Over-the-top credit scoring is causing everyone distress

I was intrigued to read the responses to the news that more than a fifth of adults could be prevented from getting a mortgage (Mortgage Strategy Online).

I agree with most of the comments posted regarding the tight credit scoring of certain companies. We have had several good cases turned down by one lender recently, only to find that the clients have been accepted by that lender’s parent company.

Both clients had a high credit score and good jobs, with only a small amount of credit card debt. Overzealous credit scoring by some lenders is a joke and is causing distress to clients and brokers.

The broker industry must name and shame these lenders and support those that are ditching credit scoring and employing underwriters.

MIKE FITZGERALD
SALES DIRECTOR
EMBA GROUP