Seventy-nine per cent of brokers are seeing more clients who are unaware that they have poor credit files.
According to broker forum Cherry, the main cause for this poor credit, cited by 42% of brokers, is missed payments on credit and store cards.Twenty-seven per cent of brokers said the poor credit was due to missed payments on utilities, while 23% said it was caused by mortgage payment holidays.
Donna Hopton, director at Cherry, commented: “The Cherry forum provides brokers with the opportunity to discuss the latest trends and developments in the market, and it’s very clear that clients with poor credit files is a hot topic right now.
"This makes sense given the economic upheaval people have experienced as a result of COVID-19, but it’s interesting and concerning that so many clients are unaware the impact of missing payments or taking a mortgage payment holiday can have on their credit record.”
Latest News
-
House prices drop in September as annual growth halved
-
More than 34m UK adults face retirement savings vulnerability
-
PM confirms triple lock will become ‘annual double lock’ after next general election
-
Half of aspiring homeowners would use pension savings for home deposit
-
Industry divided over Your First Home scheme
-
Albatross Lending Group joins the BDLA
AI, finfluencers and the future of broking
The mortgage industry is evolving faster than ever. In this MoneyAge video, we examine the opportunities and challenges redefining the broker landscape, from AI-powered lending and changing customer expectations to housing affordability, property supply and the rise of financial influencers. Our guest from Chorley Building Society shares practical insights on what brokers need to do to stay relevant and thrive in a rapidly changing market.
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories