Previous missed payments, an adverse credit history or a credit blip can affect a person’s credit score.
But a credit score doesn’t tell the full story of an applicant’s circumstances. That’s why Pepper Money don’t make lending decisions based on credit scores.
In this interesting case of the historical student credit card, first time buyers, Katie and Phil, wanted a mortgage. Both had good incomes and a 20% deposit through savings and an inheritance.
Katie’s missed credit card payments as a student however, resulted in their application being rejected by a high street lender.
Pepper Money’s individual approach to assessing mortgage applications meant that Katie and Phil were able to secure a mortgage.
