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 MoreGreat, there are no county court judgments on your file.
You’ve got a County Court Judgment
A County Court Judgment (CCJ), even from some time time ago, still has a negative effect on your credit score. Consequently a CCJ can make it harder for you to get a loan. Tip: ‘Satisfying’ a CCJ. You can repay a CCJ in full. This is called ‘satisfaction’. First, though, you must complete Form N443:…
Read MoreYou’ve got a recent County Court Judgment
Having more than one County Court Judgment (CCJ) or a very recent CCJ will make it really hard to get a loan. The age of the CCJ matters. Tip: If your CCJs are almost six years old, it is probably worth letting the time pass. However, if the CCJ is very recent you could pay…
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