When you apply for a mortgage (or any sort of credit) the lender will usually 'credit score' your application. This helps them decide whether to accept your application, the amount of money they're prepared to lend to you and what rate of interest you'll pay.
Credit scoring works by awarding points based on your circumstances. Each lender has their own scoring system. You'll generally score more points if you've been in your job longer, own your own home and have paid all of your loans on time in the past. Having a good credit history will improve your chances of getting the best rate mortgage.
You can get your individual credit report by contacting:
This will help you understand your credit file and what aspects lenders use to make a credit decision.
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Your home may be repossessed if you do not keep up repayments on your mortgage
Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.