Before applying for a mortgage, it’s always a good idea to check your credit rating, whether you believe it’s bad or not.
You can check your credit reports online, here are some links to credit check companies:
These credit reports will give you an overall credit score which the lenders will use to decide if you are a safe bet to lend money to. There are many reasons for a poor credit history and these can be:
1. Missed credit card, loan, hire purchase or mortgage payments.
2. Being declared bankrupt or having a debt management plan.
3. Having a County Court Judgement (CCJ) in your name.
4. Errors on your credit record.
If you find that you have a less than perfect credit rating, don’t panic. You can work to improve this, or if you need to get a mortgage in the very near future, there are lenders that will consider your application.
Please note the content of this blog is for guidance purposes only and does not constitute for professional advice. Contact us today at email@example.com or by calling 01473 216950.