Do all mortgage lenders credit score?
Not all mortgage lenders credit score, some just credit search. This is particularly useful if you have just moved home, or haven’t borrowed any money recently.
Why do credit scores matter?
Your credit score or credit rating is a number between 1 and 999. Although some agencies rank you in one of 5 brackets, Poor, Fair, Good, Very Good and Excellent. Lenders will use this score to calculate the risk of lending to you. The higher your score the lower your risk.
How to find out your credit score
You can obtain your credit score using one of the main credit reference agencies.
TransUnion (noddle): https://www.noddle.co.uk
Read a blog post about how to get a copy of your credit file.
Reasons you may have a low credit score
- You are not on the electoral register. Mortgage lenders want to know where you have been living so they can fully check your credit history.
- You have just moved home.
- You have returned from living abroad.
- You have missed payments on a mortgage, credit card or loan agreement.
- You haven’t borrowed any money recently.
- Someone you have joint credit with has a low credit score.
Mortgage lenders that don’t credit score
We have a number of lenders than don’t credit score. Their criteria can be particularly useful for mortgage customers that don’t fit standard high street lenders.
The lenders on our panel that don’t credit score are:
Monmouthshire Building Society
Marsden Building Society
Family Building Society
Newbury Building Society
Furness Building Society
Tipton Building Society
Progressive Building Society
Ipswich Building Society
Melton Building Society
Hinckley & Rugby Building Society
Mansfield Building Society
Teachers Building Society
Want us to do the hard work for you?
Call us on 0330 400 4242
You may also be interested in:
How do you get a copy of your credit file?
Virgin Money to accept missed payments
Why are mortgage applications declined?
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE.