Although there is no uniformity in credit scores, they usually consider the following when generating your credit score:

•         The payment history of your bills
•         The credit utilisation rate
•         your credit age
•         Your credit mix
•         The amount you owe lenders

You should do the following to record a good score:

Pay Your Debt On Time

One of the ideal ways to improve and maintain a good score is by paying your debt on time and in full, if possible. If you want to keep a good score, you should avoid late credit payments because payment history contributes to a larger percentage of your credit score. Agencies hire a credit cleaner to help collect credits from individuals who fail to pay creditors on time. Use all means to ensure you maintain a good score by paying your credit on time. If you have difficulties with on-time payments, you can set an alert that will remind you to pay your credit.  

Review Your Credit Reports

The first step to help you maintain a good credit score is reviewing your credit reports. If you review your credit reports, you will be in a position to know your credit status from all three credit agencies. If you are interested in maintaining a good credit score, do reviews and ‘ identify any unpaid balances or inaccuracies made by the agencies. To maintain a good credit score, you should pay any pending credit you owe lenders. This will help you to maintain good lending behaviour. Ensure your credit has no errors as it might affect your credit score negatively. If it has then you should check out the good credit repair companies and find one that is suitable to solve your issue. Once you identify the agencies that have not cleared you from old debts, ensure you get cleared to maintain a good credit score.

Limit Applying For A New Account

To maintain a good credit score, you should limit the number of times you create new accounts. Getting new lines or credit accounts leads to a hard inquiry that can negatively affect your credit score. Opening new lines of credit affects your average age, length, and credit history, which are the requirements for calculating a credit score. Individuals opening new accounts show lenders that they can open and manage many accounts; this will result in many lenders avoiding lending you money. They feel that lending you money is a kind of risk. As you get new credit accounts and lines, be cautious not to tamper with your credit score.

Keep Old Accounts Open

If you are planning to open a new credit account or already got a new credit account, don’t close your old account. Most individuals tend to close old accounts once they pay off their credits. Closing old accounts is not a good idea if you are aiming to maintain a good credit score. Keeping old accounts is essential in maintaining a good credit score as it maintains the length of your credit score, which is a requirement in maintaining a good credit score.

Keep Your Credit Use Rate Low

If you are aiming to maintain a good credit score, maintain a low credit use rate. Try at all costs to minimise the rate at which you utilise credit. The best option to keep your credit utilisation low is by maintaining it at or below thirty per cent. You can also increase or maintain a good credit score by asking your credit card company to limit the credit increase. Another instance of keeping your credit utilisation low is choosing alternative credit means. To maintain a good score by utilising low credit, you should pay off your balances more than once a month.

It is a nice idea to pay off your balances earlier instead of waiting until the last minute to pay off your balances. Don’t risk being reported to card issuers because you cannot clear your balance.

If you want to continue receiving new credit from lenders, maintain a good credit score. Be on the forefront to confirm the important information that will help you maintain a good credit score and hence be able to acquire credit from lenders in the future. If you are looking for ideas to maintain a good score, his article will greatly help.

Prepare your home

For your house to sell quickly, you need to make it presentable and visually appealing. Avoid major home renovations and concentrate on handling quick repairs that could discourage prospective buyers if left unaddressed. Thoroughly clean your house and clear out the clutter. Remove personal items as home buyers need to be able to see themselves living in your property. Rent a storage unit in the meantime to safely store your belongings and get rid of bulky furniture to free up space. 

Boost curb appeal

Aside from taking care of your interiors, you also need to enhance your home’s curb appeal to ensure that it can give a strong impression to potential buyers. Many modern home buyers rely on digital real estate platforms, so your home exteriors should be attractive enough for them to check your online listing. Address minor exterior updates and exert effort in beautifying your surroundings. Some of the things you can do to enhance curb appeal include: 

• Plant a shaded garden
• Trim the shrubs or trees
• Pressure wash the exteriors, including the sidewalks and driveway
• Paint your front doors
• Clean your windows
• Mow the lawn
• Clean the gutters
• Repair the fence
• Replace your house numbers
• Update your mailbox

Price it competitively

Regardless of the current market type, you must price your property wisely. Overpricing can deter prospective buyers and cause your property to stay longer on the market than necessary. On the other hand, pricing it too low can cause doubt among buyers and force you to sell it way less than you initially intended. Consider the price ranges of similar properties in your area and work with your real estate agent to get the best possible figure for your house. 

