Keller Williams UK

Considering a New Essex Home? Start Now and Get a Jump on Improving Your Credit Score

by Nov 8, 2021Mortgages

Buying a New Essex House? Enhance  Your Credit Rating

Are you looking for a new Essex home today? If you want to get one immediately, it is crucial to ensure that your finances are all in order. This article will explore a few tips that can assist you in enhancing your credit score.


Grab A Fresh Copy

Firstly, seek a fresh copy of your credit report from any of the major agencies. Do remember that it is not a good idea to use a search engine to search for “free credit report” or other such terms. That is because several impostor websites hope to obtain your personal financial information. The likes of Clearscore and Experian are reliable and market leaders.


Clean Up Anything Outstanding

With your copy of the credit report, you must go through each line and identify the various current and outstanding accounts in the report. If any balances are owed, they must be in order and demonstrate how much you owe. Moreover, always flag mistakes or older debts that have been paid in full. If your credit report has something that shouldn’t be on it, get in touch with the reporting agency and inform them. When required, they will help you challenge the issue.


Pay Down Those High-Interest Debts

Lastly, prioritise your outstanding debts, which will assist you in paying them off quickly. The essential debt payments include your mandatory minimums, which must be paid if you want to avoid being sent to a collection agency. Try paying off your debts in order of the highest interest rates first. If you pay them off quicker, your interest payments will be lesser over time. Furthermore, you can make use of that extra cash for paying your debts down further.

These are just some of the steps that can be undertaken to start improving your credit score.

Once you are ready to begin discussing a mortgage for your new home, get in touch with us. We will be glad to assist you with a mortgage offer that best aligns with your needs, budget, and credit.

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