How to read your credit file

How to Read My Credit Report

Mortgage Chain

First Time Buyer Mortgages

Alex Kerr: Mortgage Broker for First Time Buyers

Mortgage Chain are specialist Mortgage Brokers for First Time Buyers and have helped many first time buyers secure their dream first home.

But before you start looking into mortgages, there is one crucial step: How to Read My Credit Report

 

Do not reply on information from one credit file agency

Understanding your credit file is vital when getting your first mortgage. 

However, the problem is, these days mortgage lenders can tap into ExperianEquifax or Transunion credit agencies to assess your application.

So it is vital to see what is happening on all three credit files as the data could be different on each file, and therefore the result in your mortgage application may not be what you were expecting.

How to read your credit file

How to Read Your Credit File – Credit Check – checkmyfile

Thankfully checkmyfile provides a free report, providing all three credit file agencies on one file. 

A checkmyfile report includes credit file reports from Experian, Equifax and Transunion all in one file and for the same price. Some lenders may use one of these agencies to assess your mortgage or a combination of all three. It is very common for mortgages to be declined when a potential borrower only has information from one agency (example: Equifax), and the lender is using one of the other providers (example: Experian) to come to a credit decision, usually when you submit an agreement in principle. In this example, the Experian credit file may hold different data to the Equifax file, that the lender is picking up, but the borrower is not. This often leads to confusion and sometimes time and money wasted.

Do not waste any more time and money!

At Mortgage Chain, we submit all of our potential mortgage borrowers to a checkmyfile credit file report. For mortgage purposes this is by far the best report available, provides the data on all three agencies, so no mistakes are made and all of the required credit information is available from outset.

Thinking of a mortgage ? – Download your free checkmyfile credit report today

Instructions below and please see our You Tube Video below on how to read your credit file! Remember to cancel within 30 days! 

Download credit file here:

>> Please click this link to access CheckMyFile

> How to download and save your checkmyfile credit file: Scroll to the bottom of the page once logged in (on the “credit report” tab at the top of the screen) and select “download printable report” and click download. Remember to send us your password!
> How to cancel the report: Go to the “Expert Help” tab (the furthest to the right tab at the top) and on the “create message” area, select “I need help with my account” then “other” then “Cancel subscription / How Do I cancel Subscription”
checkmyfile offer a 30-day free trial which is then £14.99 a month thereafter and can be cancelled at any time.

Latest YouTube Video on how to read my credit file

Thank you for checking out today’s blog on how to read your credit file, please be sure to check out next weeks blog, talking about the new help to buy scheme for 2021! 

Today’s Question: Have you been declined a mortgage which left you confused as to why it was declined ?

Let me know in the comments below!

best

Alex Kerr
Mortgage Broker for First Time Buyers


Free Credit File Check. Check your credit score from the outset! Use checkmyfile as they provide reports of all three credit file agencies the mortgage lenders use to credit score you, on one file (Experian, Equifax and Transunion). checkmyfile offer a 30-day free trial which is then £14.99 a month thereafter and can be canceled at any time.

Check my free credit score now: CLICK HERE For a free credit score check: email your checkmyfile credit file to: [email protected]

DISCLAIMER: This video and description contains affiliate links via the above checkmyfile link, which means that if you click on one of the product links and purchase the product, I’ll receive a small commission. This helps support the blog and allows us to continue to make more like this. Thank you for the support!

If you would like to speak to a Mortgage Brokers for First Time Buyers please get in touch or comment below, or if you prefer book a free, no obligation Analysis Call below.

Just click the button and choose a time and day suitable to you!

To understand fully what a Mortgage Broker is, click here.

Any questions, please let me know.

Speak soon

Alex Kerr
Mortgage Broker for First Time Buyers

0
Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.