According to data from Knowledge Bank (https://www.mortgagesolutions.co.uk/news/2022/06/09/rise-in-broker-searches-for-missed-or-late-payments-as-cost-of-living-bites/), intermediaries are increasingly searching for lenders who will accept applications from clients with missed or late payments.
It would be great to get an idea of the scale of this issue within your own businesses. What sort of proportion of clients are you seeing who have a missed/late payment or two on their record? Is that proportion increasing at the moment?
It would also be good to get a sense of what lenders' attitudes are like regarding these clients at the moment. Are there any that stand out as being particularly good or bad? And is this something that lenders are going to have to be a bit more flexible on if the cost of living situation gets worse?
Thank you, as always!