7. Augment any mistakes on your credit file

To access the best mortgage deals it is important to have a a good credit score get. 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 you can do to increase their rating, and additionally making sure all of your current bills was repaid timely and you can reducing your expenses.

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

5. Register to help you vote

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 qualified.

6. Keep the statement money

Another significant thing you can do to boost your credit score and you will probability of having your software recognized is always to keep the 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 activities 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 fee, 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 acquire that it’s perhaps not perfect loans Alabaster AL, try to contact the lending company to have it up-to-date. Or even, completely wrong pointers you may impression your credit rating plus ability to score a mortgage.

Make certain info just like your name and you will address try demonstrating accurately, and you may disagreement any problems (particularly credit queries, activities otherwise financial associations) that you don’t understand. Keep in mind it requires few weeks to own mistakes to be upgraded, with regards to the financial together with borrowing site department, therefore, the sooner you look to the which the higher.

8. Treat one dated economic links

If you have ever had a combined economic unit which have another individual, this may tell you on your credit report. It will not connect with your credit rating nevertheless could affect exactly how loan providers view you. And if you’re of this someone who has a dismal credit records, it could be better to treat connections with them away from your own declaration which will not mirror badly you.

First, ensure that the combined membership has been closed. Then get in touch with the relevant borrowing from the bank reference enterprises to consult a observe off disassociation’ to remove any ties from your own credit history.

9. Raise your deposit

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