When you make a mortgage application, the lender works out a credit score. This helps them decide if they think you are a risk worth taking. Are you going to be a reliable and responsible borrower and will repay the new proposed mortgage debt? Generally, a higher score means you are seen as a lower risk. The more points you score the more chance you have of being accepted and obtaining a better rate.

Looking at your credit report will give the lender an insight into your credit history and will show  how much you owe on credit cards, if you’re registered to vote, and if you’ve missed payments in the past. They will put that all together and give you a credit score of their own.

All lenders don’t think the same way, they may have different ways of making their lending decisions. But all of them will look at some key factors to help them decide. These include:

• information on your on your credit reportincluding your credit history and public record data (e.g. County Court Judgements and Individual Voluntary Arrangements)
• information you’ve given to them on your application form.
• information they may already hold on you, for example if you have a bank account with them.
• their own lending policy, which may be different from those of other lenders.

The exact score you’ll need varies from lender to lender as their attitudes to risk can vary. Consequently some will require higher scores than others.

Below are some useful links for you to obtain your credit profile.

https://www.experian.co.uk/

https://www.equifax.co.uk/