Credit rating assistance

Deadpoolbat

Hello, im sure this has been asked many time but i need help with my credit rating. I cant seem to get it to move up. I have one credit card and havent missed any payments including direct debits etc. I have also seen my credit rating go down a tiny bit and can not see any reason why. Looking to see if any tips as i am looking to buy a house and extremely worried.

Thanks

m4rc

You need to stand on one leg in the garden around 3am dressed as a wolf and put your fingers in your ears as you howl at the moon, I find that usually helps.


Or you could just ignore the rating/score as its all made up so people like you worry and then pay the credit reference agencies to 'help increase your score'.

All you have is a credit history, that's the history of how well (or badly) you manage your financial affairs. So you need to be on the electoral roll, have a contract mobile, be paying any bills on time, have a credit card or three and don't just pay the minimum amounts. Over time if you do these things you build a history, if there is no bad stuff then that part of the checks will be fine for a mortgage lender. They are not out to trick or trap you, they want to know you don't have loads of debts you can't afford, credit limits you can't stick to, payments missed, CCJs, defaults and more.

Then they need to know about your job, your income, how secure it is, can you afford the payments.

Then they want to know all about your outgoings, if you have twelve pounds left come pay day then you can't afford a mortgage. They want to know how much you spend on everyone.

Lastly hey want to know the property they are buying with you is worth the money and not going to sink, fall over or something else terrible.

If those 4 main things check out you should get a mortgage, it's not some secret society that only lends to those who know. The credit score/rating stuff we joke about because everyone is the same as you and panicking about it, but really it's simple, just manage your financial affairs really really well, don't apply for loads of credit, pay your bills on time, never minimum amounts, and that's about it.

And don't sont don't pay anyone to give you a made up credit score number, if you want one I'll sort it for a fiver, meet out back in ten, ask for Dave....

Good luck