Payday Loan

Lenders must conduct proportionate affordability checks that are reasonably tailored to the credit decision and circumstances presented, not just automated assessments based on credit files.

Lenders must assess whether borrowers can sustainably repay loans, not just whether they have sufficient income to cover repayments, and must consider all available information including signs of financial difficulty.

A lender must conduct proportionate affordability checks that assess sustainable repayment capability, not merely whether a borrower has sufficient income to make repayments.

A lender acts fairly and reasonably in responsible lending if it conducts proportionate affordability checks based on the applicant's supplied information and credit search results showing no signs of financial difficulty.

Lenders must carry out proportionate checks to ensure borrowers can repay loans sustainably without further borrowing.

A lender must carry out reasonable and proportionate affordability checks before providing credit, with the extent of checks depending on the amount, type, cost of credit and the borrower's financial circumstances.

A payday lender must carry out proportionate affordability checks to establish that a borrower can sustainably repay the loan, not merely that they have sufficient funds to do so.

A lender must conduct proportionate affordability checks appropriate to the circumstances, which for a first loan of modest amount may reasonably rely on the borrower's declared income and expenditure plus credit search results.

A lender must assess affordability of short-term loans proportionately to circumstances, considering income, repayment amounts, and lending patterns, but a break in borrowing of 10+ months can reset the lending relationship.

A lender must carry out proportionate affordability checks before lending, with the level of scrutiny increasing based on factors such as borrower income, loan amount, and credit history.

Lenders must assess affordability proportionate to the circumstances, considering income, expenditure, repayment size, and lending patterns to ensure sustainable repayment.

Lenders must assess affordability proportionately to circumstances, considering income, expenditure, and lending patterns, but early-stage lending with breaks in borrowing relationship permits less thorough checks.