Credit reference agency Experian is piloting a new online tool on its comparison site, CreditMatcher.
The tool will help people find out which mortgage lenders they are likely to be accepted for and how much they could borrow, all based on the mortgage lenders criteria.
Six lenders have signed up to the new tool so far with Experian piloting to random customers visiting the site. This is a relatively small panel to start with however if this proves successful the potential for becoming market wide is huge.
Experian are working with lenders to simplify the process and hope their new tool will help customers see if they are eligible for a mortgage before applying, giving them more confidence.
If you would like to discuss this, or any anything else, contact our advisers today on 01202 937444 or visit our other websites to speak to a mortgage broker in Reading or a mortgage broker in Bournemouth