General credit advice

joeyoung1990

Hello,

New to this forum and hoping you members can give me a helping hand.

I have a pretty poor credit rating - 604 to be exact. I have a mortgage and 5 open accounts which haven't had any missed payments.

A while back, 4 years roughly, I missed a few payments on a mobile phone account (3) on a couple of occasions. But these have been settled and were only marked as 'orange' not 'red' on my Experian credit report (as you can tell I am a bit new to all this).

It states on my Experian credit report that I am not registered on the electoral roll with my current address, I am pretty certain I did this a few months back so I am going to phone my local council tomorrow to query the issue.

I have no credit cards but like I said I have kept up to date with my payments and paid of various other loans during the time I had missed payments roughly 4 years ago.

I have a joint bank account with my partner and she is named on the mortgage and she has a poor credit rating, if any, as far as I know,

I am looking to improve my credit rating as fast as possible (like everyone else) as I am looking to re-mortgage in August and have only just found out my credit rating is so poor and could really do with getting a better interest rate this time round. I think it is roughly 4.5% at the moment.

If anybody is willing to point me in the right direction and give me a few pointers it would be greatly appreciated.

Thank you in advance.

Joe

DCFC79

I can't remember how long it takes for you to be on the electoral roll but you can google for a more definitive answer.

As for your credit rating of 609 or whatever (as you can see I don't care for them) it's not seen by lenders. I would register with the other 2 agencies as lenders can use a mix a mix of 3 as they choose. If you like ask whoever gave you the score of 604 to offer you a mortgage since they know more about you lol.

What Apr you get depends on many factors from what's on your credit file to what info you provide on the application. Some lenders may even have they're own target market they accept as customers.

Helvetica_Van_Buren

joeyoung1990 wrote: »

Hello,
I have a pretty poor credit rating - 604 to be exact. I have a mortgage and 5 open accounts which haven't had any missed payments.

joeyoung1990 wrote: »

I have a joint bank account with my partner and she is named on the mortgage and she has a poor credit rating, if any, as far as I know,

Again, credit scores are meaningless for the reasons stated above.

joeyoung1990 wrote: »

I am looking to improve my credit rating as fast as possible (like everyone else)

I assure you not everyone is looking to improve their meaningless score.
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Lenders make their decisions based on the recorded history of you've managed your financial accounts within your credit report along with other info such as salary and marital status; they do not make public their lending criteria. It isn't based on the number that Experian (or any other credit reference agency) give you.