It can be hard enough to secure a loan or mortgage at the best of times if you’re struggling financially or have bad debts following you. However, what’s doubly frustrating is to be refused credit despite having taken advice on how to improve your credit score and managing to build it up to a respectable level.
With tighter restrictions on lending affecting creditors across the industry, it’s more vital than ever for borrowers to understand how the score on their credit report will affect the mortgage options available to them.
Credit Scores. One of those terms we have all heard of but don’t quite understand. For some it is a walk in the path, for others it can bring a cold shiver down ones back. Knowing your credit score and understanding your score can be vital when it comes to applying for a mortgage and extra credit.
We created this infographic to break down what all the numbers mean and how your credit score is calculated.
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