How British Expats Can Improve Their UK Credit Score
While having a UK credit score is not necessary to obtain an off shore mortgage in the UK, it can have benefits for some mortgage-seekers, including more competitive rates and lower arrangement fees.
Here’s how you, as a British expat, can improve your UK credit score.
Step 1 – Create the score
To create and maintain a UK credit score keep a business correspondence address in the UK while you’re working overseas. By doing this, you enable UK-based off shore mortgage lenders to assign you a credit score according to UK standards, which will result in more mortgage options for you.
Step 2 – Grab a credit score report
You can easily check your credit score online, by paying only £2 with your credit card at call credit and completing the form on the website. You’ll be granted instant access to your credit file. Send that file to the mortgage lender at which you’re considering applying for credit.
Step 3 – Addressing late payments
If you have missed any payment while relocating overseas because of something unavoidable, you can now try to correct that. All you have to do is write a 200-word statement known as a Notice of Correction, which will be attached to your credit report, possibly improving your score. Include in this notice your name and address.
In the end, remember that you can obtain an offshore mortgage even if you don’t have a UK credit score. If you’re an expat and don’t have any longer a credit score in the UK, let CTFM help you find the best lenders for you, the ones with the top services and rates.
In order to find a great offshore mortgage, all you have to do is to contact the experts at compare the financial markets today and ask us to find a great offshore mortgage deal for you.
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