Round half of individuals (49 per cent) who’ve missed one credit score fee say have then gone on to overlook additional credit score funds
Pepper Cash has launched its 2023 Specialist Lending Examine, which discovered that 15.16 million individuals have some historical past of antagonistic credit score, together with missed credit score funds, defaults, CCJs, unsecured arrears, secured arrears or getting into a debt administration plan.
The most recent version of the research relies on analysis carried out by YouGov in September amongst a nationally consultant pattern of over 6,000 UK adults.
It additionally discovered that round half of individuals (49 per cent) who’ve missed one credit score fee say they’ve then gone on to overlook additional credit score funds.
As per the research, 13 per cent of those that have skilled antagonistic credit score in the course of the previous three years say that they plan to purchase a property within the subsequent 12 months, which equates to simply greater than 900,000 potential mortgage prospects with antagonistic credit score within the coming 12 months. However, 84 per cent of all pollees say the current financial surroundings will make it tougher for them to get a mortgage.
Paul Adams, gross sales director at Pepper Cash, stated: The 2023 Pepper Cash Specialist Lending Examine has been our most in depth analysis thus far and has supplied extra insights than ever earlier than.
It’s clear that the cost-of-living disaster is taking its toll and is affecting these individuals with antagonistic credit score the toughest. It paints an image of problem, nevertheless it additionally paints an image of alternative. As a result of it’s conditions like these which can be the the explanation why lenders akin to Pepper Cash exist. We work onerous to develop the insights into what prospects require, and we design our proposition round these insights – not simply our merchandise and standards, but additionally our service and the way in which we talk all through the method.
The put up 15.16 million people have history of adverse credit first appeared on Invest for Property London, Buy Residential property UK.