improving credit rating from 4/5

first_time_buyer_London

I have recently checked my credit report / rating after registering on Noddle & Call Credit for FREE!

My score is 4/5 and I have been advised by Call Credit that lenders / mortgage brokers don't see this score (as they have there own point systems) however I still want to improve my score to 5/5 (100%)?

Can anybody advise me how I could do that please?

I understand it is based on individual circumstances but I was just wondering if any one can is in the same or similar position and knows how to do it?

I'm guessing it's not 5/5 as even though I have never been in debt and paid everything on time I have never had a loan or mortgage so I haven't shown them that I can pay money back...

My circumstances are that I am on the electoral roll and I have had:


0 Credit / store cards
0 Loans

0 Mortgages
0 Court Court Judgments
0 Bankruptcies
0 Financial Relationships

I will probably be applying for a mortgage at some point in the near future and want to get my credit rating & report the best it can be.



Many thanks in advance

Best regards

Thrugelmir

Focus on building your savings than worrying about credit report scores. The bigger the deposit you accumulate the easier you'll find it to get on the property ladder.

callmechar

Oh my...mine has dropped from 5/5 last month to 3/5 this month and I have no debts and have just cancelled a credit card

kingstreet

At best, the scores given by the CRAs are indicative only and fail to take into account important issues the lender finds essential in establishing whether to lend to someone.

For example, you can have the highest possible score and be declined for a mortgage because you have no income.

You can have a low score, but still be accepted because other parts of your financial make-up, unknown to a CRA, are strengthening your overall case.

These scores are best ignored. If you have a clean financial history and fit the lender's criteria there's every chance you'll be accepted.