If your credit rating is bad, you can take steps to improve it. This is a bureaucratic chore, but can save you hundreds, if not thousands of pounds.
Getting a mortgage is so stressful, and getting a house so desirable, that people want to get it over with quickly. So they sign up to bad deals. Then their marriage breaks down two years later. The drip-drip effect having no money at the end of the month is quietly corrosive.
Improve your credit-rating. Find out what it is at Equifax, Experian, TransUnion and/or CallCredit. Lenders may access them all. Then do the following:
– Make sure you are on the electoral register.
– Satisfy liens and public judgements, such as in the County Court (CCJs).
– Correct errors, including erasing judgements older than seven years. Paid-off debts can be legitimately recorded up to seven years after settlement.
– Close unneeded accounts. Close them off _slowly_, not all at once. Keep only two credit cards. These should include your oldest card, as that has the longest credit history associated with it.
– Pay off credit cards. Keep balances low, and paid off on...
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