Recent research from Pepper Money reveals a notable trend in the UK mortgage industry regarding buyers with credit issues. The study indicates that 50% of these potential buyers are willing to seek assistance from mortgage advisors, a decline from the previous 58%. The reasons behind this willingness include the desire for access to products from specialist lenders (67%) and securing the lowest possible loan rates (64%). The survey also highlights the importance of personal recommendations, with 47% of respondents choosing their advisors based on referrals and 46% searching online. Interestingly, many prefer face-to-face interactions with advisors, reflecting a desire for personalized guidance. Rob Barnard from Pepper Money emphasizes the growing number of individuals with adverse credit, suggesting that brokers have significant opportunities to assist these customers. Furthermore, those who consult with trained mortgage advisors often achieve better outcomes, underscoring the need for advisors to promote their expertise effectively.
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