to maximum applicant amounts. Where a Letter of Guarantee is taken, the Guarantor's repayment capacity is confirmed in the same way as any borrower.

     

    The following additional criteria will apply:

     

    • Customers in early/mid 20’s in full time employment whose income is insufficient to meet criteria for the full amount of a mortgage but who can be supported by a parent/guardian.
    • The facility will be by way of a Mortgage in the name of the son/daughter supported by a Guarantee for the full Mortgage amount from the parent(s)/guardian(s), subject to assessment of repayment capacity.

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