Glossary - Non Status

Non Status is a term used in credit scoring.
A consumer is considered to have no credit score rating if they cannot provide any proof of income or have not borrowed in the past. You can find finance products that are offered to borrowers who are non status. The lenders who provide this sort of finance will not refuse a consumer because of employment or income status, they specialise in non status and poor credit finance.

These non status finance products are suited to:

• Self employed people who self cert their own finances
• Contract workers who haven’t got a regular income
• Seasonal workers who have an income at particular periods
• Unsalaried workers who be bonus or commission driven
• Consumers who are building a credit history

Non Status Finance Products
If a consumer is are self employed but they cannot give the necessary accounts or maybe they are without a fixed income, they will have to declare their income with out proof.
If declaring their income without an examination of accounts then you should find other proof of income and credit history. A Lender will want you to certify that your income does meet their terms and conditions, and you have the ability to pay off the finance.

Useful Tip
If you are a home owner you could use current mortgage statements to provide information about how reliable you are at repaying. If you are a tenant then you may be able to ask your landlord to provide you with a reference to certify that rental payments have always been on time.

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