Maybe, again it will depend on the credit reference agencies being used as well as the mortgage provider you go through. For example, if you have a credit score between 561 and 720 with Experian (the largest credit agency in the UK) it would be considered as a poorer credit score than normal. Therefore, with this Experian score you could get a mortgage, but it is likely that you will have to pay higher interest rates.

However, if you check your credit score using Equifax or TransUnion and it is 600, you will be seen as in a good position to apply for a mortgage with this score. Also, keep in mind that each mortgage company will have its own lending policy, so some lenders will be more or less concerned by different parts of your credit profile.

All credit providers are required to be authorised and regulated by the Financial Conduct Authority.

As previously mentioned, the most commonly used mortgage credit scores are the FICO scores that you get with the UK’s main three credit reference agencies: Experian, Equifax, and TransUnion. Mortgage providers will usually look at your credit score from all three of the CRAs when you apply for a mortgage. If a borrower has three different scores according to each scoring system then they will use the middle credit rating to assess your application. If two credit agencies agree on your credit score though, the mortgage lender will just use that credit rating in their assessment.

Even if you have a fair credit score, taking steps to boost it can only have a positive effect on your chances of being approved for a mortgage. Having a higher credit score will also mean that you don’t need to pay as much in interest or as a deposit. Simply making small improvements to your financial behaviour can have a positive impact on your credit score.

1. Reduce your credit card debt and be responsible in your credit card use
2. Put your name on the electoral roll if you are not on it already. It is a quick process and shows stability whilst helping credit agencies confirm your personal details
3. Pay off credit card loans and utility bills on time
4. Avoid going into your overdraft on credit cards
5. Check the information on your credit file, this will give you the chance to correct any errors due to fraud and remove past financial partners who could have been affecting your credit score
6. Only apply for credit cards and loans that you really need. Making a lot of applications for credit at once will damage your credit score because it shows you are not in a stable financial position.