TSB is making changes to some of its criteria for automated credit decisions from Sunday 9 October, which will affect select customers with outstanding CCJs, defaults and a history of late payments.
Customers with an outstanding county court judgement greater than £100 in the last six years will be declined automatically by TSB from Sunday, according to a broker statement.
Other customers who meet any of the following criteria will also be automatically declined:
- Satisfied or unsatisfied default greater than £100 in the last 12 months
- Satisfied or unsatisfied default greater than £500 in the last three years
- Two or more satisfied or unsatisfied defaults in the last three years
- One month or more late with mortgage payment, greater than £100 in the last six months
- Two months or more later with payments on other individual debts identified in the credit search in the last six months.
Pipeline cases, including accepted decision in principles, will not be affected by the changes, as long as they are keyed before 8pm on Saturday 8 October.
