Referral platform for Utility Companies

Is demand for arrears grants running too high?

Instead of constantly bailing out customers in arrears, you can help them improve their financial wellbeing.

By referring your arrears customers to the NestEgg platform, they enhance their credit profile by receiving tips and advice and accessing affordable credit, if needed.

Improving the arrears journey, in this way, means that customers that may return for assistance are less likely to end up in arrears.

Inclusive lending

Community finance providers are good news for utility companies.

NestEgg’s platform helps lower-income households access affordable credit and safe savings.  

By using responsible lenders people are less likely to get into arrears on their gas, electricity or gas bill.

According to Ofgem, average electricity arrears (where there is no arrangement to repay) have risen to over £1,000. Similar gas arrears now stand at more than £800

These total 1m electricity accounts and 850,000 gas accounts

Over 1 in 5 adults (22%) are borrowing more money or using more credit.

NestEgg provides one place for people to check whether qualify for loans from responsible lenders across the UK. The platform filters eligibility for joining and for loan products and provides soft credit checks. As a result, potential borrowers can see if they meet a lender’s criteria to be accepted for a loan. If declined, NestEgg provides bespoke tips and advice to help the applicant get accepted next time.

NestEgg platform

Don't take our word for it...

I had a child at a very young age. To support myself I took out a very large guarantor loan. But it ruined my credit file. Partly because it was a large loan and the repayments were high. It made me look like I had too much debt. The interest rate was so high. I ended up paying back double.

Because I didn’t want my credit score to get any worse, I did everything I could to repay the loan without missing a payment. But this meant that I’d skipped on other bills – like water, gas and electricity. Because of that, my credit score did fall anyway.

NK, Member of Central Liverpool Credit Union


How it works

An arrears email is sent to the member providing details of the NestEgg platform

The member visits the NestEgg platform to see which loan products & lenders they are eligible for if they need to borrow at a cheaper rate

Following a soft credit check, the member can see if they would be accepted for a loan from a responsible lender. 

If accepted, the responsible lender opens up a loan & savings account for the member

To help improve their credit profile, tips and advice are provided specific to the member's unique situation

Over time, the member's credit score improves & their credit report 'thickens' opening up new banking options

Now they can pay their utility bills using direct debit and are far less likely to fall into arrears

Utility company flow

Frequently Asked Questions