Top tips to Improve your Credit Score from a Mortgage Broker
A computerised decision tool known as “credit scoring” is often used by major high street banks to screen and reject unwanted mortgage applicants, and normally includes a credit search.
The verdict is based on the Lender’s own past experiences and allocates points on various aspects of your profile accordingly.
We are not privy to the exact workings but it would look at items such as past credit conduct, closeness to credit limits on credit cards/overdrafts, income, age, nature of employment, voters roll history, mortgage experience etc.
There are ways that the Credit score can be improved through “good practices”, and to watch a video in this regard see below
Please also find below link to a recent article talking about Soft and Hard Credit Searches by Mortgage lendershttps://www.nicheadvice.co.uk/who-runs-a-soft-and-hard-credit-checks-at-aip/