Insurance
Credit Check - Refusal of Credit
Issue: Service personnel can be refused credit. Often this occurs because the loan applicant does not appear on electoral rolls, sometimes compounded by being a non-house owner.
Progress:
- Meetings held with BBA, CML & FLA. The decision to offer credit is a commercial decision. Different criteria used by different firms. Some firms give more weight to changes of address than others. The allocation of instant or unsecured credit creates the greater problem, rather than the seeking of a mortgage where there are normally other ways to show credit worthiness. Instant credit initially carried out through a computer check which would turn down a BFPO address, this can sometimes be overcome by asking for a manual check.
- Completed. No further action appropriate at this time single Services need to monitor for any specific problems.
Taken from the SFTF Report August 2002
Additional Information: Credit Information
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