Boosting your credit rating
There are a number of ways you can improve your chances of getting the mortgage you want.
The three main credit reference agencies are Experian, Equifax and TransUnion. You can ask them directly for a copy of your credit report (a fee may apply). When you receive it, check everything’s accurate and contact the agency if anything’s amiss.
You might find it harder to get credit if you’re not on the electoral roll. To register, go to www.aboutmyvote.co.uk and download a form.
Review unused credit cards or accounts and update your details
Having credit cards that you don’t need will increase the amount of overall credit you have available and may impact your credit score. To ensure a smooth ID check, it’s important that all active accounts are registered to your current address.
Don't be late with payments
Your credit score will be better if you keep up the repayments on any credit agreements you have. Late, missed or default payments or County Court Judgement (CCJs) will negatively impact your score, so always get in touch with your provider if you’re struggling.
Establish a pattern of regular saving
Having savings may give you a buffer against unexpected events, helping you to avoid missing payments or increasing the amount you owe on credit cards or loans.
If you have a current account with a bank or building society, you might find it easier to get a mortgage with the same lender. They might even have special offers for existing customers.
For even more information on improving your credit rating see our useful guide – Ways to improve your credit score.