A recent study by Pepper Money reveals that 50% of potential homebuyers with adverse credit are inclined to consult a mortgage broker for guidance on securing a mortgage. This figure shows a slight decline from 58% in the previous year, indicating a need for brokers to enhance their outreach. The research highlights that recommendations from family and friends (47%) and online searches (46%) are the primary methods for finding a broker. The top reasons for seeking broker assistance include accessing exclusive lenders (67%) and finding the best market rates (64%). While face-to-face advice remains favored by 59% of customers, preferences vary, with 38% indicating their willingness to pay for broker services depending on the broker’s reputation. Despite the drop in interest, the study reflects growing consumer confidence, with 1.76 million individuals with adverse credit planning to purchase a property in the next year, suggesting ample opportunities for brokers to assist these clients.
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