According to Bradshaw a number of other brokers are placing clients with adverse credit lenders rather than attempting to get them a better rate with a prime lender.
More brokers should send credit impaired clients to high street lenders rather than straight to an adverse credit lender, says Ashley Bradshaw, financial adviser at Prolific Mortgage Finance.
According to Bradshaw a number of brokers are placing clients with lenders that deal inadverse credit without even attempting to get them a better rate with a mainstream one.
He said: “Even for a client that has defaulted on a payment brokers must go to the high street first before sending them to adverse lenders.
“I’ve seen a lot of brokers who don’t wait until the case gets declined by the high street first and go straight to adverse lenders, costing the client thousands in the process.
“Just because a client has defaulted doesn’t mean they can’t be served by one of the high street lenders.
“You should call every bank and ask them if they will take the case as they as they have subtle differences in criteria, for example one might accept a default under a certain value.”
