We subscribe to the Lending Code which sets standards of good lending practice for banks, building societies and credit card providers. These standards apply to micro-enterprises (businesses with a turnover of no more than €2m a year and with fewer than 10 employees). A guide to the Lending Code can be found here. You can also download the full Lending Code at www.lendingstandardsboard.org.uk.
For businesses that are larger than micro-enterprises, we follow the Lending Principles, which are a further set of standards that you can expect from us.
Any property given as security which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.
All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.
You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.