"At the same time, more than four in 10 still say that they would feel uncomfortable talking to a professional financial adviser about their finances."
54% of people with adverse credit say they would speak to a broker to help them get a new mortgage, up from 44% when the study was last conducted in Spring 2021.
However, 41% of respondents with adverse credit say they would feel uncomfortable talking to a professional adviser about their finances.
Paul Adams, sales director at Pepper Money, said: “Professional advice is the best option for any customer who has experienced blips on their credit record. Advice not only ensures they are presented with the best options for their circumstances, but it also opens up the option of lenders that are not available direct to customers. So, it’s great news that more than half of customers with adverse credit would speak to a broker to help them get a mortgage to buy a new property. However, at the same time, more than four in 10 still say that they would feel uncomfortable talking to a professional financial adviser about their finances.
“It’s important then that we work harder to break the stigma around missed credit payments and do more to promote the benefits of speaking to a mortgage adviser. At Pepper Money, we continually develop our proposition to benefit exactly those customers. With our Adverse Credit Study, we are investing in raising understanding and awareness of the options available to them.”
