In this our third edition of the Adverse Credit Study, we conducted field work in the recent economic uncertainty back in August. We also now have the benefit of being able to share year-on-year trends following the very first study’s launch back in Autumn 2019.
To gain an insight into how COVID-19 has affected borrowers, we decided to include several COVID-19 related questions that give intermediaries a unique view on its effects on the mortgage market. We’ve also looked to uncover just how much the pandemic has affected people in our society who have experienced adverse credit in the last 3 years.
We may have seen fewer people who have experienced adverse credit in the last 3 years than there were last year, but we expect the number of small blips on credit files to increase in the next 6 months.
As a result, it’s going to be more important than ever, for intermediaries to continue to support and find solutions for those individuals as they look to plan their financial futures.
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