Lenders That Level the Playing Field for UK Immigrants Will Benefit Most From One of UK’s Fastest-Growing Demographics
The research finds that, for two in three (66%) immigrants, the process to receive credit products takes longer than it should due to applicants' lack of UK credit history.
- The research finds that, for two in three (66%) immigrants, the process to receive credit products takes longer than it should due to applicants' lack of UK credit history.
- Only one in four (26%) of immigrants who moved to the UK in the last ten years have experienced fully online processes to access credit products and services.
- This imbalance arises when an individual moves to a new country, leaving their credit history behind in their previous country.
- Gaining access to an applicant’s previous credit history provides lenders a more accurate view of a consumer’s financial situation.