39% of British adults have missed more than one credit payment, according to research carried out by YouGov on behalf of specialist lender, Pepper Money.

This rises to 44% of adults between 35 and 54, while only 31% of people aged 55+ have missed more than one credit payment, indicating that multiple missed payments are becoming more common amongst younger borrowers.

Further analysis shows that respondents aged 35-44 are much more likely to have missed several consecutive payments on a credit card, loan or agreement, resulting in a default that those aged over 55.

Paul Adams, sales director at Pepper Money, said: “Multiple missed credit payments can lead to a borrower’s mortgage application rejected by a high street lender, but there are plenty of specialist lenders that are able to offer competitive solutions to customers with these circumstances. Our research shows that nearly four in 10 adults have missed more than one credit payment – so this is not a marginal issue. It’s a consideration for a significant proportion of the population.

“As an industry, we need to work hard to ensure that customers who have missed multiple payments do not write off their own chances of securing a mortgage. By talking to an adviser, they can unlock new opportunities to buy a home for their future, even if they have missed payments in their past.”