CREDIT SCORES
7 Stay consistent with payments One of the best things for your credit score is to make all your monthly payments on time. Make sure you’ve set up direct debits, even if it’s just for the
YOUR FIRST TIME BUYER CHECKLIST BUILDING THE STORY OF YOUR FUTURE HOME Think of this timeline as a supportive guide to becoming mortgage ready. It’s not about perfection or overhauling your finances; it’s about small, steady steps that help you shape the future you want. Follow the checklist below and you’ll be well on your way to unlocking the door to your very first home, ready to begin the next chapter of your story with confidence. Six Months Before Applying Register to vote at your current address Check your Experian credit report and score Dispute errors and update old addresses Reduce balances and aim for below 30% utilisation Consider a Notice of Correction if relevant Remove outdated financial links (financial dissociation) Three Months Before Applying Avoid new credit applications where possible Pay every bill on time – set up direct debits Keep reducing any existing debts Use soft search eligibility tools to explore mortgage options
minimum amount.
Every step here is a chance to strengthen your financial foundations and move closer to the moment you get to turn the key in your own front door. THREE MONTHS BEFORE APPLYING KEEP THINGS STEADY As your application gets closer, it’s time to focus on stability and avoid anything that might disrupt your score. 1 Avoid applying for new credit New applications can temporarily lower your score, so it’s best to hit pause unless it’s necessary. 2 Double-check all payments are covered Even one missed payment can have an impact, so setting up direct debits or reminders can help keep everything on track.
3 Keep reducing balances where you can Even small payments help. Reducing what you owe supports your score and shows lenders you’re in control.
4 Use soft-search tools for research Soft searches let you explore what kind of mortgage deals you might be eligible for without leaving a mark on your credit report. Use quotations or comparison services such as Experian. 5 Be mindful of spending
Your affordability will be checked when you apply. A few months of calm, predictable spending can really support your application.
APPLICATION WEEK THE FINAL CHECKS Now is the time for final checks to make sure everything is correct, and organised. Lenders will compare the information on your application with your documents and credit report, so:
• Check addresses match on all your accounts and electoral roll • Keep job titles, dates and income details consistent on any applications or quotations • Have your P60, three months of bank statements and your latest credit report ready. experian.co.uk
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