Brokers have raised concerns that borrowers with adverse credit histories will find it the most difficult to obtain a mortgage in the next 12 months.
This was revealed by an online survey of 500 brokers conducted by Pepper Money and Mortgage Business Expo.
It found that 26 per cent of brokers were worried about finding a mortgage for those with adverse credit.
Some 22 per cent of respondents said this would be hardest for buy-to-let cases while 12 per cent said remortgaging at a high loan to value (LTV) tier would be a challenge.
Around nine per cent of brokers said they were worried about getting a mortgage for older borrowers who were near retirement.
Ryan Brailsford, business development director at Pepper Money, said: “Finding a mortgage for this growing group of customers doesn’t have to be a challenge. Lenders, like Pepper Money, are open to considering individual circumstances, have clear, concise criteria and, at Pepper, we’re also very proud of our service levels.
“So, finding a mortgage for customers who have blips on their credit record can be a lot more straightforward than you would think – and it could make an enormous difference to their lives.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS