Ndubuisi 'Andy' Egwim walks through credit mistakes that kill mortgage applications. He saved a deposit for his first UK house but got rejected because he'd ignored his credit history. Being off the electoral register, opening too many accounts, and missed payments all tank your score, even if you barely borrow.
Mistake number one Ignoring credit history. Now this almost caught me out when I was buying my first house several years ago in the uk. I saved up the deposit but I didn't pay much attention to my credit history. Why would I? I had not borrowed any money, I didn't even have a credit card for years or any other loan so I thought it was fine. But when I tried to get a full contract I got rejected. Then when I went for my first mortgage I was in for a surprise. Luckily I had a mortgage advisor who stepped in and explained to me the credit rating and my credit rating wasn't strong just because my credit score was great and he also explained to me that simple things like not being on the electoral register, opening too many accounts and even if missing out paying on something. These are things that can affect your credit score or credit rating as an img. So watch out for these things and don't make these mistakes.
