A successful mortgage application often hinges solely on your credit rating. Credit ratings and scoring systems are very subjective with each lender having their own particular criteria for determining this. There are online systems you can use such as Experian & Equifax. Thus it can be difficult to predict the outcome of your application, but if you have a good/excellent score on your credit report, you can expect the process to be smoother, and you will have access to the better deals out there.

Below are 5 ways to improve your credit score:

- Keeping up to date with all payments is the most important factor;

- If you have a poor or average score then apply for credit e.g credit cards, small loans, store cards (although try not to apply for new credit within 6 months of an application, lenders don't like to see this);

- Do not max out on your credit limits, the optimum utilization level is 30% or less;

- Register on the electoral roll;

- Regularly check your credit report for any inaccuracies, as these can harm your score. (We recommend Experian or Equifax, which are used by most high street lenders)

The process of obtaining a mortgage can often seem confusing and slightly overwhelming, but if you follow each of these steps you will find it much easier to obtain one. If you would like further advice on obtaining a mortgage please click on the link below:

Click here for Mortgage Advice

Any advice in this publication is not intended or written by Mortgages for Yacht Crew to be used by a client or entity for the purpose of (i) avoiding penalties that may be imposed on any taxpayer or (ii) promoting, marketing or recommending to another party matters herein.