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 activities to do to improve your own rating, as well as making sure your http://cashadvancecompass.com/loans/loans-with-instant-bank-verification entire costs are repaid timely and you may cutting your costs.

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

5. Register so you can vote

Before you make a mortgage application, make sure you are on the electoral register as this can improve your credit score by around 50 issues. 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. Keep statement costs

Another essential action you can take to improve your credit score and you will probability of getting the application acknowledged is to try to keep your 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 affairs 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 percentage, 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 the credit report and find that it’s perhaps not real, you will need to get in touch with the lending company to have it upgraded. Or even, wrong recommendations you certainly will feeling your credit rating and your power to score a mortgage.

Make certain that details like your label and address was indicating truthfully, and you can conflict any problems (particularly borrowing from the bank online searches, factors or monetary associations) that you don’t acknowledge. Be aware that required several weeks having errors getting upgraded, according to the financial while the borrowing reference agency, therefore, the in the course of time you appear towards which the higher.

8. Reduce people old economic links

If you have ever had a mutual economic device having someone else, this may let you know on the credit history. It will not affect your credit score it could affect exactly how lenders see you. And if you’re of someone who has a poor credit record, it would be better to dump connections together with them out of their statement that it doesn’t reflect poorly you.

To start with, make sure the mutual membership has been signed. Next contact the appropriate credit reference agencies to help you consult good ‘notice regarding disassociation’ to get rid of one links from the credit history.

nine. Boost your deposit

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