Check your credit report before you apply for a mortgage
Your credit file is one of the first things a lender looks at. If there’s a mistake, an old address or a missed payment you’d forgotten about, it’s far better to find it now than to have a lender find it for you. I’m Charles Calvert, and I’ll help you make sense of what’s on your file and which lenders are likely to suit you.
Please note: Checkmyfile is a third-party service, not part of Easy Mortgages. Checkmyfile’s terms: a 7-day free trial for new customers, then £14.99 a month, cancel anytime. Easy Mortgages may receive a payment from Checkmyfile if you sign up through this link. It doesn’t cost you any more. You don’t need to use Checkmyfile to get advice from me.
Why it matters to know what’s on your file
Most people have never looked at their credit report. Many find something they didn’t expect. Finding it before you apply gives you time to put it right, or to choose a lender that’s comfortable with it.
Surprises can mean a decline
A mistake, a forgotten phone contract or a link to someone else’s finances can lead to a lender saying no, or offering a higher rate, even when you can afford the mortgage.
Each application leaves a mark
A full mortgage application usually leaves a “hard search” on your file that other lenders can see. Several applications close together can make lenders more cautious, so it pays to get it right first time.
Lenders don’t all use the same agency
Some lenders check Experian, some Equifax, some TransUnion, and some more than one. Each agency can hold different information, so a clean report with one doesn’t guarantee the others are the same.
All three credit reference agencies in one report
Checkmyfile brings together information from all three main UK credit reference agencies, so you can see what each one holds about you side by side. That gives you more detail than a report from a single agency. Checkmyfile describes it as “the UK’s most detailed online credit report”.
- Spot differences between the agencies, such as an account that shows up with one but not another
- Check you’re on the electoral roll with each agency
- See who you’re financially linked to
- Send it to me before our call, so we can talk about your real situation
Please note: Checkmyfile is a third-party service, not part of Easy Mortgages. Checkmyfile’s terms: a 7-day free trial for new customers, then £14.99 a month, cancel anytime. Easy Mortgages may receive a payment from Checkmyfile if you sign up through this link. It doesn’t cost you any more. You don’t need to use Checkmyfile to get advice from me. You also have a legal right to see your basic (statutory) credit report from each agency directly, at no cost.
Why lenders look at your credit file
A mortgage is a big, long-term loan, so lenders want to see how you’ve handled credit in the past. Your file helps them decide whether to lend, how much and at what rate. Each lender has its own rules, which is why one lender might decline you while another is happy to help.
What’s on your file
- Credit cards, loans, car finance and mortgages
- Mobile phone contracts and some utility and broadband accounts
- Your payment history, including any late or missed payments
- Current and past addresses, and the electoral roll
- Defaults, CCJs, IVAs and bankruptcies
- Who has searched your file, and anyone you’re financially linked to
What’s not on your file
- Your salary or savings
- Your criminal record
- Council tax, parking or speeding fines (unless they become a court judgment)
- Your partner’s or family’s credit, unless you have joint credit together
Lenders will still check your income and outgoings separately.
What to look for on your credit report
Mistakes
Accounts you don’t recognise, wrong balances, or payments marked late when you paid on time. Wrong dates of birth or misspelt names matter too.
Old addresses
Make sure past addresses are right and that your current address is showing. Accounts still registered to an old address can cause confusion.
Electoral roll
Being registered to vote at your current address helps lenders confirm who you are. If you’re not, you can register at gov.uk.
Financial links
A joint account or loan links you to that person. If you’ve split up with an ex and no longer share any credit, you can ask the agencies to remove the link.
Missed payments
Late and missed payments usually stay on your file for 6 years. Check they’re accurate and note the dates. Recent ones tend to matter more to lenders.
Defaults & CCJs
These also usually stay for 6 years. If a debt has since been paid, check it’s marked as satisfied or settled.
Credit utilisation
This is how much of your available credit you’re using. Balances that are close to your limits can make lenders more cautious.
Searches
Hard searches from credit applications are usually visible to lenders for about 12 months. Soft searches, such as checking your own file, aren’t seen by lenders.
How to fix errors on your credit report
Contact the lender
The quickest fix is usually to ask the company that reported the information to correct it. They send updates to the agencies.
Raise a dispute
If that doesn’t work, raise a dispute with the credit reference agency showing the mistake. They’ll look into it with the lender, usually within 28 days.
Add a note
If the information is correct but there’s a reason behind it, such as illness or a job loss, you can add a short “notice of correction” that lenders can read.
