Bad Credit Mortgages Colchester

What causes a low credit score?

There can be a range of factors which cause you to have a low credit score such as:

• Voters Roll - Are you registered on the voters roll in Colchester? This helps the lender identity your name and address.
• Payment Profile - If you have had bad credit registered such as missed payments, defaults &/or county court judgements this will reduce your credit score.
• Credit Balances - If you are always using credit and are close to the limit this will imply that you rely on the credit for your daily living.
• No active credit - If you don’t have any active credit then you will have no record of being able to manage credit.

Improving your credit profile takes time, but having a good credit score allows you to possibly access cheaper forms of borrowing from high street lenders, so it is worth the time and effort.

What information does a credit report show?

Your credit report will detail lots of information about you such as:

• Your full name and date of birth.
• Address history including voters roll information.
• People you are financially linked with.
• Active credit and previous credit you have had along with the payment conduct record, so if you have bad credit such as missed payments, defaults etc - this will show.
• Previous credit searches.
• Any County Court Judgements registered.

how long does poor credit show on my credit report?

Your credit report covers the last 6 years. Even if you resolve any credit issues they will remain to be on your credit report until the initial event is over 6 years ago.

How to arrange a bad credit mortgage in Colchester?

Simply complete our online enquiry form where you can schedule a call or call the office now to speak with an adviser.