To access the best mortgage deals it is important to have a good credit rating. You can check your credit score for free with one of the main three credit reference agencies in the UK: Experian, Equifax and TransUnion. You can use your report to identify areas that you need to improve.

There are numerous steps you can take to improve the score, also making certain that all of your current expense are repaid promptly and cutting your debts.

Read our ultimate guide to change your credit history for the full lowdown. We’ve also put together a 12-few days plan to a better credit score, which breaks it down into easy-to-follow steps.

5. Sign in so you’re able to choose

Before you make a mortgage application, make sure you are on the electoral register as this can improve your credit score by around fifty items. It also allows lenders to check that you are who you say you are and make sure the details on your application are accurate.

If you are not registered to vote, you can sign up online. It only takes about five minutes and you’ll need your National Insurance number to hand. Check the Government’s website to see if you are eligible.

6. Keep statement money

Another important thing you can do to boost your credit rating and you may probability of getting the app recognized would be to maintain your expenses costs.

Lenders will check your credit report to see how you’ve managed your finances in the past and use this data to predict your future behaviour. Missing just one payment can knock off around 130 facts from your credit score. But if you have a good credit score and a solid history of repaying your bills on time, this will work in your favour.

Ideally, you want to pay your credit card balance off in full each month to avoid all interest and charges. But if this is not possible, you need to pay at least the lowest commission, so that your credit file isn’t affected. Consider setting up a direct debit so you never miss a payment.

For many who look at your credit file and get that it is perhaps not accurate, try to contact the financial institution to have it updated. Or even, completely wrong information you’ll impression your credit rating along with your ability to rating a mortgage.

Ensure that details like your name and target try showing correctly, and you will argument people mistakes (such as for instance borrowing hunt, points otherwise monetary associations) you don’t understand. Keep in mind it can take a few weeks for mistakes become up-to-date, with respect to the bank in addition to credit reference department, therefore the sooner or later you look with the so it the greater.

8. Clean out one dated economic connections

If you’ve ever got a joint economic equipment having another person, this can tell you on your credit history. It won’t apply to your credit rating but it can affect how lenders see you. And if you’re of someone who has a dismal credit background, it would be best to clean out connections together from their report so it doesn’t reflect defectively on you.

To begin with, ensure that the joint account has been signed. Following contact the relevant borrowing from the bank source organizations to consult good find off disassociation’ to eliminate people connections out of your credit history.

9. Raise your put

The higher your deposit, the lower the amount you’ll need to borrow from the bank. This is payday loan companies open on sunday known as your mortgage so you’re able to really worth‘ (or LTV). Saving a large deposit can boost your chances of getting your mortgage application accepted because the bank is likely to feel more comfortable if you can put a lot of money down upfront (usually over 10% of the value). If the house value was to drop, you would be less likely to go into negative guarantee with a large deposit behind you.