Lenders use a scoring method based on points attributed to various pieces of information provided by an applicant and your credit profile held at credit reference agencies.
What credit score is needed for a mortgage?
Can You Get a Mortgage with No Credit History?
Each lender has its own score that has to be satisfied in order to qualify for the loan. Do not assume that because a Credit Reference agency says you have an excellent score, that another lender will share that opinion. The reverse is also true.
Near Prime Mortgages: What You Need to Know
Getting turned down for a mortgage can happen to anyone. Whether you’re looking to buy your first home, move, or refinance an existing loan, credit issues from your past can …
What is a subprime mortgage?
If you’re reading this, chances are you’re on the hunt for a new mortgage, but maybe your credit history has seen better days. Don’t worry. This is quite a common …
How to get a joint mortgage if one of you has bad credit
Getting a mortgage when one person has bad credit Getting a mortgage when one applicant has bad credit is still possible, although, it’s not always plain sailing. Many mortgage lenders …
What is a soft credit search?
What is a soft credit search and how does it work with a mortgage? We explain how credit searches work and why a soft search is so useful.
What credit score is needed for a mortgage?
It is a common misconception that you must have a minimum credit score to be accepted for a mortgage. Here’s everything you need to know.
How long does an IVA stay on your credit report?
An IVA will show on your credit report and thus affects your ability to apply for credit during the IVA period. This article looks at what an IVA is, how it works and how long it stays on your credit report.
Boost your credit score to improve your chances
IF YOU ARE PLANNING TO BUY YOUR FIRST PROPERTY, ONE OF THE INITIAL STEPS IS TO APPLY FOR A MORTGAGE. This process requires an assessment of your creditworthiness by lenders. …
