Hey everyone,
If you or anyone you know is thinking of applying for credit in the near future (that's all of us then), it would be wise for them to apply for their own personal credit file. You can apply for this by using a number of websites but the two most recognised in the industry are;
www.experian.co.uk - more lenders use this service and the information is generally more reliable.
www.equifax.com - this is used by fewer lenders, however, there can be information on Equifax that doesn't feature on Experian and vice versa so the ultra cautious would apply for both.
There can be some really helpful information included in these reports that will boost your chances of obtaining credit at the most preferential rate of interest (meaning we can afford to go back to shopping at Waitrose).
For instance, remember those credit cards you paid off but didn't cancel? You will have a credit limit of available funds on these cards that new lenders will take into consideration when you apply to them, so if you don't need them cancel them!
Also, you can check the voters roll information and make sure that there isn't anybody registered at your address that shouldn't be! Old flat mates, troublesome siblings or even the dreaded ex!! (AAGH!)
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If you need any help reading your credit file or interpreting the information, or, if you want advice on how best to improve your credit file, please don't hesitate to contact Ian Green at Tudor Direct independent mortgage brokers who cover the Richmond upon Thames area.
