How can you improve your credit rating, and
why is this important to property investors? Let’s take a closer look at this today, and
in particular, let me give you 8 easy actions that you can take to help boost your credit
rating. Hello there. My name is Tony Law, from Your
First Four Houses, and my channel is all about helping you get to investment property number
4 as quickly and as painlessly as possible. Now, I’ve got to do a quick disclaimer here.
I am not FCA approved, so if you’re going to act on any of the stuff I’m suggesting
or putting forward, before doing so, please seek independent financial advice. Having a bulletproof credit file is certainly
not essential if you’re going to invest in property, but there’s no question that it’s
going to help you. Obviously, the higher your rating, the more appealing you’re going to
be to lenders, and the better exposure you’re going to have to better rates. Let’s start
things off by finding out what your credit rating or credit score actually is. There’s a number of resources out there that
you can use. I personally use Noddle. I hope I’m pronouncing that correctly. I put a link
in the box below that will take you straight to the site. Now, unlike others, Noddle is
free for life, not just for 30 days. It uses Call Credit, which is one of the big fully
referencing companies. The other 2 is Equifax and Experian. All lenders use at least one
of these companies in addition to gathering other information about you, before deciding
if they’re going to lend to you. Go to their site, enter your details, and in a few minutes,
you’ll uncover a wealth of financial information about you. I bet there will be a couple of
things in there that might actually surprise you. Before I give you these 8 ideas, I’ve got
to just say, I have done a ton of research on this subject. I mean, I really got into
it. I actually came up with 21 different actions that you could take that will make a positive
impact on your credit file. I’ve prepared an e-book for you. Please, take a moment to
download this. There’s a ton of stuff in there, and I know that even if you’ve got a bulletproof
credit rating, there’s going to be stuff in there that’s going to help you get even higher.
An even higher rating. Please don’t miss out on that. Please be sure to download it. Finally, let’s look at these 8 different actions
that you can take. In position number 1, right at the top of the list, confirm that you are
on the electoral role. Never be late for any credit payment ever again. Pay more than the
minimum on your credit cards each month. Have direct debit set up for any unsecured borrowing
you may have. Be wary who you’re linked to financially. Now, this is a real big one,
because you’d be amazed, if you’ve got an old relationship partner or an old business
partner, you may have separated in the real world, but are you separated financially? Pay insurance premiums annually. Don’t take
advantage of any monthly premium payments. I was really surprised by this. If you pay
monthly, often they will do a credit search, a hard search on your file, and that actually
leaves a footprint on your credit file. Be sure that any addresses that you have on any
old accounts tally with the information that you’re putting forward to lenders today. Lastly,
if you are unfortunate enough to be rejected by a lender, you need to establish why. I
would suggest you go, you contact the lender, you ask them which referencing company they
use, and they are obliged to tell you. Then, you contact that referencing company, and
you download your credit file from them, and you establish specifically where the problem
is. There’s a chance. A very reasonable chance, if you’ve been treated unfairly, that you
could actually correct that error. There you go. There’s 8 reasons for you, or
8 actions, rather, that you can take. Download the e-book, because there’s a total of 21
really good actions that will help you. I really hope that you found this useful, as
always. If you do, please take a moment to subscribe to my YouTube channel, if YouTube
is your thing. Alternatively, please like my Facebook page, and this way I can keep
you up to date when the next video is available to you. My name is Tony Law, from Your First Four
Houses. I really, really hope you found this one interesting, and I hopefully will look
forward to seeing you in the next video. Thank you.