A credit report is basically a report card on your credit history & how you manage your finances. It's a historical record of how and when you pay your bills, how much debt you have, and how long you have been managing credit accounts.
This includes details of credit accounts you’ve held (and whether or not you’ve kept up with repayments), your current and previous addresses, and any financial connections – for example, the name of the person you share a joint account with.
Credit reports are compiled by commercial organisations called credit reference agencies. There are likely to be three slightly different versions of your credit report, because lenders don’t always share the same information with all three major credit reference agencies - Experian, Equifax and TransUnion (formerly Callcredit).
Every lender in the UK has their own unique criteria regarding who they will accept for a mortgage and who they won’t. The differences in mortgage criteria may sometimes be subtle, yet they can be the determining factor between being accepted for a mortgage and being declined.
All mortgage lenders rely on the information from the credit reference agencies to determine whether or not you fit within their criteria.
We have a very good understanding of the lending criteria and will want to look through your free credit reports in-depth to help us determine which lenders may or may not accept you. Getting your free credit score is just one step towards understanding which lenders will accept you and which won't. It’s important to bear in mind that different lenders use different credit referencing agencies to base their decision on. As a general rule, they don’t share their information with each other, which means that some things will appear to one lender that won’t appear to another. Having access to all three gives us the best chance of finding you a mortgage and getting you the best deals out there. If you're looking to buy a new home and live in either Chesterfield, Sheffield or Nottingham then we can help you, face to face with understanding all the detail and give you the best advice for your next mortgage.
We use a credit report that pulls together all the referencing data that exists about you into one report rather than having to faff about and sign up to all 3. Click the button below to get access to all the information that the credit reference agencies hold about you, also it's free for 30 days!
It's important to know what credit reference agencies hold about you and to make sure it's accurate
Terms & Conditions
Lewis Shaw (FCA registration number 927754) trading as Shaw Financial Services is an appointed representative of King Mortgages Ltd which is authorised & regulated by the Financial Conduct Authority, FCA registration number 803561.
There may be a fee for arranging a mortgage. This will typically be £499.
Think carefully about securing other debts against your home
Some forms of Buy To Let mortgages are not regulated by the Financial Conduct Authority. The guidance &/or advice contained in this website is subject to the UK regulatory regime and is therefore restricted to consumers in the UK. As with all insurance policies, conditions & exclusions will apply.
YOUR HOME (OR PROPERTY) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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