Why Your Credit Score Matters
Your credit score influences which lenders will accept you and what interest rate you'll pay. Even small improvements can save you thousands over the life of a mortgage.
Check Your Credit Report
Start by checking your credit report with all three credit reference agencies: Experian, Equifax, and TransUnion. Look for errors - wrong addresses, accounts that aren't yours, or debts marked as unpaid when they're settled.
Use ClearScore (Equifax), Credit Karma (TransUnion), and Experian's free service to check all three agencies without paying.
Quick Wins
Some changes can improve your credit score relatively quickly.
Fast ways to boost your score:
- Register on the electoral roll at your current address
- Pay off credit card balances (or reduce to under 30% of limit)
- Cancel unused credit cards (or keep one for history)
- Fix any errors on your credit report
- Make sure all accounts show your current address
Longer-Term Improvements
Some credit improvements take time but are worth the wait if you're not in a rush to apply.
Medium-term strategies:
- Pay all bills on time for 6-12 months
- Don't apply for new credit in the 6 months before your mortgage
- Keep old credit accounts open (length of credit history matters)
- Avoid payday loans completely
- Consider a credit builder credit card (used responsibly)
What to Avoid
Some things will actively hurt your credit score or mortgage chances.
Things to avoid:
- Multiple credit applications in a short period
- Gambling transactions on bank statements
- Payday loans (even if repaid on time)
- Going overdrawn without an arranged overdraft
- Missing any payments