Near Prime. Same priority.
Fee-free range with cashback options available on selected products
The same excellent service as Prime products
Generous adverse policy
Why choose a Digital Mortgages Near Prime product for your customer?
Generous adverse policy
No credit scoring
Straightforward lending policy
We don’t do tiered or risk-based products
Great incentives
Fast, efficient service
*Free valuations and fees assisted legals for remortgage products and free valuations for purchase products.
Who is eligible for our Near Prime products?
For a customer to be eligible for one of our Near Prime products, they must meet the following criteria:
| Type | History | Value | Notes |
|---|---|---|---|
CCJs | 0 in the last 12 months 4 in 13–36 months Unlimited over 36 months | Maximum of £1000 total combined value of unsatisfied CCJs per applicant No limit if satisfied | Assessed independently from defaults |
Defaults | 0 in the last 12 months 4 in 13–36 months Unlimited over 36 months | Maximum of £1000 total combined value of unsatisfied defaults per applicant Additional £250 of unsatisfied for mail order, communications and utilities No limit if satisfied | Assessed independently from CCJs |
You can find full details on who is suitable for these products in our Near Prime eligibility criteria.
FAQs
Near Prime products will offer a maximum of 85% LTV.
Our Near Prime lending criteria can be found on our lending criteria page.
If your customer does not meet the criteria for our Prime lending products, our online portal will suggest to you if they meet the criteria for our Near Prime lending. See our lending criteria for details on what we will accept in terms of recent financial difficulties.
Our Near Prime products are designed for customers who are unable to obtain a mainstream mortgage product due to having recent financial difficulties but are on a path to recovery. On the other hand, our Prime mortgages are aimed at those customers with a strong financial record, who would typically be eligible for regular mortgage products from lenders.
Customers are able to apply for additional borrowing when porting to a new property and require additional borrowing for the purchase. Standalone additional borrowing for any other reason, like debt consolidation or home improvements, is not permitted.
No, Near Prime customers are not currently eligible for Consent to Let.
You can get in touch with our BDM team to talk through your specific case. However, if any applicants applying for a mortgage are identified as Near Prime, a Near Prime mortgage will be offered.
A customer who is approaching the end of their Prime fixed rate product would have access to our Prime Product Transfer range, subject to them meeting current criteria. However, if any applicants applying for a mortgage are identified as Near Prime, a Near Prime mortgage will be the only option available.
You use the same easy to apply MSO system as you would normally use for Prime products. Upon filling in your DIP application, our system will identify whether your customer meets our Prime or Near Prime criteria, after which a decision will be displayed and suitable products will be offered. Please contact your RBDM or speak with our TBDM team before submitting a Near Prime case. Find out who your RBDM is here.