I read with some amusement the article by Devraj Ray in your 12 December issue as I am sure most brokers have had clients quote their Experian score and feel assured they could borrow what they needed.
Instead, brokers might prefer to refer their clients to www.noddle.co.uk.
It is run by Call Credit, reportedly the second-largest provider of credit data, and will provide “free credit reports for life”.
A friend of mine runs one of their subsidiaries and introduced me to the site last year, so I signed up immediately. Since then, I’ve encouraged all my clients to use the service to monitor their credit profile.
As the years go by, it will easily be able to provide an up-to-date report for each new mortgage.
Compared with Experian, Noddle does not have as many pretty colours and the printed reports are not as easy to read.
But the score is more simplistically “out of five”, which appears to better set clients’ expectations.
Its main selling point, however, is that it is free.
(NB Brokers and clients should be aware that Noddle asks for card details when registering but this is purely for identification purposes.)
Temple Capital Finance Ltd