Decoding credit reports: A guide for mortgage brokers
Paula Mercer, director of sales at LendInvest, outlines best practices for brokers when examining their clients’ credit reports, including recognising potential red flags and considering the broader financial picture to increase their chances of a successful mortgage application.
The learning objectives for this article are to:
- Understand the purpose and importance of credit reports for mortgage brokers in assessing applicant suitability.
- Identify and interpret the key sections of a UK credit report, including personal information, credit accounts, public records, and credit inquiries.
- Recognise common "red flags" within a credit report that may indicate financial risk to lenders and understand how these impact mortgage eligibility.
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