Online estate agent Purplebricks sells 76% of properties it lists

New mortgage eligibility service points borrowers in right direction

Mortgage eligibility can be difficult to gauge for borrowers who have faced stricter affordability and stress tests over the past few years.

Unless utilising the services of a broker, most borrowers are in the dark about what mortgage providers will actually lend them until they are well into the application process. Since failed mortgage applications can negatively affect your credit rating, having a better understanding of their eligibility would be hugely beneficial for many borrowers.

Making the mortgage process easier to navigate

Consumers have been able to check their eligibility for a credit card or loan for some time, making the borrowing process easier and protecting credit scores. Experian recognised the benefits of offering the same service for mortgage lending after finding out that a third of homeowners (from 2,000 surveyed) thought that knowing what deals they could be eligible for would make the mortgage process easier to navigate; it piloted its mortgage eligibility tool in 2017.

The Experian mortgage eligibility service shows prospective borrowers which mortgages they are likely to be accepted for and how much they could borrow. The tool itself compares customer credit information against lender criteria, with the aim of protecting a prospective borrower’s credit history.

50% of testers needed to adjust to meet eligibility criteria

During the pilot, Experian found that around 70% of customers would get a mortgage with one of the service’s lenders, but 50% of those testing the service found that they would need to adjust their deposit or borrowing amount to meet lenders’ affordability requirements.

Currently, the providers on Experian’s system are Aldermore, Barclays, Co-op (Platform), Coventry, Family Building Society, Leeds Building Society and West Brom. More lenders are in the pipeline to join the service but cannot yet be confirmed for commercial confidentiality reasons.

The credit reference agency is rolling out its revolutionary tool to customers over the course of a few weeks, having secured a full mortgage eligibility permission from the Financial Conduct Agency.

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:


Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment


Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:


+44 (0) 333 123 0320

Open from 9am-6pm GMT


+852 6699 9008

Open from 9am-6pm HKT