A single missed credit payment is the most common way for a borrower to be marked as having an adverse credit record, according to research from Pepper Money. Almost three quarters, or 73%, of borrowers end up with a poor credit record through "a simple missed credit payment", says the specialist lender in its
Despite a strong growth record and unique take on the lending market, the Pepper Money Ltd (ASX: PPM) share price has struggled to take off The post The Pepper Money (ASX:PPM) share price sinks below listing price appeared first on The Motley Fool Australia.
Specialist mortgage lender, Pepper Money, has identified a simple missed credit payment as the most common reason for people to have an adverse credit record as part of its Adverse Credit Study, in association with YouGov.
Some 73% of people with an adverse credit record have a missed credit payment, and 43% of all adults who have missed a credit payment said they have missed more than one.
The second most common reason is missing several credit payments, resulting in a Default, which has been experienced by 35% of people with adverse credit. Just over a quarter (27%) have entered into a Debt Management Plan and a similar number (26%) have unsecured arrears.
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Investors sneeze at Pepperâs ASX debut
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Pepper Moneyâs disappointing ASX debut could sap further energy from the IPO pipeline, as nervous investors wait for the raft of newly listed companies to report full-year results in August before committing to more deals.
Investors sneezed when they got a sniff of Pepper after the non-bank lender made its debut on the ASX on Tuesday. The company raised $500 million âthe largest amount in any IPO this year â four weeks ago.
Pepper CEO Mario Rehayem says he is confident the register is overweight long-term investors. Â
Renee Nowytarger
Sentiment around initial public offerings has soured since Pepperâs funding was secured, and a series of deals were pulled from the market earlier this month as two of last yearâs biggest new listings, Nuix and Adore Beauty, slumped after missing forecasts.