Pepper Money have commissioned extensive research to shed light on the world of adverse credit, to encourage greater understanding and to support more open discussion.
Based on ONS data and their own research, Pepper Money estimate that 1.26 million people with adverse credit are looking to buy a property in the next 12 months and the great news is 4 in 10 of those are looking for support and guidance from a mortgage broker.
The research also found that:
- When it comes to finding a broker, 49% of respondents said they would use online research to identify the right adviser to meet their requirements
- However, 44% say they would go directly to their bank, and
- 58% say they would seek advice from family and friends
Although awareness of mortgage brokers is relatively good, the study shows more people to seek advice from family and friends than professionals and risk getting incorrect information.
Find out more by downloading the full debrief
SOURCES:
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 4,163 adults, of which 600 have experienced negative finance in the last 3 years. Fieldwork was undertaken between 11th – 15th July 2019. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).
Based on UK adult population of 52.4m, according to the ONS
