Lending criteria for benefits
Lending criteria
Benefits
We can accept 100% of the following benefits:
- Widows pension
- Retirement pension
- War widows pension
- War disablement pension
- Child Benefit
- Foster carers
- Special Guardianship
60% of the annual benefit amount for the following benefit types will be used in the affordability assessment, subject to there being another earned income on the application. The benefit amount we use cannot exceed 100% of the earned income on the application.
We can accept only 60% of the following benefits:
- Disability living allowance (DLA)
- Personal independence payment (PIP)
- NI Contributions based Employment Support Allowance (ESA)
- Carer’s allowance (CA)
- Industrial injuries disablement benefit (IIDB)
- Scottish Child Disability Payment (CDP)
- Universal Credit (UC): Excluding housing allowance, service charge allowance or any child element where the child/children are age 11 or older.
Evidence Required
- The award letter will be required to evidence this income along with bank statements.
- Bank statements will be required to evidence the last 3 benefit credits. Where Employment and support allowance is utilised, we will require a copy of the award letter and the latest bank statement evidencing the benefit credit.
- For Universal Credit, the latest award letter will be required to evidence this income, along with the latest 3 months bank statements evidencing the last 3 benefit credits.
Please choose from the following options
So we can direct you to the right part of our website, please select from the login options below:
Porting? Additional Lending? No need to log in, please click, Porting or Additional Lending to follow the correct application steps.
NEW BUSINESS - ACCORD MSO
To create an illustration, submit a DIP, upload documents or to track an application for new customers:
ONLINE PRODUCT TRANSFERS
Switch existing Accord clients to a new deal - create an illustration, then apply and accept a product transfer online: