Everything you need to know about Nationwide mortgages

How to improve your credit rating

Improving your credit rating gives you a much higher chance of being accepted for a mortgage from Nationwide. Curious about how you can improve your credit rating? We’ve broken down a few of the main things you can do to improve it. 

• Make payments on time – be sure you try to repay any money borrowed whenever you can, it’ll make your credit rating a lot healthier! Late or missed payments can impact your credit score negatively. In fact, these bad effects can mark your credit score down for up to 7 years, meaning it’s always a good idea to keep up with repayments (on whatever credit it is you need to repay). 
• Keep your balance low – carrying a high balance on several cards means Nationwide could view you as a higher-risk candidate. Instead, keep your balance low in relation to your credit limit, because this will be a strong indicator that you’re using credit responsibly. 
• Combine types of credit – you can get a healthier credit score by combining the types of credit you’re on, instead of just getting multiple credit cards.

Don’t forget about your credit history either. This is a summary of your overall time accessing credit and your various payment trends. Keep on top of the things listed above and your credit history will be a positive reflection of your good credit use! To get your credit score checked, websites such as Experian offer the service for free.