Check all three
A fix with one agency doesn’t always carry across to the others, so check each report again afterwards. Updates can take a few weeks to show.
If a complaint about a credit reference agency or lender isn’t resolved, you may be able to take it to the Financial Ombudsman Service.
Quick tips in the months before a mortgage application
- Check all three credit reports early, ideally 3 to 6 months before you apply, so there’s time to fix anything
- Register on the electoral roll at your current address
- Pay every bill on time, and set up direct debits so nothing slips
- Try to keep credit card balances well below their limits
- Avoid applying for new credit, such as loans, cards or car finance, before your mortgage
- Close old accounts you don’t use only if it makes sense for you; ask me if you’re unsure
- Remove financial links to anyone you no longer share credit with
- Speak to a broker before applying, so you don’t pick a lender that’s unlikely to accept you
These steps can help lenders see an accurate picture of you, but no one can guarantee a particular credit score or mortgage approval.
Bad credit? I can still help
Missed payments, defaults or CCJs don’t always mean a mortgage is off the table. Some lenders specialise in helping people with a less-than-perfect credit history, often depending on how recent the problems were and whether they’ve been settled. I’ll be honest about your options, including if waiting a little longer might get you a better deal.
How a review with me works
Look at your file
If you can, check your credit reports first. If you’re not sure what you’re looking at, that’s fine; we’ll go through it together.
A no-fee call
Book a time that suits you. We talk about your plans, your income and anything on your file that worries you.
I find suitable lenders
I look for lenders whose criteria fit your situation, before any application goes in, to reduce the risk of an avoidable decline.
You decide
No pressure and no obligation. If you go ahead, I handle the application and keep you updated. Any fee is explained clearly before you commit.
Mortgage and credit advice in Fareham and across Hampshire
Easy Mortgages is based at 10 Merryfield, Fareham. I help first-time buyers, home movers and people remortgaging across Fareham, Portchester, Locks Heath, Whiteley and the wider Hampshire area, including people whose credit history isn’t perfect. We can talk by phone, video call or WhatsApp at a time that suits you, or face to face if you prefer.
Your credit report questions, answered
Does checking my own credit report affect my score?
No. Checking your own report is a “soft search”. It isn’t visible to lenders and doesn’t affect your credit score, so you can check as often as you like.
Which credit reference agency do mortgage lenders use?
It varies. UK lenders use Experian, Equifax or TransUnion, and some use more than one. Each agency can hold slightly different information about you, which is why it’s worth checking all three before you apply.
How long do missed payments stay on my credit file?
Usually 6 years from the date they were reported, even if you catch up afterwards. Defaults and CCJs also usually stay for 6 years. Many lenders look most closely at the last 2 to 3 years.
How long does a hard search stay on my file?
Hard searches from credit applications are usually visible to other lenders for about 12 months. One or two are normal, but lots in a short time can make lenders more cautious.
Do I have to pay to see my credit report?
No. You have a legal right to see your basic (statutory) credit report from each agency directly, at no cost. Paid services such as Checkmyfile bring all three agencies together in one place with more detail and ongoing updates. Checkmyfile’s terms are a 7-day free trial for new customers, then £14.99 a month, cancel anytime. Easy Mortgages may receive a payment if you sign up through our link. It doesn’t cost you any more.
Will being on the electoral roll help my mortgage application?
Being registered to vote at your current address helps lenders confirm your identity and address, and many lenders expect to see it. You can register at gov.uk. It can take a few weeks to show on your credit file.
How do I remove a financial link to an ex-partner?
If you no longer have any joint credit with them, such as a joint account or loan, you can ask each credit reference agency for a “notice of disassociation”. Any joint accounts need to be closed or moved into one name first.
Can I get a mortgage with bad credit?
Often, yes, depending on what’s on your file, how recent it is and whether it’s been settled. Some lenders specialise in this area, though rates can be higher. There are no guarantees, but I’ll give you an honest view of your options. See bad credit mortgages.
Don’t take my word for it
Know where you stand before you apply
Check your credit reports, then book a no-fee call with me. We’ll go through what lenders are likely to see and find the right next step for you, whether that’s applying now or tidying things up first.
Checkmyfile is a third-party service. Checkmyfile’s terms: a 7-day free trial for new customers, then £14.99 a month, cancel anytime. Easy Mortgages may receive a payment if you sign up through this link. It doesn’t cost you any more.