Halifax and Experian have launched a partnership to help first time property buyers understand why their credit rating has prevented them from getting a mortgage.

The Halifax CreditExpert service is being delivered through Halifax's First Time Buyer Pledge, which is a promise to support those looking to get on the property ladder. As part of the pledge, Halifax commits to help unsuccessful applicants understand what has stopped them from being approved and what they can do to reverse the situation. Currently, where applicants are unsuccessful in obtaining a mortgage due to their credit score, restrictions mean that lenders cannot disclose the exact reasons why.

Through the launch of the new service, applicants who do not get approved for a mortgage because of their credit score will have unlimited access to CreditExpert at a special rate following a 30-day free trial. Stephen Noakes, commercial director at Halifax, said: "Although eight out of ten borrowers are successful in getting a mortgage, we don't want the unsuccessful few to feel like they've hit a brick wall if they're turned down.

"However, lenders are limited in what we can say about someone's credit profile, and we know that hasn't been particularly helpful. By developing this new service with CreditExpert, it means that we can really help first time buyers understand what they need to..........---> Read more HERE