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Where can I get my credit score?
Experian, Equifax, TransUnion are the three credit reference agencies in the UK. You can usually obtain a free credit report trial by signing up with these agencies. However, if you don’t cancel your membership after the trial period, you will be charged every month for the service.
Different credit rating agencies may record different things about you and different lenders may score you differently based on that information.
Equifax scores people from between 0 to 600.
- 0 to 278 is a very poor credit score and this person would pose a big risk to lenders.
- 279 to 366 is still quite a poor credit score and would still pose a risk to lenders.
- 367 to 419 is considered a fair credit score with some risk to lenders.
- 420 to 466 is a good credit score and lenders are more likely to lend to someone within this bracket.
- 467 and above is considered an excellent credit score and a low risk to lenders.
Experian credit score people between 0 and 999. Its scoring system is as follows:
- 0 to 560 Very poor
- 561 to 720 Poor
- 721 to 880 Fair
- 881 to 960 Good
- 961 to 999 Excellent
Representative 22.93% APRC variable.
For a typical loan of £26,600 over 180 months with a variable interest rate of 19.56% per annum, your monthly repayments would be £484.00. This includes a Product Fee of £2,660.00 (10% of the loan amount) and a Lending Fee* of £763.00, bringing the total repayable amount to £87,030.00. Annual Interest Rates range between 11.7% to 46.5% (variable). Maximum 50.00% APRC. *Lending Fee varies by country: England & Wales £763, Scotland £1,051, Northern Ireland: £1,736.
Think carefully before securing debts against your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
