Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.


What is an Underwriter?

In credit terms, Underwriters are the people who subjectively assess your application. They will examine the risk involved with lending to you, and whether they are willing to accept this level of risk before granting or declining your credit application.

In some circumstances Underwriters also have the power to ‘price for risk’ so you may be offered a higher interest rate than the typical APR if your application is deemed to be more risky than the average. Most lenders now assess risk using an automated credit scoring procedure, but several lenders still manually examine all new applications in order to make a lending decision.

An Underwriter will look at the prospective customer’s creditworthiness to see how well they have managed credit in the past, as well as the lender’s capacity to repay the loan (known as affordability).

When looking at the customer’s ability to repay the loan, income details, stability of income or employment and the current level of indebtedness will be considered. In the case of secured loans or mortgages, the value of the property or collateral will also be examined and a valuation of the property is generally required before a mortgage is granted.

Q: Can an Underwriter deny my loan?

A: Yes. If they deem that you are too risky a prospect to give credit to, they can deny your loan or mortgage provided they see sufficient reason on your application to do so.

Q: How do they assess my affordability?

A: Underwriters check your regular monthly outgoings compared to your income and assess whether they deem it likely you will be able to afford to make their repayments on top of your other commitments. Mortgage applications often ask for more detailed information than most loan or finance applications, with expenditures such as fuel and food costs often needing to be estimated as well.

Mortgage underwriters will often ‘stress test’ your income as well, meaning they want to make sure you’ll have enough money left after paying your mortgage to cope with any unforeseen circumstances that aren’t usually factored into monthly bills.

Q: What qualifications are needed?

A: Any financial or legal qualifications are considered an advantage for people looking to start a career as an underwriter, with a background in insurance preferred. The role itself heavily relies on analytics and data handling.

Jargon Buster

Use the links below and the resulting list of terms on the right to locate the term you are looking for. If you can't locate it, please get in touch.