How should I go about applying?
Before you start applying for a mortgage, it would be very sensible to actually find out what your credit rating looks like.
You can do this by approaching the big three credit agencies in the UK, Experian, Equifax and Callcredit. Though they all offer relatively expensive reports, they also typically offer 30 days free (as long as you remember to cancel the subscription).
As an alternative you are legally able to request a copy of your statutory report from each agency for £2 each. It may be worth checking more than one as they calculate their scores differently, but it is not necessary to check more than one unless you think there is a problem. Check that the information is correct and then think about what actions you might be able to take to improve your score before you make your mortgage application.
You may decide that it will be better to wait until your credit history has improved, allowing you to access more affordable mortgage deals. Alternatively you could take action to improve your credit rating while you’re saving for your deposit. That way, you may have more options available when you actually make the mortgage application.
Or if you want to see the latest mortgages, use our mortgage comparison service today.