To access the best mortgage deals it is important to have a a good credit score rating. 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 activities to do to increase their rating, and making sure your bills was reduced on time and you may cutting your expenses.

Read our ultimate guide to alter your credit rating for the full lowdown. We’ve also put together a 12-month bundle 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 circumstances. 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 the costs costs

Another significant thing you can do to increase your credit rating and you may probability of having your application approved is to keep the statement repayments.

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 items 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 minimal payment, so that your credit file isn’t affected. Consider setting up a direct debit so you never miss a payment.

If you look at the credit report and find that it is maybe not direct, try to contact the financial institution to get it updated. If not, wrong suggestions you may impression your credit score and your capability to get home financing.

Make sure info like your title and you may address is actually proving truthfully, and you may conflict people errors (such as for example borrowing online searches, situations otherwise financial contacts) you do not understand. Be aware that it requires few weeks to own problems as upgraded, with regards to the bank and the borrowing reference department, so that the at some point you look for the which the higher.

8. Lose one dated monetary ties

If you have ever got a joint financial tool that have someone, this may inform you in your credit history. It’s not going to affect your credit score nevertheless can affect how lenders see you. And if you are regarding the anyone who has a dismal credit records, it might be best to beat ties using them out of their report it doesn’t mirror poorly on you.

First and foremost, make sure the joint account has been finalized. Following get in touch with the appropriate borrowing resource companies to help you request an effective ‘notice off disassociation’ to remove one connections from your credit history.

9. 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 help you really 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.