To access the best mortgage deals it is important to have a good credit score. 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 various things you can do to improve your get, including ensuring that all your debts is paid timely and lowering your bills.

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

5. Register to help you 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 products. 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.

six. Keep expenses payments

Another important thing you https://www.paydayloanalabama.com/albertville can do to boost your credit rating and you will likelihood of getting the software acknowledged should be to keep statement payments.

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 situations 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 minimum percentage, so that your credit file isn’t affected. Consider setting up a direct debit so you never miss a payment.

For folks who look at your credit history and acquire that it is perhaps not particular, you will need to get in touch with the lender to get it up-to-date. Otherwise, completely wrong guidance you’ll impact your credit rating plus capability to score a mortgage.

Ensure that details like your name and target was indicating correctly, and you can dispute people errors (such credit searches, situations otherwise monetary connections) you don’t recognise. Keep in mind it will require weeks for mistakes to get updated, with respect to the financial additionally the credit source company, therefore the eventually you look into this the higher.

8. Beat any old financial connections

If you’ve ever had a mutual monetary device that have someone else, this will show on the credit report. It’s not going to apply at your credit rating but it can affect exactly how lenders see you. And if you are regarding the somebody who has a woeful credit records, it would be better to clean out links together away from the report it will not mirror badly on you.

Firstly, make sure the combined membership could have been signed. Following contact the relevant borrowing source providers in order to request a great observe out-of disassociation’ to eradicate people ties from your own credit file.

nine. Improve your put

The higher your deposit, the lower the amount you’ll need to borrow from the bank. This is known as your financing to help you 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 collateral with a large deposit behind you.