Half of adults with adverse credit find a broker online

Michael Lloyd

November 12, 2019

Almost half of adults with adverse credit find a broker online, research by Pepper Money has found.

Some 49% of adults who have experienced adverse credit in the past three years who are planning to purchase a house in the next 12 months with a mortgage or remortgage said they would go online to find a broker.

However, 44% of adults who have experienced adverse credit said they would select a broker based on existing relationships.

Just over a third (36%) said they would ask for recommendations from family and friends.

Paul Adams (pictured), sales director at Pepper Money, said: “Our programme of research has shown that there is considerable demand for mortgages from people who have experienced credit blips in the last three years, and many of those people have concerns about having an application declined.

“This presents opportunity for brokers to promote the services they offer to potential clients and, with half of customers in these circumstances saying that they would use online research to find a broker, it’s clear that brokers can benefit from working on their online presence.”

Danny Belton, head of lender relationships at Legal & General Mortgage Club, added: “It is no surprise that in today’s world, potential customers start their search online to find an adviser.

“However, the fact that these customers are seeking advice from an adviser is very encouraging.

“This demonstrates the need for advisers to make themselves more visible online, and to stay close enough to existing customers so that they can be recommended to friends and family that may need their help.”

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