This will depend on a number of things – the type of mortgage you go for (fixed-rate or variable rate, repayment or interest-only), the amount that you borrow, but most importantly, the interest rate on the mortgage. So it’s going to be important to make sure that you find the best deal for you.
It’s important that your credit report includes your electoral roll details because lenders use this information to help confirm your name, address and residential history.
Not being registered could therefore cause a delay when you apply for credit, while the lenders confirm your details some other way. With some lenders it can even hurt your credit score, and some applications may even be refused.
Banks and building societies usually need to know that the information about you is up to date before they are willing to offer a mortgage, a loan or any other form of financial account. Maintaining your presence on the electoral roll is therefore particularly important.
If you are unsure whether you are registered or not, or would like to register for the first time, you could visit the About My Vote website, type in your home postcode and complete your local authority’s form.
Shopping habits are changing. In this day and age many of us are after making shopping savings whenever we can, without having to skimp on quality – from BOGOFs to voucher codes, from short-term offers to hidden web-only deals.
Discount shoppers are now just as likely to be two-income families in leafy suburbia, with all types of consumers beginning to look harder for value.
Spring is *finally* now in the air, which means for many of us thoughts are turning to summer holidays, days out – and numerous other ways to get spending.
You may have lower heating bills, but are they offset by a higher spend on summer merriment? The days are longer, and there’s a lot of temptation to make hay while the sun (literally) shines.
If you tend to rush headlong into the warmer months without much of a thought about how you’ll finance your fun, it’s a good idea to pour cold water on that hot head and start thinking ahead – and take control of your finances. And one way of doing that is to understand what’s on your credit report, so you can see for yourself the steps you can take to improve it.
When it comes to personal finance, many Brits believe in starting young. Research from 2014 showed that nearly a quarter of parents give their three-year-olds pocket money – and nearly half of these lucky tots get up to £1 a week. By the time their kids reach 15, more than 90 per cent of parents provide an allowance, giving an average of £7 to £8 a week.
Well, that’s if they remember – nearly a third of parents said they sometimes forgot to dish out the pocket money and almost one in five confessed to rarely handing it over.
I am applying for a mortgage and would like to know when my credit score will be updated after I pay off my credit cards. Is it possible to get it updated as quickly as possible?
Suzanne, East Finchley
I watched the BBC Breakfast News this morning and a man from Experian was on there, discussing an interesting report that Experian created about UK debt by region. There was also a map of the UK shaded to indicate the regions that had debt and he also mentioned age groups within those regions. I have searched the web and BBC as I would like a copy of the report, is it possible to come back to me as to whether the report is available or where I can find. .
Thank you, Emilie, Hythe