BELFAST CITY CENTRE: 028 9013 7392 | EAST BELFAST OFFICE: 028 9560 9410 | ORMEAU ROAD, BELFAST: 028 9521 9349 | LISBURN RD BELFAST: 028 9521 9351 | DROMORE: 028 9210 6060 | LISBURN: 028 9279 4300 | GLENGORMLEY: 028 9072 7636 | ARMAGH: 028 3743 0770 | LURGAN: 028 3898 4004 | DUNGANNON: 028 8747 0270 | COALISLAND: 075 6180 7334 | COOKSTOWN: 028 8673 1055 

Contact Your Local Branch

BELFAST, CITY CENTRE: 028 9013 7392
BELFAST, EAST OFFICE: 028 9560 9410
BELFAST, ORMEAU ROAD: 028 9521 9349
BELFAST, LISBURN ROAD: 028 9521 9351
DROMORE: 028 9210 6060
LISBURN: 028 9279 4300
GLENGORMLEY: 028 9072 7636
ARMAGH: 028 3743 0770
LURGAN: 028 3898 4004
DUNGANNON: 028 8747 0270
COALISLAND: 075 6180 7334
COOKSTOWN: 028 8673 1055

How To Improve Your Credit Score

by | Mar 25, 2022 | Uncategorized | 0 comments

Deciding to finally take the step and reach out to a mortgage advisor about securing your home means you’re on the right track, here are some top tips on how to improve your credit score.

You may have heard many scary terms in relation to buying a home and one of those is the Credit Score. Who knew buying a home is about scoring points, but if you’re a good strategic thinker, there are things you can do to improve your credit score. All it takes is to be mindful of a few easy steps and be consistent with them.  

mortgage advice belfast

Register to Vote at your Current Address

Lenders will check if you’re enrolled living in the same place you claim to live, which is why it’s important to always register a new voting address if you move houses. 

Simply being registered at your current address will make you look more attractive to potential mortgage lenders.  

Pay off your Loans

When applying for a mortgage, it’s best to have a clean slate in relation to loans. So before getting in contact with any lenders, focus on paying off those loans to appear as best as possible. You’ll want to show that you’re a reliable person who prioritises giving money back over making more purchases. 

Avoid Having too Many Accounts

The more credit cards you have the worse it looks in the eyes of the lender. You want to make sure they can see that you’re living off your income rather than relying on credit cards.

 If you have 2 or 3 credit cards and are hoping to get a mortgage soon, it’s a good idea to get rid of those extra unnecessary cards that just make you appear the wrong way. 

Pay Bills on Time

There’s nothing worse than a mortgage lender seeing outstanding balances or failed transactions due to insufficient funds. Appearing as responsible as possible is the key to securing a good mortgage deal. 

If you’re getting into the mindset of getting on the property ladder, make sure you always have enough cash to pay all your bills. Organise and plan your income and expenses, paying attention to every minor detail. 

Pay into Savings Strategically

You may think it’s a great idea to put away large lump payments into your savings account, but you’ll be surprised that that’s not what your lender is actually looking for. 

What you need to prove is that you’re determined and capable of regularly saving money, and as little as 10 being put away systematically every week will look attractive. 

You don’t need to quickly gather lots of money, but show the process of actively focusing on saving. Determination to save is what lenders love to see. 

To have a high credit score you’ll want to:

  • Appear responsible and reliable
  • Show you’re a regular saver
  • Be good at budgeting 
  • Prove you can pay loans back

It’s that simple, you just need to be mindful with your money and appear as someone trustworthy of loaning money to. 

If you’d like some more advice on how to make your credit score better, be sure to contact The Mortgage Clinic who are the best mortgage advisor in Belfast. 

Helmut Elstner

Managing Director – Independent Mortgage Broker and Insurance Advisor

Helmut started working in financial services in early 2012 and founded The Mortgage Clinic in Belfast in early 2015. He specialises in all types of mortgages from First Time Buyer, Co-ownership, Self Build, Home Movers, Remortgages, Debt consolidation, to Buy to Let.

Three Best Rated Winner 2021
Winner Mortgage Broker of the year 2020
Top Rated Advisor 2021 on Vouchedfor