Finance  Eligibility Criteria   download as PDF

Eligibility Criteria To be eligible for consideration for a Consumer Finance Product,

an applicant must be:

(a) Over 18 and under 80 years of age, although other Applicants may still be able to proceed where a suitable supportive applicant is available (see below);

(b) A United Kingdom national, citizen and a permanent resident with a minimum qualifying residency period of twelve [12] months. (Evidence of rights to remain may also be required);

(c) An overseas national with a working visa and sufficient ‘rights to remain’ to cover the loan term;

(d) Earning a minimum of £10,000 per annum from employment, self-employment, contract work or with other confirmed income(s);

(e) A full-time student, apprentice or other vocational trainee with confirmed income of at least £10,000 per annum (student loan will not be considered income);

(f) An unemployed individual with confirmed (and evidenced) long term medical welfare benefits;

(g) A homeowner or a contracted tenant (including living with parents);

(h) A supportive applicant (see below);

(i) Able to evidence a minimum of 3 years’ continuous address history.

Supportive applicant:

A “supportive applicant” is defined as a potential borrower who is willing to enter into a Credit Agreement in order that a Patient who may not meet the above Lending Criteria, may receive treatment. Allowable supportive applicants are:

(a) An immediate family member, including:

  •  A parent or grandparent on behalf of a child;
  •   An adult on behalf of a parent or grandparent;
  •   An adult sibling.

(b) A spouse, including:

  • A married spouse (husband or wife);
  •  A civil or co-habiting partner.

(c) A non-blood relationship:

  • A legal guardian on behalf of their Wards of Court.

Supportive applicants must enter into a Credit Agreement in their own name as primary obligor, not as guarantor or surety and will be assessed as would any other borrower