What to do (or not do) Before Applying for a Mortgage
If you're planning to apply for a mortgage, your credit score will play a major role in what deals you’re offered or even whether you’re approved. Lenders use your credit history to judge how reliable you are with borrowing. A higher score usually means better interest rates and more mortgage choices.
Here are simple, practical steps you can take to give your credit score a healthy boost before applying for a mortgage.
1. Check Your Credit Report
Start by reviewing your credit report with all three major UK credit reference agencies: Experian, Equifax, and TransUnion. Make sure there are no errors or fraudulent activity.
2. Get on the Electoral Roll
Lenders like to see stability, and being on the electoral roll at your current address boosts your score. It’s an easy win and shows you're traceable.
3. Pay Bills on Time
Your payment history is one of the biggest factors in your credit score. Set up direct debits to ensure your bills, credit cards, and loan payments are always on time.
4. Keep Credit Use Low
Try not to use more than 30% of your credit limit. This shows lenders that you're managing your credit well and not over-reliant on borrowing.
5. Avoid Applying for New Credit
Every application leaves a mark on your report. Avoid taking out new loans, credit cards, or finance agreements in the months leading up to your mortgage application.
6. Don’t Close Old Accounts
Older credit accounts show lenders a longer credit history, which can be a positive. Keep them open, even if you rarely use them.
7. Check for Financial Links
If you once had a joint account or credit with someone else, you could still be financially linked. If you're no longer connected, ask the credit agency to remove the association.
8. Consider a Credit-Building Card
If you have a thin credit file or a poor score, using a credit-building card responsibly for small purchases and repaying in full each month can help improve your rating.
how we can help
Getting into the property ladder doesn’t need to be stressful. At Windsor Hill Mortgages, we help clients:
Whether you’re a first-time buyer or a seasoned property developer our team will find you the very best deal.
Our experienced financial, insurance and mortgage advisors take real pride in offering impartial advice, so you’ll have the peace of mind that your best interests are at the heart of everything we do.
Based in Bath, we enjoy getting to know our clients and listening to their requirements we provide the right financial solutions every time.
