By: Sarah Williams

Are you in the market for a new mortgage, but feeling a little apprehensive about your credit score? Don’t worry, you’re not alone. Improving your credit score is an important step in qualifying for a better mortgage rate. A good credit score can mean the difference between getting a low interest rate and a high one, which can save you thousands of pounds over the life of your loan. In the UK, your credit score is based on information in your credit report, which is held by credit reference agencies such as Experian, Equifax, and TransUnion. 

Tips to improve your credit score
 

Check your credit report
The first step in improving your credit score is to check your credit report and make sure that all the information on it is accurate. You are entitled to one free credit report per year from each of the three credit reference agencies. Make sure to check for any errors or inaccuracies and contact the credit reference agency if you find any.

Pay your bills on time
Late payments can have a big impact on your credit score. It's important to pay all of your bills on time, including credit card bills, utility bills, and rent or mortgage payments. Set up automatic payments or reminders to help you stay on top of your bills.

Keep your credit card balances low 
High credit card balances can also negatively impact your credit score. Try to keep your credit card balances low and make sure to pay off your balances in full each month if possible.

Limit new credit applications
Each time you apply for credit, it can have a negative impact on your credit score. Try to limit the number of new credit applications you make and only apply for credit when you need it.

Use a credit builder credit card
If you have a poor credit history, you may be able to get a credit builder credit card. These cards have low credit limits and are designed to help you build up your credit history.

Register to vote
Registering to vote can help you improve your credit score as it demonstrates that you are a resident at an address for a certain period of time, which is an indicator of creditworthiness.
 

By following these tips, you can improve your credit score and qualify for a better mortgage rate. It's important to remember that improving your credit score takes time and patience, so persevere with your efforts, and you will get there.