Mortgage applications and your credit score

If you’re planning a mortgage application, how can your credit score help you? Well, when you make your application, the lender will use the data & information held on your credit report, as well as other information within your application, to give you a credit score.

This will tell them whether to accept you as a customer or not. Generally speaking, the higher your credit score, the better your chances are of getting your mortgage, lower interest rates, and better deals.

It’s worth noting though that different lenders give different credit scores. Because lenders have different past experiences and expectations, they take different factors into consideration and score things differently.

Checking your credit report before you make the application can allow you to see what the lender would see, and give you chance to update any inaccuracies and correct any information that’s out of date.

This could be things like whether you have kept up to date with payments on other loans and credit cards, the total level of credit that you already have, and how much of that you’re using.

The Experian Credit Score is a guide to help you understand your credit report, and how they way you’ve managed the credit you’ve had in the past might affect applications you’re making now.

It can also help you keep an eye on your progress while you maintain or improve your credit score before you apply, such as making sure payments on credit cards and loans are all up to date.

First time buyers: 5 credit report tips

Buying a home? Your credit report can help you out

Buying a home? Your credit report can help you out

For many first time buyers, the biggest hurdle of all is getting accepted for that first mortgage.

If you’re a first-time buyer or if you can raise no more than a 5% deposit, you can apply for the new Help To Buy scheme to help you buy a new property. Under this scheme the government will guarantee up to 15% of the mortgage. Ministers have said that it could enable 190,000 people to buy a new home, although critics have suggested it could cause a housing bubble.

Last night (27 Oct), Experian’s James Jones appeared on LBC’s Money Hour show to talk about tips for first-time buyers.

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How could ID fraud affect your credit score?

Victims of ID fraud can find that their credit score has been affected. Checking your credit report regularly could help you, as it shows credit activity in your name so you can spot potentially fraudulent activity.
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Don’t become a victim of online fraud

There are a number of things that you can do to protect yourself against online fraud.  Here, real-life victim of fraud Chris tells us his story, and Hannah from Experian explains how we were able to help him. She also explains what steps all of us can take to help protect ourselves from online fraud.

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What’s your year end goal? Alan’s story

Experian are spending 100 days following the fortunes of three people with hopes of achieving their dreams this year. First we met singer-songwriter Emma Ballantine, now we’d like to introduce Alan O’Sullivan.

Alan gave up his job to pursue his lifelong dream of writing his first novel, and this is his story. I spoke to him to find out more about his 100 days challenge and what’s been the driving force behind it.

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Keep your personal information safe online

Protect your personal information online

Protect your personal information online

While most of us are getting better at protecting our personal information online, the amount of illegally traded information online is going up and up – as we discussed last night (20 Oct) on LBC’s Money Hour show.

Listen to The Money Hour show – broadcast on Monday 20 October

An independent study commissioned by Experian has found that more than 110 million pieces of data have been bought and sold by criminals so far in 2014, an increase of 40% from last year alone and 300% on the total amount traded in 2012.*

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Anyone can be a victim of fraud

Who or what is a typical victim of fraud? There’s no one answer. Check out some of Experian’s findings into the demographics of ID Fraud.

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Protect yourself against ID fraud

Monitoring your credit report is a good way to protect yourself against ID fraud, as Kay from Experian explains below.

Experian Credit Expert can help you protect your personal information online. With our victims of fraud team, web monitoring and credit monitoring features, we can help you stay safe online.

Online identity fraud: what you need to know

What is it?  Once criminals have enough of your personal details, they can apply for credit in your name and run up debts without you knowing. Your full name, date of birth, current address and national insurance number, and the passwords and PINs to your bank accounts are among the things they are hoping to get hold of.

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Are your passwords protecting you?

Keeping a close eye on our personal credit information is important

1 in 10 Brits never change their online password…

Are your passwords really protecting you? For the vast majority of account takeovers, the fraudster will need to have gained specific information about you, such as your online log in and password.

On average, Brits have 19 online accounts each, with an average of seven different passwords. However, one in 10 of us never changes their online passwords and one in 20 uses the same passwords for all of their online accounts, many of which are inactive (social networks (26%), email (18%), retail accounts (21%) yet still potentially accessible to fraudsters.*

Take a look at our tips below to make sure that your passwords are working to protect your ID.

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