Research finds borrowers lacking in awareness of credit scores
November 5, 2025 by Alan
Mortgage Advisors
Surveys and Statistics
The latest piece of research to be published shows that many UK adults have no awareness of their credit scores, including the impact they can have on their mortgage chances.
This research was published by HSBC UK and it found that this was true of close to one out of every three adults. That is the percentage that has never thought to check up on their credit ratings. HSBC spoke to a total of 2,000 people of varying ages for its study and 36% of them stated that they had no idea what their credit scores were at the moment.
However, the study also found a clear split along the lines of age, with millennials showing far greater credit management concern. 60% of those aged between 29 and 44 told the study that they worried about their credit ratings. By contrast, 63% of people aged 55 or over said that they had done nothing about their credit ratings in the last 12 months.
The overall number to take such a laissez faire approach to the issue was 43%. It has been pointed out that this means many potential borrowers may fail to grasp how their credit ratings can affect their mortgage chances.
HSBC UK head of customer propositions is Carl Watchorn. Speaking to Mortgage Introducer, he said:
“A good credit score is the key that unlocks better rates on loans, credit cards and mortgages, which can save you thousands over a lifetime.”
Mortgage advisors with CeMAP training may feel the need to be promoting the importance of maintaining good credit.
Written by
Alan
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