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Whilst there is no definitive minimum credit score needed to obtain a mortgage, there are main credit agencies used by mortgage lenders, and each of these have different scoring, so it’s wise to be aware of them to ensure your credit rating meets the lender’s requirements. 


What are the main credit agencies used? 


Mortgage lenders in the UK tend to us use three credit agencies; Experian, Equifax and Callcredit. 


Each of these agencies use different scoring systems, and each one has different ‘minimum’ requirements. 


Experian, for example, score you out of 999, and a credit score of 700 or above is considered good. If you have a credit score of 800 or over, your credit score is considered excellent. 


Equifax score you out of 700, and a score of 475 and above is generally considered good.  


Callcredit bases your credit score out of five, with five being the best and one being the worst. The closer you are to 5, the better. 


So, if I meet these minimum scores, I’ll be accepted for a mortgage? 


You are more likely to be accepted if you meet these minimum scores, yes. 


Lenders work across a lot of different criteria, and your credit score is just one part, so even if you do not meet the ‘minimum’ levels, you should speak to one of our specialist mortgage advisers to see how we can help.