A vulnerable applicant can be described as “someone who due to their personal circumstances may need additional help and support to understand or manage their finances.”
Should you have any reason to believe that an applicant is vulnerable for any reason, perhaps they have declared they have a mental health issue, are recently bereaved or they appear to have difficulty in understanding the loan application process, then you should take additional care to ensure that they understand the transaction and make us aware if you have any concerns about them and their loan application. You are required to declare this via our data capture field on My Broker Venue.