To access the best mortgage deals it is important to have a a good credit score 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 things to do to increase their get, and additionally making certain your costs was paid off on time and you can reducing your debts.

Read our ultimate guide to alter your credit rating 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. 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 items. 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 statement costs

Another https://elitecashadvance.com/loans/student-loan-rates/ significant action you can take to increase your credit rating and you may chances of getting your application approved would be to keep the expenses 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 products 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 payment, so that your credit file isn’t affected. Consider setting up a direct debit so you never miss a payment.

For individuals who look at your credit history and find that it’s not perfect, try to get in touch with the lending company to get it current. Otherwise, completely wrong recommendations you certainly will impact your credit rating and your ability to get a home loan.

Make certain that details such as your term and you may address try proving accurately, and argument any problems (instance credit searches, factors otherwise monetary contacts) you don’t recognise. Be aware that it will require many weeks having errors are upgraded, with regards to the lender in addition to borrowing resource institution, therefore the at some point you look with the which the greater.

8. Treat any dated financial ties

If you’ve ever had a shared economic device which have another person, this may let you know in your credit history. It’s not going to affect your credit rating but it make a difference to how loan providers see you. And if you’re associated with the anyone who has a woeful credit records, it will be best to get rid of ties using them off the statement so it will not mirror poorly you.

First, make sure the joint account might have been finalized. Then get in touch with the appropriate borrowing from the bank source agencies so you’re able to request a beneficial find away from disassociation’ to eradicate any connections from the credit file.

nine. Enhance 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 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.