income_assessment

Parameter to determine whether a single or joint income was used when assessing the loan.

single

The FCA defines single and joint income loans as follows:

Single income basis. This means only one person’s income was taken into account when making the lending assessment/decision. Joint income basis. This means that two or more persons’ incomes were used in the lending assessment/decision.

joint

(see above)

single_not_evidenced

Single income loans which MLAR notes E1/2 MLAR notes E1/2 defines as where “the lender has no independent documentary evidence to verify income (e.g. as provided by an employer’s reference, a bank statement, a salary slip, a P60, or audited/certified accounts.”

joint_not_evidenced

Joint income loans which MLAR notes E1/2 MLAR notes E1/2 defines as where “the lender has no independent documentary evidence to verify income (e.g. as provided by an employer’s reference, a bank statement, a salary slip, a P60, or audited/certified accounts.”

More on income assessment can be found in the FCA Handbook section on Responsible Lending