Posts by Adrian Davies
New feature: Supersearch
NestEgg’s Decision Engine now searches for hidden addresses. Retrieving six years of addresses, these are automatically used for instant lending decisions. Supersearch provides up to four addresses. And this is at no extra cost. Saving time for applicants and Loans Officers alike Supersearch improves the ‘customer journey.’ Minimising the number of addresses an applicant needs…
Read MoreDecline to accept
Credit unions save low income borrowers, in Great Britain, £120m in excess interest every year. NestEgg users generate a ‘social dividend’ of £200 saved interest, each working hour. However, 40% of loans are declined. As a result, every year 100,000 vulnerable applicants are turned away by affordable credit providers. Research into declined pay day loan…
Read MoreLending trends since lockdown
On 10 June our webinar looked at lending trends since lockdown. We wanted to find out how Coronavirus affects the financial health of credit union borrowers. Responsible lenders can adjust their lending to this new reality. At the end of the webinar, and this article, we share two risk-based personas. These are example types of…
Read MoreHow to get on the electoral roll
It’s unusual for lenders to make you a loan if you’re not on the electoral roll. Yes, it’s as simple as that! Luckily, it’s an easy problem to fix. How to sign up To register to vote in the UK, you must be: A British citizen An Irish or EU citizen living in the UK…
Read MoreHow to turn your credit score from OK to GREAT
If your credit score is ‘OK’ but not great, you’ll need to sort out things like: High balances on credit cards and overdrafts High overall amount of debt Missed payments Being consistently at or near a credit card limit may be signal to a lender that you are struggling to pay bills and therefore reduce…
Read MoreWhat to do about a LOW credit score
If you have a low or poor credit score, it is likely that you’ll need to address a number of issues. These include: Getting on the electoral roll Missed payments or defaults County Court Judgments (CCJs) and insolvencies Lenders may reject your loan application if you have any of the above. Read more about getting…
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