Affordability & Creditworthiness Policy Template Overview
The Affordability & Creditworthiness Policy Template aids compliance with the FCA’s consumer credit lending requirements. This template is essential for those providing regulated credit agreements, loans and/or repayment plans. FCA handbook module CONC 5 states that a firm must establish, implement and maintain clear and effective policies and procedures in relation to creditworthiness assessments. The policy must be established in writing and be reviewed on a regular basis.
The template also includes an easy to use Excel based Affordability Assessment template. It is an FCA requirement that firms take steps to understanding a customers’ income and expenditure. This template enables you to calculate a disposable income and to demonstrate your commitment to treating customers fairly.
WHAT’S INCLUDED
- Template Customisation Guidance
- 14-Page Affordability & Creditworthiness Template
- Affordability Assessment Template (Excel)
- Policy Statement
- Purpose & Scope
- Affordability & Creditworthiness
- Objectives
- Procedures
- Assessment Criteria
- Affordability Assessments
- Creditworthiness Assessment
- Credit Checks
- Income and Expenditure
- Business Lending
- Guarantors
- Ongoing Monitoring
- Credit Agreement Record
- P2P Agreements
- Mortgage & Home Finance Objectives
- Responsibilities
- Reference Policies
- Affordability assessment calculator
- Fully customisable policy template
- Instant download after payment
- Comply with the FCA’s CONC 5 rules
- Demonstrate commitment to TCF
- Easy to use & integrate
- Developed by experts
- Frequently reviewed & updated
Key Details
Comply with CONC 5 – Quickly assess affordability and verify creditworthiness with our templates.
FCA Compliant – An essential policy template for any firm with CONC 5 obligations.
Assess Affordability – Includes a simple affordability assessment calculator in an easy to use Excel format.
Evidence Compliance – Use the finalised templates to demonstrate your compliance.