Julie Lewis’s Christmas goal is to decorate her spare room, so that her identical twin grandsons can stay and play there over the festive period. Her story makes her the third and final winner of Experian’s #100DaysUseIt competition.
Simon Parker’s goal is to cycle 1000 miles in a year, and lose the weight he put on after giving up smoking. This is the story of how he is achieving his health and fitness goal, making him the second winner of Experian’s #100DaysUseIt competition.
Richard Anderson’s goal is to travel to Australia to see his fiancée before they get married next year. Here he tells us what it means to him, after being the first winner of Experian’s #100DaysUseIt competition.
Check out more of our #100DaysUseIt videos here.
Buying your first home with a partner, and getting a mortgage together, can mean there’s a lot you’ll need to agree on – from furnishings to finances and more.
Compromise will inevitably have to be reached regarding the area you choose, the layout, the size, how long you intend to be there and several other factors. Do you need to be near a good school? Is it important to be close to a train station? Buying together is likely to mean an element of give and take in many departments like this.
Making sure that you’re financially able is important too – would buying a property stretch your budget to breaking point? Not only is there a mortgage to think about, but also one-off costs like solicitor’s fees, as well as regular bills & maintenance costs.
Your credit rating can be an important factor here. In general, the higher your credit score, the better your chances are of getting your mortgage, lower interest rates, and better deals.
If you’re applying to have a joint mortgage, bear in mind that credit reports only become linked if two people have actually applied for credit together (eg: a joint bank account, a mortgage with two names on it) or they tell Experian or a lender that they are financially connected.
By checking your Experian Credit Report you can see if and how you are financially linked, it can also help you understand if you need a little work to tidy up your credit history before a joint mortgage application is made.
For more helpful information on mortgages, visit www.experian.co.uk/mortgages, with useful hints, tips and features.
Starting on 1st September, we’re launching a brand new radio show “The Money Hour” in association with LBC. Co-hosted by Clive Bull and Sarah Willingham, it’ll be from 9 to 10pm on Monday nights. Experian’s resident money expert and Head of Consumer Affairs, James Jones, and experts from other organisations will join the presenters discussing issues such as mortgages and car loans, giving help and advice on credit matters and answering listeners’ questions. I spoke to James about the upcoming launch of the show, and here’s what he said.
What’s in the show? We’ll be discussing key issues such as qualifying for a mortgage, getting the best deals & avoiding credit refusal, and we’ll share our top tips for building a great credit rating!
What are the biggest myths surrounding credit ratings and credit scores? There are so many myths which are really frustrating for us and sometimes damaging to the public. For example, many people believe checking their own credit report will damage their credit rating. Of course this is totally false and if there’s any impact it’s likely to be positive as you may identity information or behaviour you can change to improve your credit rating in the future. Another example is ‘blacklisted addresses’, which simply don’t exist. But some people believe they do and make bad decisions about their finances as a result.
What should someone do if they get refused credit? We should all see credit refusal – and we all get turned down from time to time! – as an opportunity. Push the lender for an overall reason – and only they can tell you this as only they know! – and order your credit report from the credit reference agency the lender consulted and check through the information carefully.
The top three reasons why checking your credit report can only be a good thing?
1) For a start, checking your own report from time to time compliments the work the credit reference agencies do to try to make sure you’re the information is accurate and up to date. And if you do spot something that needs changing you can alert the agency which will then launch an investigation on your behalf.
2) By checking your report you may identify things you could do to improve your credit rating, for example by registering on the electoral roll.
3) Many victims of identity fraud discover the crime when they check their credit report, and in most cases the early you spot fraud the easier and quicker it is to sort out.
——————— The Money Hour – every Monday from 9-10pm on LBC. A podcast link will be available here on the Experian Experts blog each Tuesday following the show.