Pepper Money has launched its 2023 Specialist Lending Study, which aims to provide brokers with in-depth research on what is impacting their existing and potential customers.

It covers a wide range of topics such as adverse credit, the cost-of-living crisis and other considerations that can impact the lives of mortgage customers.

The latest edition of the study is based on research conducted by YouGov in September amongst a nationally representative sample of more than 6,000 UK adults.

The research found that 15.16m people have some history of adverse credit, including missed credit payments, Defaults, CCJs, unsecured arrears, secured arrears or entering a Debt Management Plan.

It also found that nearly half of people (49%) who have missed one credit payment say have then gone on to miss further credit payments.

According to the study, 13% of those who have experienced adverse credit in the last three years say that they intend to purchase a property in the next 12 months, which equates to just over 900,000 potential mortgage customers with adverse credit in the coming year. However, 84% of all respondents say the current economic environment will make it harder for them to get a mortgage.

The 2023 Pepper Money Specialist Lending Study is available to download now at pepper.money

Paul Adams (pictured), sales director at Pepper Money, said: “The 2023 Pepper Money Specialist Lending Study has been our most comprehensive research to date and has provided more insights than ever before.

“It’s clear that the cost-of-living crisis is taking its toll and is impacting those people with adverse credit the hardest. It paints a picture of challenge, but it also paints a picture of opportunity. Because it’s circumstances like these that are the reasons why lenders like Pepper Money exist. We work hard to develop the insights into what customers need, and we devise our proposition around those insights – not just our products and criteria, but also our service and the way we communicate throughout the process.

“We aren’t alone in our sector, and there remains good opportunities for people to continue to work towards their objectives when it comes to their home and mortgage. The secret to unlocking these opportunities is professional advice, and there has been no clearer call to action about the important role that mortgage brokers have in reaching out to new and existing customers to ensure they are able to make a positive difference to as many lives as possible.”