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Credit Kudos and Mojo Mortgages launch MortgageScore

Freddy Kelly, CEO of Credit Kudos

UK-based online mortgage broker Mojo Mortgages has announced the launch of its market service, MortgageScore in partnership with Credit Kudos. The new service, powered by Credit Kudos’ open banking data, aims to assist buyers by providing insights as well as an individual score created on the basis of credit and employment history, spending habits, deposit saved and income.

Richard Hayes, CEO, and Co-Founder of Mojo Mortgages said, “We’re really excited to be able to work with them for MortgageScore™. When launched, it’ll help thousands of first-time buyers get on the property ladder by simply giving them personalized advice on getting mortgage ready.”

According to the supplier, the service is expected to bring transparency in the process by showing the way the individual score was calculated. Its coaching module will offer customized coaching advice to users based on their financial behavior.

Freddy Kelly, CEO and Co-Founder of Credit Kudos, said, “ Credit Kudos exists to make it easier and fairer for people to access credit, whether that is a mortgage or a car loan, by providing lenders with accurate, real-time information on someone’s creditworthiness. We’re delighted to be partnering with Mojo Mortgages to help its mortgage lenders make better, fairer credit decisions and provide borrowers with actionable insights to improve their chances of being approved.”

The partnership is expected to be launched in London this week.

Recently, Credit Kudos announced that it has been declared a finalist in the Government-run Affordable Credit Challenge, a £1.5m challenge, which aims to encourage UK FinTechs and community lenders to work together in order to access alternatives to high-cost short-term credit.

Credit Kudos

Established in 2015 in London, it is an FCA-authorised credit bureau that uses financial behavior to measure creditworthiness. It aggregates and interprets transaction data for use by lenders, brokers, and financial institutions and provides a comprehensive view of a borrower’s creditworthiness.

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