Credit Issues?

A Poor Credit Rating can be a Real Headache

Every Situation is Different So Talk to Us First

You may have simply had an issue with a mobile phone provider, missed a few credit card payments, had a County Court Judgement or you may be a discharged Bankrupt. These may have been caused by a divorce or separation or a business problem.

Whatever the cause of these problems, a poor credit rating can be a real headache when trying to get a mortgage.

The good news is, we have Lenders that may be able to help!

Get your Credit Report

A great place to start is to apply for your Credit Report.

Most Lenders perform a credit search on Experian, so it would be helpful if you could obtain a copy of your full Experian Report.

This will show your credit commitments and payment history for the last 6 years.  It will also show any County Court Judgements and information on your financial associations with other people.

In the meantime, here are a few tips which may help you improve your credit score:

  • Avoid making lots of applications for credit – this will reduce your credit score
  • Electoral Roll – make sure that your information is correct and up to date
  • Consider your partner’s debt – buying with a partner will mean their credit history gets taken into account, as well as yours
  • Repair your credit history – establish a pattern of consistent payments and responsible credit usage
  • Reduce your credit card debt – this will help improve your score
  • Present as a lower risk – apply when you have a stable income and try to offer a high deposit, which may mean looking at cheaper properties
  • Be honest – mortgage lenders will conduct thorough searches, and trying to hide adverse credit will look bad
  • Have an explanation – lenders will be interested in why you got into financial trouble and what has happened since then
  • Timing – blemishes on your record could be seen as less serious over time, especially if your financial situation has improved
Excellent service as always - many thanks Debbie and Team
Miss B
London SW6