The Financial Blog

Experian a UK credit reference agency offers valuable advice to remortgagers when it comes to their credit report.

Consumer Education Manager at Experian, James Jones, comments: “More than a million people will be coming to the end of fixed-rate mortgage deals this year, and Experian is already seeing increasing numbers of people checking their own credit report before applying for credit. Quite understandably, consumers are taking much more interest in their credit status.”

I thas never been more important for people looking to remortgage to ensure their credit rating is in good order, especially as lenders are tightening their lending criteria and reducing the amount of mortgages available, you need to make sure your application is accepted, first time.

Experian has put together the following basic guide to sucessful remortgaging;

• Make sure you’re registered on the electoral roll at your current address - not being registered could put a dent in your credit score
• Make sure past debts and arrears are paid off and add a note to your credit report if you got into difficulties for a good reason
• Close cards and other accounts you no longer use - lenders may take account of any available credit even if you are not using it
• Check your financial associations (people you are linked to on your credit report) and query any associations that no longer apply
• Query any unnecessary credit searches (quotation, enquiry and ID check searches do not affect your credit score)

If you’d like to check out your credit report visit www.experian.co.uk today.

Also don’t forget to compare mortgages using a personal finance comparison website like Moneysupermarket.com, Moneyexpert.com, Uswitch.com or Moneyextra.com if you’re looking for the best mortgage rates.

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This entry was posted on Wednesday, April 9th, 2008 at 3:00 pm and is filed under Mortgages. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.