Our Blog

A Guide to Credit Scores Posted: 30th May 2017
img

What makes up your credit score? What can impact on your credit score? Sainsbury’s Bank have created a useful Infographic to answer the above and more in a guide to credit scores. Financial organisations, lenders and utility companies usually use credit scores to determine if your application will be approved. Check out the guide below for helpful tips on understanding your credit score and how to manage it.There are 3 main UK credit agencies: Experian, Callcredit and Equifax and you need a score in between 721 and 999 to be considered as a lower risk to lenders. There are many factors that impact your credit score, from how often you’ve changed address in the last 3 years, to how you pay your monthly invoices to whether you are registered in the local Electoral Roll.

Your credit score will be checked when you apply for a mortgage, so before taking any steps, make sure you’ve taken steps to improve your credit score to the best possible level. In order to do that, you will need to keep the balance on your credit cards low – less than 25%; make sure your monthly payments to utilities are regular and never late; meet monthly minimum payments on your credit cards.

Also, it is important to know you can check your credit score file before applying and check for any potential mistakes that might impact your rating. Check more details on how to improve your credit score in the Infographic below:
Sainsbury’s Bank Guide to Credit Scores


Whatever your reason for moving; whether it's for extra space, to downsize or you may simply have found your dream home, Nicol can help. Our knowledge of the local property market helps us develop a marketing plan that's right for you and your property.
We want our clients to be delighted with the service we provide. Listening to your needs and understanding your requirements is our starting point. To find out more about our approach to selling homes, download our comprehensive Guide to Selling your Property here.
If you are planning on selling your home, contact Nicol Estate Agents today for an appraisal of your property. Our Managing Director Douglas Nicol and Sales Manager Daniel Cohen carry out hundreds of market appraisals every year, giving them an intimate and unparalleled knowledge of the property market in Glasgow, from city centre apartments to family homes and building plots. We will talk to you about the property market in your area, compare sales evidence, local demand for similar properties, outline our tailored marketing plan and provide details of our sales support strategy right through to completion.