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Low Credit Score
If you’ve got a low credit score, then it’s likely to have an impact on your ability to get a mortgage. We can help you. You can find out more about your credit score here:
What is a credit score?
Your credit score is generated from information held in your credit report, or your credit file.
Your credit score can differ between lenders and, even between different products from the same lender. This will depend on the criteria used in assessing you as a potential customer.
The information held on your credit file and your credit application might be used to decide:
- Whether to lend to you.
- How much to let you borrow.
- How much interest to charge you.
- The most recent information on your file will have the most impact, as lenders will be most interested in your current financial situation.
If your credit report shows a few missed payments, you might be charged higher interest by lenders or might not be eligible for some loans. The reason for this is that lenders believe they might be taking a higher risk when lending to you.