Your credit report is essentially your credit history. When you apply for a mortgage the lender will normally check your credit report and use the information, along with their own policies, to assess whether you are likely to repay what you owe on time. The information it contains plays a big part in determining whether or not you can get a mortgage.
The following credit reference agencies can provide you with a copy of your credit report:
Key things to be aware of when checking your report:
- You can request a copy of your credit report from any of the agencies online or by post. Under the Consumer Credit Act, you have a right to obtain your full statutory credit report at a cost of £2 per credit reference agency.
- As well as the £2 statutory report, CallCredit, Equifax and Experian all offer free online credit reports – but only as temporary introductions to their paid-for services. Noddle do not offer free trials, instead their service is free.
- If you sign up for a free trial and don’t cancel before the end of the free period you will start being charged for access.
- Different lenders use different credit reference agencies, so if you spot a mistake on any of your credit files, it’s important to get this rectified across all three (Noddle is covered when you make the correction with CallCredit).
- People you are financially linked to can also impact your credit score, and so if you’re applying for a joint mortgage for example it may well be worth both parties checking their score
If you’d like us to help with the process, just give us a call. Getting ready for a mortgage can take time, and we’d like to help wherever we can. When the time is right for you, we’ll assist in any way to make your mortgage process as easy as possible, from start to finish.
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