We assess all applications on the applicant(s) ability and willingness to meet obligations. We will not grant credit facilities on the basis of security. The term of any facility must be in line with the purpose for which it is granted.
When analysing the applicant's creditworthiness, you must consider their:
- present ability to repay the loan
- future ability to repay the loan
- willingness to repay the loan
In order to ensure that the customer can afford to repay their mortgage in the event that interest rates increase we also undertake a stress test to show the effect of this of their mortgage repayment. Before you submit an application, you must use our affordability calculator to check if the applicant meets the following criteria.
- Net Disposable Income (including stress test)
- Debt Service Ratio
Bank of England Base Rate
Our mortgage rates are not linked to Bank of England Base Rate.
We generally do not accept applications where any of the applicants are currently bankrupt. Where an applicant is a discharged bankrupt please refer to ourselves for further information.
Breakdown of Loan
For the purposes of completing the mortgage application, this could be:
- House purchase, amount and source of deposit
- Remortgage, name of lender, balance outstanding, remaining term, type of repayment
- Moving Home, including details of existing mortgage and agreed sale price if applicable
- Debt consolidation, detail amount and breakdown of any additional funds required
- Any element of additional borrowing, including purpose
Change in Title
For existing Danske Bank mortgage customers wishing to make a Change in Title, please refer to us.
Changes to Mortgage Application
Once the mortgage application has been made, if there are any changes to this application please refer to ourselves for further information. We may need you to create a new mortgage application.
If the applicant's original mortgage product has been withdrawn or changed, a new product must be selected.
Will be taken into account during the credit scoring process and further information relating to the circumstances should be provided.
Available with Co-Ownership
Please detail all committed expenditure on the application form:
- Hire Purchase/Personal Loans
- Childcare/Education Fees
- Child Maintenance / Alimony payments
- Credit Card (s) / Store Cards / Mail Order / Overdrafts - a minimum payment of 3% of the current balance of each facility will be included in the calculation of affordability.
- Life Insurance
- Pension (if not deducted at source)
- Professional Subscriptions
Consumer Buy to Let
For Consumer Buy to Let applications, please refer to us.
All applications will be credit scored. We use information provided by Experian as part of our credit assessment.
Applicants can obtain their information by contacting Experian directly at:Experian Limited
Consumer Help Service
PO BOX 8000
Nottingham NG80 7WF
Telephone number: 0844 481 8000
All applications must be submitted with customer verification documents. You can find a list of the documents that we will accept to verify the ID and Address of a mortgage applicant in the Mortgage Intermediary Aide Memoire.
This document also advises you how to certify our documents.