Brokers have hit out at lenders for rejecting borrowers with perfect credit reports.
Accord and BM Solutions are among the lenders that brokers say they have had problems with.
Brentchase Financial Services sales director Mike Fitzgerald says: “The latest cases, not just me but with other brokers too, have been with Accord. It is a nuisance, especially when they have pristine credit scores. One client had the highest marks possible on both Experian and Equifax.”
The Mortgage Practitioner principal Danny Lovey says he is warning clients of possible rejection even if their credit reports are clear. He says: “It is something that I am preparing people for.”
Accord says all lenders have different lending policies depending on their own experience in order to lend responsibly while BM Solutions says it continues to lend actively.