Your credit score is a number that represents your creditworthiness. It is used by lenders to determine whether or not you are a good candidate for a loan. A high credit score means that you are a low-risk borrower, which will result in lower interest rates on loans. A low credit score means that you are a high-risk borrower, which will result in higher interest rates on loans. If you’re concerned about your score, read our guide on getting a mortgage with bad credit in Scotland. You can find your credit score via Check My File.
How to Use Check My File to Find Your Credit Score
- Go to https://www.checkmyfile.com/ and create an account.
- Once you have created an account and logged in, click on the “See my scores” tab.
- On the next page, select the credit scoring model you would like to use (the most commonly used models are FICO and VantageScore).
- Once you have selected a scoring model, your credit score will be displayed on the next page.
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Interpret your score as follows: -A score of 750 or above is considered excellent
-A score of 700-749 is considered good
-A score of 650-699 is considered fair
-A score of 600-649 is considered poor
-A score of 599 or below is considered very poor
Frequently Asked Questions
Is CheckMyFile free to use?
CheckMyFile offers a 30-day free trial that gives you full access to your multi-agency credit report. After the trial period ends, the service costs a monthly subscription fee which is charged automatically unless you cancel before the trial expires. You can cancel at any time during the free trial without being charged. It is worth noting that each of the three main UK credit reference agencies also offers free access to your credit report individually through their own services.
Which credit agencies does CheckMyFile check?
CheckMyFile is a multi-agency credit report service that pulls data from all four major UK credit reference agencies: Equifax, Experian, TransUnion, and Crediva. This is particularly useful because different mortgage lenders check different agencies, so viewing all four reports in one place helps you identify any discrepancies or issues that might only appear on one agency’s records and could affect your mortgage application.
Does checking my credit score affect my mortgage application?
No, checking your own credit score through services like CheckMyFile is classified as a soft search and does not appear on your credit file or affect your credit rating in any way. Only hard searches, which occur when a lender formally assesses your application for credit, leave a visible footprint on your file. You can check your own score as often as you like without any negative impact on future mortgage applications.
What is a good credit score for getting a mortgage?
A good credit score for a mortgage varies depending on which credit reference agency is used. With Experian, a score above 881 out of 999 is considered good, while Equifax rates scores above 420 out of 700 as good, and TransUnion considers scores above 604 out of 710 as good. However, each lender has its own internal criteria and scoring models, so there is no single universal threshold that guarantees mortgage approval across all providers.
How often should I check my credit score before applying for a mortgage?
It is advisable to check your credit report at least three to six months before you plan to apply for a mortgage. This gives you enough time to identify and resolve any errors, pay down outstanding debts, and take steps to improve your score if needed. After your initial check, reviewing your report monthly allows you to monitor progress and ensure that any corrections you have requested have been applied before your formal mortgage application.
Now that you know how to find your credit score via Check My File, you can keep track of your creditworthiness and make sure that you are getting the best interest rates on loans! For practical steps to boost your rating, see our guide on how to improve your credit score when applying for a mortgage. You can also learn more about what mortgage lenders look for in your credit report.