Credit Reports & Mortgages – What Does Your Credit Score Really Mean?

Your credit profile can play an important part in a mortgage application, but a number on a credit-checking app does not tell the whole story.

I regularly speak to people who believe they cannot get a mortgage because their credit score is too low. I also speak to people with an excellent score who are surprised when a lender will not accept their application.

That is because mortgage lenders do not simply look at the score you can see on your credit report.

The three main credit reference agencies

The three main credit reference agencies commonly used in the UK are:

• Experian
• Equifax
• TransUnion

They collect information about your credit history, including borrowing, repayments, credit limits and certain public-record information.

Importantly, they do not all use the same scoring system.

What are the credit-score ranges?

Experian now uses a score from 0 to 1,250:

• 0–640 — Low
• 641–860 — Fair
• 861–1,000 — Good
• 1,001–1,120 — Very Good
• 1,121–1,250 — Excellent

Equifax uses a score from 0 to 1,000:

• 0–438 — Poor
• 439–530 — Fair
• 531–670 — Good
• 671–810 — Very Good
• 811–1,000 — Excellent

TransUnion is moving to a new 0–999 scoring system from September 2026. Some services may still temporarily display its previous 0–710 score while the new system is introduced.

So, comparing an Experian score of 900 with an Equifax score of 700 is not comparing like with like.

Does a good credit score guarantee a mortgage?

No.

Your credit-reference-agency score is useful because it gives you an indication of the strength of your credit profile. However, banks and building societies have their own lending criteria and internal credit-scoring systems.

A lender may consider things such as:

• Missed or late payments
• Defaults
• County Court Judgments
• How recently an issue occurred
• Whether debts have now been repaid
• Current credit-card balances and limits
• Overdraft usage
• Recent applications for credit
• Your income and commitments
• Your deposit
• The property you are purchasing
• The lender’s own affordability and risk assessment

This is why two lenders can look at exactly the same applicant and reach different decisions. There is no single universal credit score used by every lender.

Had Credit Problems in the Past?

A missed payment, default or historic credit problem does not automatically mean you cannot get a mortgage.

The important questions are often what happened, when it happened, how much was involved and what your financial position looks like today.

This is where getting advice before making multiple applications can be valuable.

Rather than simply applying to the first bank you find, I can look at your circumstances, your credit history and the available lender criteria to help identify lenders more likely to consider your application.

Before applying for a mortgage

It can help to:

• Check your credit reports
• Correct any information that is wrong
• Make sure you are registered to vote where appropriate
• Keep payments up to date
• Avoid unnecessary new credit applications
• Reduce outstanding balances where practical
• Speak to a mortgage adviser before submitting applications

Checking your own credit report is normally a soft search and does not harm your credit score.

Need Help Understanding Your Credit Profile?

Your credit history can affect your mortgage options, but it does not necessarily define them.

The right advice can help you understand your position and, importantly, find the right lender for your circumstances rather than trying to make your circumstances fit the wrong lender.

Speak to Craig for friendly, straightforward mortgage advice without the jargon.