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 many steps you can take to boost the rating, in addition to making certain all your valuable expense is paid back promptly and lowering your bills.

Read our ultimate guide to replace your credit score 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. Sign in 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 fifty things. 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.

six. Keep expenses costs

Another important thing you can do to improve your credit rating and you may probability of getting your software acknowledged should be to keep the statement repayments.

Lenders will check your credit report to see how you’ve managed best installment payday loans Nebraska your finances in the past and use this data to predict your future behaviour. Missing just one payment can knock off around 130 factors 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 fee, so that your credit file isn’t affected. Consider setting up a direct debit so you never miss a payment.

For those who check your credit report and find that it’s perhaps not exact, make an effort to contact the lender to get it current. Otherwise, completely wrong suggestions you can expect to effect your credit score and your capacity to score a home loan.

Guarantee that info just like your title and target are demonstrating correctly, and disagreement any mistakes (such as for instance borrowing from the bank queries, points otherwise economic relationships) you don’t recognise. Bear in mind that it requires several weeks getting errors are up-to-date, with regards to the lender as well as the credit site service, so the in the course of time you appear towards so it the higher.

8. Dump any dated monetary ties

If you’ve ever got a mutual monetary product which have someone else, this will let you know on your own credit file. It will not apply at your credit rating however it may affect how lenders view you. So if you’re of this anyone who has a poor credit record, it will be far better eliminate links with them away from the statement so it cannot echo improperly for you.

Firstly, ensure that the joint account could have been closed. Upcoming contact the relevant credit reference firms in order to demand a see from disassociation’ to eradicate any ties from your credit history.

nine. Boost your put

The higher your deposit, the lower the amount you’ll need to borrow from the bank. This is known as your financing so you’re able to worthy of‘ (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.