More preferential rates/terms

When you apply for credit, lenders use your credit score to build up a profile of your financial responsibility, assessing your creditworthiness and affordability. 

A good credit score signals that you have a history of responsibly managing your finances and repaying debts, making you a low-risk borrower in the eyes of lenders. As a result, you’re more likely to be approved for a mortgage, loans, and credit cards. 

You may also be offered lower interest rates and better terms, meaning you’ll save more money in the long run. If you’re applying for a mortgage and want to know how credit can impact your application, click here.

Getting ahead of the competition

A good credit score reflects positively on your financial management skills. This can potentially give you an edge over other candidates when it comes to applying for a job or rental property.

Maintaining your credit score

There are a few steps you can take to improve or maintain a good credit score. You’ll need to make sure you’re making timely bill payments, keeping credit card balances low, and avoiding excessive debt. Regularly monitoring your credit report for errors and fraudulent activities is also good practice to safeguard your score.

A positive credit history is essential for achieving financial success and stability. By being responsible with your finances and cultivating good habits when maintaining your credit score, you can pave the way to a more secure financial future.

Get in touch

If you’re ready to take the next step in your homebuying journey and want to discuss your affordability when it comes to getting a mortgage, contact our friendly team of advisers today.

Important information

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

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