8.21 million people in the UK have missed a credit payment in the last 3 years, highlighting how common adverse credit could be. Yet 66% of UK adults believe an adverse credit event will harm their chances of securing a mortgage.
For many aspiring homeowners, that’s enough to stop them from applying altogether.
Many high street lenders rely heavily on a customer’s credit profile when assessing an application. As a result, even a small number of missed payments can affect their ability to access a mortgage, despite otherwise being able to afford one.
At Pepper, we take a more rounded view. We look at the full picture and understand that life events can sometimes affect finances. That’s why a small number of missed unsecured payments doesn’t necessarily mean the end of the road for your customer.
In a case like this, the customer would fit our Pepper 48 Light range.
At Pepper, we support your just-off-high-street customers with flexible criteria and human underwriting. Here’s how we can help customers with light adverse credit:
- We don’t credit score – affordability is based on the full picture
- No debt-to-income ratio
- Unsecured missed payments don’t affect the product tier
- Minimum income of £18,000, with 100% of secondary income accepted
- Terms of up to 40 years – supporting affordability
- We individually underwrite applications, looking at the story behind the numbers for reasons to say yes rather than no.
For more information and support, get in touch with your BDM to discuss our Just-Off-High-Street range, or visit our website to learn more.