To access the best mortgage deals it is important to have a good credit 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 numerous things you can do to boost their rating, plus ensuring that all of your expenses try reduced on time and cutting your expense.

Read our ultimate guide to alter 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 register as this can improve your credit score by around 50 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 eligible.

6. Keep bill repayments

Another significant action you can take to increase your credit rating and you may odds of getting the software accepted should be to maintain your statement money.

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

For those who look at your credit report and get that it’s perhaps not right, just be sure to get in touch with the lender to get it updated. If you don’t, incorrect suggestions you are going to impression your credit rating as well as your capacity to get home financing.

Make sure that information just like your term and address try demonstrating accurately, and you may conflict any errors (instance borrowing from the bank hunt, activities otherwise monetary contacts) you don’t acknowledge. Bear in mind that required a few weeks to own errors becoming upgraded, with regards to the financial additionally the borrowing from the bank resource agency, and so the in the course of time you look with the it the greater.

8. Eradicate people old monetary connections

If you’ve ever got a combined monetary product having another individual, this may reveal on the credit report. It’s not going to affect your credit score however it can affect exactly how loan providers view you HI payday loan online. So if you’re from the anyone who has a poor credit history, it will be better to clean out connections together with them regarding the statement that it doesn’t reflect badly you.

First, ensure that the mutual account could have been closed. Next contact the relevant borrowing from the bank reference enterprises to consult a great notice from disassociation’ to eradicate any ties out of your credit report.

9. Raise your deposit

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