Have you ever wondered how a Bank or Mortgage lender decides whether or not to offer you a mortgage?
One of the areas they will ALWAYS check is your credit report (or file) to ascertain what level of credit risk you are likely to expose them to. Your credit report will list all of your credit accounts both current and expired over the previous six years. It will show if you have made your repayments on time and in full or if you have missed payments or defaulted on an agreement. It will also show details of any people you are financially linked to, so anyone you may have entered into a joint credit agreement with. Your credit report also records your full name and date of birth, whether you are on the electoral register, your current and previous addresses. Your credit report does not carry other personal information such as your salary, religion or any criminal record.
The main problem for consumers is that there are four credit agencies and not every lender checks every credit agency. Whilst one may show that missed credit card payment from 3 years ago, others might not!
When submitting a mortgage application, it is useful to have sight of a client’s credit file. Fortunately, there is an easy way for us to check all four credit agencies at the same time – effectively allowing us to have sight of all the information that a mortgage provider could see which ultimately means we are better sited to source the most suited deal for your circumstances!
Click HERE to obtain your FREE* credit report!
*You will have to sign up initially for a free 30-day trial, but you can cancel at any time simply by logging into your account and sending them a secure message, by phone or by e-mail…above all else, no-one is going to try to sell you something! If you do decide to retain the service after your free trial ends it will only cost you £14.99 a month!
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