If you have tried getting a mortgage but are rejected or offered a mortgage suitable only for those with low credit rating (ie with a high interest level) you may consider trying to improve your rating. You can them apply again in some months for a mortgage that offers lower rates.
In the meantime if you can, it might be worth applying for just a couple of credit cards, (assuming you haven’t already got any) and then start to spend a few hundred pounds on them each month. But repay your spend in full when each statement arrives. This should help improve you credit rating but you must. must. must pay back the card each time. If you get into debt by doing this you will be stumped completely.
This is not intended as advice; it is simply an option that could be available if you wanted to try to improve your credit rating but it is not guaranteed to work. Some people believe that it is a good idea to leave a small balance on the card every so often, so the credit card company can make a little money from them. But again, you must be able to pay off these cards and remain in control of the situation at all times.
Do not do this if you think you may not have the discipline it requires.
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