When a mortgage lender looks at a person's credit history they tend to use complex algorithms that look at factors such as are you late with any payments, are you credit hungry (a lot of credit) they will look at credit card utilisation (are they maxed up) and money other factors such as income, defaults County Court Judgments and so on. At the end of this programme a decision will be made weather they think you are a good risk to lend to.
The public tend to think that the credit score is the only variable that they use, they are correct about the use of the score, but it is estimated that a person's credit score will be 5% of the decision making. This is not as important as people seem to think it is.
Other factors such as are you on the voter's roll, how much income does the house hold have, how many financial dependents are there, how old are the mortgage applicants the older you get the more of an issue it becomes and so on
This in its self is a very god reason why speaking to a broker will be beneficial to you as we understand the full process and all the variables that lenders tend to look at when deciding if they are going to agree a mortgage in your favour.
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