How does underwriting work?

During the assessment process your lender will use the information in the application we have submitted along with the documents they have asked for. You will have supplied us with payslips and bank statements, or if you are self-employed accounts dating back 2-3 years.

Lenders will also refer to the information that credit reference agencies hold on you, essentially your digital profile. This shows your payment history along with where you have lived and who you are linked to. If they find something that’s not been disclosed, it can cause delays, so always tell us everything right at the start.

The results of the valuation survey will also be taken into account, as well as any information about your lease. Essentially the lender is trying to make sure that you can afford the level of debt you will be taking on, that the monthly repayments are well within your means and that should interest rates rise and increase your payments, you will still be able to cover them in the future.