Have you ever wondered how Mortgage Lender decides on whether or not to offer you your mortgage?
Besides their own way of assessing you and your affordability, one of the main tools they all use is checking your Credit Report. Your credit report tells them all about your credit history and the quality of your Credit Score will help them with assessing on how much of a risk lending to you will be if any.
Your Credit Report is a summary on how you manage your finances. It will list all active and closed credit accounts for the past six years. It will show if you make your repayments on time, show any missed payments or defaults, whether you are registered on electoral roll, whom you are financially associated to, if you’ve declared bankruptcy or been given a CCJ.
Which is the best Credit report?
There is no simple answer to this as each credit reference agency such as Experian, Equifax, Transunion or Crediva holds different information about you. So, rather than comparing them all separately get your FREE Credit Report now that combines details from all four of these agencies.
Obtaining Credit Report is an ideal way to see what information is held about you across all of these Agencies. It will help tremendously when researching for your mortgage options in recommending you the most suitable lender and at the same time, it gives you the opportunity to make changes if some information is incorrect.
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