When submitting an application for a Mortgage, Loan or Credit Card the lender will carry out a credit check on you. The better your credit score the more likely the application will be approved.
It is advisable to check your credit report prior to applying for a mortgage to ensure that it is up to date and that you have accurate information to give your adviser.
Click on the link below to access the EQUIFAX website where you will be able to download a copy of your credit file/report.
EQUIFAX offers a free 30 day trial to view your credit file but there is a small fee to view your credit report.
Ways to improve your credit score
- Make sure you are registered on the voters roll at your current address.
- Always make prompt payments on all your bills, loans and other credit commitments.
- Check to see if you are linked to anyone who has bad credit. If you share an address or account this could affect your own credit score.
- Avoid moving home a lot. Lenders are more comfortable if you have remained at the same address for a length of time so it may be worth bearing this in mind.
- Regularly check your credit file for errors and fraudulent activity.
- Taking out a credit-builder credit card. This can help improve your credit score but ONLY if you pay off any balances at the end of each month. By doing this you can prove that you are credit worthy. Beware that the interest rate on these types of credit card are much higher than standard credit cards which is why it is important to clear the balance monthly.