7. Boost one problems on the credit reports

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 many different things to do to increase your own rating, together with ensuring that all your valuable costs was paid timely and you will lowering your bills.

Read our ultimate guide to alter your credit rating for the full lowdown. We’ve also put together a 12-week plan 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 check in as this can improve your credit score by around 50 situations. 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. Maintain your statement costs

Another significant thing you can do to increase your credit rating and you can likelihood of getting your software accepted is to keep the 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 issues 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 money loans in Autaugaville 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 folks who check your credit history and find that it’s maybe not accurate, make an effort to get in touch with the lender to get it up-to-date. If you don’t, wrong advice you certainly will impression your credit rating and your ability to get home financing.

Make sure info such as your title and target try proving truthfully, and you can dispute any errors (such as borrowing searches, products or financial associations) you don’t understand. Keep in mind it can take a few weeks getting errors are updated, depending on the bank while the borrowing reference agency, therefore the sooner or later you look into so it the higher.

8. Treat one dated financial ties

If you have ever had a combined financial device having another person, this will reveal on your credit report. It will not apply at your credit score nonetheless it may affect exactly how loan providers see you. So if you’re of someone who has a woeful credit record, it will be best to lose connections together with them of the declaration so it cannot mirror poorly on you.

First of all, make sure the joint membership could have been closed. After that contact the appropriate credit site companies so you can consult a notice out-of disassociation’ to remove people ties from your credit history.

nine. Increase your put

The higher your deposit, the lower the amount you’ll need to borrow from the bank. This is known as your loan 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.