Knowledge Bank

A guide to underwriting

As identity theft is on the increase we will ask to see copies of items that prove your address or identity. Examples of documents that we accept include utility bills, bank statements, driving licences or passports. We pass this information onto our lenders to confirm that you are who you say you are, and protect your identity. Below is a list of bullet points that our lenders would like to see with our proposals.

For Business based finance applications:
  • Audited/certified accounts
  • Or Up to date management accounts
  • Or Business Bank Statements
  • Financial budgets and projections
  • Directors details (home address, date of birth, length of time at your address)
  • Bank credit facility letters
For Personal contract finance applications, the following information can be used to support your application:
  • Confirmation of your home address, date of birth and length of time at the address
  • Proof of your address, sometimes two separate pieces of evidence are required.
  • Copy of your driving licence
  • Bank statements

In addition to the above, it may also be worthwhile to sign up to the free trial offered by both Experian and Equifax, the credit reference agencies used by most finance companies. By utilising the trial, you can ensure your financial history is as you would expect and swiftly challenge any discrepancies.

There are other factors that can influence underwriting decisions, such as...
  • Exposure on current commitment*
  • Directors Personal Guarantee*
  • Cross company guarantee*
  • Buybacks*
  • Repayment term and profile (how many advanced rentals?)

(*) Denotes preferred required information for Business contracts ONLY

The more information you can provide to assist in proving who you are, and you have the ability to repay the credit you are applying for, the greater likelihood the finance decision will be a positive one.

BVRLA
ogilvie
Hitachi
Lex Autolease
Alphabet
ALD
AEVAL
Leasing Broker Federation

Join our Newsletter

Join our newsletter to receive our latest offers & news

Tilsun Leasing is a trading style of Tilsun Leasing Limited. Tilsun Leasing Limited is a credit broker not a lender.

Tilsun Leasing Limited is authorised and regulated by the Financial Conduct Authority. FRN: 670872.
All our calls are monitored for compliance and training purposes.

Registered address: Tilsun Leasing Limited, Verity Court, Pochin Way, Middlewich, Cheshire, CW10 0GW.
Company Registered in England and Wales No. 4393228 Data Protection No. Z7014603 VAT Reg No. 400 8929 64

Tilsun Leasing 2021. All Rights Reserved