Changes to credit files ‘will be problem for FTBs’

Changes to the system of credit filing to be introduced later this year will have damaging effects for many would-be first-time buyers (FTBs) in the UK, it has been claimed.

According to the online mortgage firm, the planned inclusion of student loan data into an individual’s credit record will hinder many young people in their efforts to get a foot on the housing ladder.

Given that the average British FTB is aged 29, it is likely that many young consumers who had debt management problems earlier in their lives will be rejected for a mortgage deal as a result of the added information, the organisation suggests.

Francis Ghiloni, marketing and business development director of, said: “The average student can face debts of over £20,000 by the time they graduate and their average starting salary is around £16,000.”

“Given statistics like this, many students miss one or more of their student loan repayments.”

A report from Alliance Trust earlier this week claimed that the underlying economic wellbeing of people living in the UK is worsening.


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