To access the best mortgage deals it is important to have a good credit 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 various things to do to improve your rating, and additionally ensuring that all your expense is actually reduced promptly and you may lowering your bills.

Read our ultimate guide to alter your credit score for the full lowdown. We’ve also put together a 12-few days bundle 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 sign in as this can improve your credit score by around fifty activities. It also allows lenders to check that you are who you say you are and loans Brent Alabama 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 your costs payments

Another significant thing you can do to boost your credit score and you may likelihood of getting your app approved is always to keep costs 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 lowest percentage, so that your credit file isn’t affected. Consider setting up a direct debit so you never miss a payment.

For people who look at the credit report and find that it’s not appropriate, just be sure to get in touch with the lending company to have it updated. If not, wrong guidance you will feeling your credit rating and your capability to rating a home loan.

Make certain that info like your term and you may address try appearing precisely, and you may argument any problems (particularly borrowing from the bank online searches, situations otherwise economic connections) you don’t recognise. Be aware that it takes weeks to own errors to get updated, with regards to the lender plus the borrowing resource company, therefore the at some point you look toward so it the greater.

8. Treat one dated economic links

If you’ve ever got a joint economic device with another individual, this may let you know in your credit report. It won’t apply to your credit rating it make a difference how loan providers see you. And if you are associated with the somebody who has a dismal credit background, it might be far better clean out ties with these people of your own declaration which will not reflect badly for you.

To begin with, make sure the mutual account might have been finalized. After that contact the relevant borrowing from the bank source organizations in order to demand a good notice away from disassociation’ to get rid of people connections out of your credit report.

9. Increase your put

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