PRIMIS reports rise in adverse credit queries

Broker queries relating to adverse credit dominated PRIMIS Mortgage Network’s product desk during August.

The network revealed that its product desk supported appointed representative (AR) advisers with a total of 1,903 queries during the month.

Adverse credit queries saw an uptick, although PRIMIS stated that even though interest rates are higher for such borrowers, the network is now seeing more mortgage options being made available to those with adverse credit – signalling an increase in lender confidence.

PRIMIS’ product desk also saw an increased number of later life lending enquiries to provide gifted deposits, as well as rises in expat buy-to-let queries, and the number of queries about self-employed mortgages.

“The results reflect the market’s continued recovery from the coronavirus crisis,” commented
PRIMIS proposition director, Vikki Jefferies.

“It’s especially promising to see an uptick in the number of queries on adverse credit and self-employed mortgages as mortgage lenders begin to soften criteria and expand the products on offer to more complex borrowers.

“The increased activity in this area suggests that many who may have struggled to remortgage or purchase new properties during the pandemic are once again able to access affordable products.”

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