Banks and building societies are careful who they lend money to (understandably!) and so you should be prepared to have your financial history carefully scrutinised during your property hunt.
Looking into your credit history will show up any defaulted payments and give the lender a good impression of how financially responsible you are with your spending. As well as looking at your credit report, lenders will also look at any County Court Judgements (CCJs) or bankruptcy proceedings that may be against your name.
If any of these apply to you, then you may find it harder to be accepted for a mortgage, however, there are certain lenders who will still lend to you.
Here’s a breakdown of what your options might look like on the market…
What’s my credit score like?
It’s always a good idea to know your credit score; this way you can better understand if and why there might be a reason for a refusal of your mortgage application. You can request to see your own credit rating from companies like…
As well as reviewing your credit score, these sites can provide simple ways for you to boost your score, such as registering on the electoral roll and being more vigilant with your details.