Accord

JamieJ89

I have a slightly chequered credit file, and have two defaults (both from 2019 and under £500).

My broker is approaching Accord, along with some adverse lenders but from checking the criteria on the Accord website, they do not accept defaults or CCJS in the last 6 years.

Any hope? I assume he is trying them for a reason, but what are my chances?

Thanks.

ACG

I would say 0% (with accord). As you say, its an automatic decline as it is outside of criteria.

Unless your broker can do some magic, I think they are relying on outdated knowledge. Accord used to be (pre covid) alright for some adverse. 

K_S

ACG said:

I would say 0% (with accord). As you say, its an automatic decline as it is outside of criteria.

Unless your broker can do some magic, I think they are relying on outdated knowledge. Accord used to be (pre covid) alright for some adverse. 

@acg I haven't had a chance to use it yet but perhaps it has something to do with Accord's new two-tier 'Cascade' scoring released in July (I think) whereby at DIP the system may offer a Cascade product range (with slightly higher interest rates) if the applicant fails their normal credit-scoring.

ACG

Ive not heard about that, but it sort of makes their criteria pointless if they can still offer a product when their criteria says no. You can understand a sourcing system getting criteria wrong but their own website?