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There are many factors that lenders consider when looking at your credit history, and each one is different. The typical timeframe is the last six years, but there are many different factors that lenders look at when reviewing your mortgage application. 


What if I’ve never borrowed? 


If you’ve never borrowed money before, this makes it impossible to judge your habits as a borrower.  


To be attractive to lenders, you must build your credit history by borrowing smartly, and repaying on time. 


What if I have a credit card? 


If you have a credit card, but are making minimum payments and using up a lot of your credit limit, it could damage your credit score. 


You can improve it by paying off your credit card, which shows lenders that you can afford your credit, thus improving your score. 


What if I’ve opened lots of accounts in the past? 


If you’ve opened a lot of credit accounts in the past, even if you don’t use them, you could be seen as a higher risk to the lenders. 


If you don’t use the accounts, close them. This will improve your credit score. 


What if I’ve cleared my credit history in the last 6 years? 


Generally, lenders will see this as an improvement to your credit rating, which will increase your attractiveness to the lenders. 


Improving your credit score by making payments on time and clearing any credit you may have had will put your score will be in a good position. 


For advice on improving your credit score or applying for a mortgage, speak to one of our expert advisers who will be able to help you with the next steps.