How can I check my credit file by Lawrenson of LettingFocus?

Many people find they are turned down for mortgage appllciations or other credit and they don’t know the reasons why.
It could be that there is a mistake on their credit file. So, here’s what you have to do.
To get your credit file, all you have to do is contact one of the three main credit reference agencies - Experian, Equifax or Callcredit. By law they have to provide you with your report and the charge for it is currently two pounds.
With Experian and Equifax you can request a paper copy to be sent to you by applying on line - their sites are at http://www.experian.co.uk/ and http://www.equifax.co.uk/ With http://www.callcredit.co.uk/ there is a form at their site which you can print out and fill in along with a £2 cheque or postal order.

Why Have I Been Rejected?
If you’ve been rejected for a loan, it could be that you don’t match the customer profile for that product or that you already have too many credit accounts - even though you may be making all your repayments on time.
On the other hand, by not having taken out any credit in the past, you can negatively affect your credit rating – your lack of any payment or credit history can result is a low score. This is a particular problem for people who have not had a UK account or lived at a UK address for a long time.
If you are rejected for a mortgage, ask the lender why – and hold fire on making lots of other applications via other lenders as multiple “foot prints” on your file may damage your rating more.

Checking Your Credit File
When you have got the credit file, check that all details on your credit record are correct. It’s very rare, but it can happen that another person’s credit report may have been mixed up with yours. Even worse that that, you may be the victim of identity theft.
If things are wrong tell the the credit reference agency, who will talk to your lender and highlight the item as disputed. You may also be able to put a "notice of correction" explaining your current financial status – and the reason - which any future lender considering any further applications will see.
If you have had a joint account with someone who has a poor credit record, this will affect you, so if you no longer financially dependent or sharing a joint agreement, tell the agency and they should be able to disassociate you from that person.
Other things you can do are make sure you are registered on the electoral roll at your current address and make loan and card repayments on time.
Also, pay off any old debts including county court judgments and close dormant accounts because lenders look at what your available credit is, even if you are not using it.
If you need more advice on your credit file or buy to let mortgages in general please ask me.

ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
We are LettingFocus.com - the property experts and I’m David Lawrenson, the author of “Successful Property Letting” - the UK’s top selling property book for the last 3 years.
What’s unique about LettingFocus is that I offer independent property seminars and one to one mentoring covering all aspects of residential property investment and letting because unlike most people in the buy to let and property “advice” business I am not linked to a property company, developer, agent or bridging loan financier.
I can tell you where to buy (which areas), what type of property to buy, when to buy, how to buy property at a low price, how to make sure you get tenants who are going to pay the rent and how to manage a rental property to make money.
I can also comment on “No Money Down” Schemes and “Buying Below Market Value” methods too.
I can answer most questions on letting property because I have been a landlord and property investor for over 25 years.

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