Be flexible and accommodating

Being flexible and accommodating is essential for your house to sell quickly. Since you’re pressed for time, you must be highly adaptable to your potential buyers’ showing requests, even if they tend to schedule at the last minute. Adjust your schedule around your buyers’ ideal schedules and always make them feel welcome in your home. 

Explore your selling options

Selling your house using traditional methods can take longer than necessary. Consider alternative strategies such as selling it for cash, auctioning off your property, going with the for sale by owner (FSBO) route, or offering it to an investor or developer. In most cases, choosing a cash buyer is ideal as these companies will purchase your house in its current condition. Research the local cash buyers in your area and make sure to go with a trusted home buying company.  

Selling a home with a rigid deadline can be challenging. Remember to follow these tips the next time you need to quickly sell a property. 

In this situation, a company that buys house as-is can help you purchase your hoarded and damaged house as-is. If you also own a hoarder house and cannot sell it, check out our house-selling tips to get reasonable rates for your property.

Declutter

The cost-free solution to selling a hoarder house is to clean up as much as possible. In addition to the stress that this creates, you must also overcome your unnecessary attachment to items and convince yourself to eliminate the mess collected over the years. After organising the things you want to keep and cleaning your house, you will not only get to live in a clean environment but also receive attractive offers from multiple buyers.

Fix The Structure

When a house is overfilled with hoarded items, it is more likely to incur structural damages from factors such as pests, mould, and broken wiring. If a buyer finds an issue with your home’s structure, they will likely ask you to repair the issue or lower the selling rate. Save your time and consider fixing the sink, stairways, walls, flooring, paint, and anything else that may need repair. The faster and more effectively you fix the damage, the quicker your house will sell.

Approach A Restoration Company

Many restoration companies provide their services to hoarders and help them remove extra items from their houses. If you are unable to clean the mess without external help, you have the option to contact a restoration company. 

A team of experts will arrive at your place and separate the necessary items from the garbage in your presence. The restoration companies also have professionals able to repair a broken or damaged foundation. If you can afford these services, you can hire cleaning and repairing specialists. They will not only do the job professionally using advanced equipment but also restore your house to a good condition.

Contact Real Estate Investors

If none of the above solutions seem to work for you, or you are looking for an effortless option, house-buying companies have you covered. These companies can send a team that inspects the house's condition and presents you with an offer. The best thing about these companies is that they buy houses without asking you to clear up the space. As a result, your house gets sold at fair rates, and you are relieved from the stress of emptying the house.

Endnote 

To sell a hoarder house, it’s necessary to make some amendments to make it acceptable for buyers. Along with the above tips, the easiest and the most recommended way of selling a hoarder house in minimum time is to sell it to cash buyers. They accept the house in its original condition and offer excellent rates despite numerous untreated structural issues.

[ymal]

Well, a BIN is the first 6 digits of a credit or debit card number. For example, if your credit card number is 1234 5678 9000 0000, then the BIN would be 1234 56. Now, these numbers have a purpose because they can identify the issuing bank, card brand, card type, card level, and country of a credit card. Now that you know what a BIN can identify, how do you use it?

1. Use A BIN Checker 

There are several online BIN checkers that can check your BIN code and give you all the information you need. Since the BIN is only information about the bank, and the rest of the numbers on the credit card are numbers for your account, you don’t need to worry about your data being breached.

Just look for a BIN database and see what comes up, and then type in your first six numbers to collect all the information you need. You can check here to find a good bank identification number search service, and start learning more about where your card came from.

2. Analyse The Numbers Yourself

If you don’t want to put information from your credit card online, then you can focus on analysing the first number yourself to find some of the information. The first digit of the BIN on your credit card shows the card issuers industry, or where the card came from. Most banking and financial cards have 4 or 5 as the first digit, so you should have that as well.

Sadly, the remaining numbers of the BIN cannot be understood yourself, and you will need to use some type of online checker.

3. Talk To Your Bank

Of course, you can go back to the bank where you have set up your account(s) and ask them for help in figuring out your BIN. The staff will be happy to help you find the information you need, and then you can continue your transactions.

What Do Bank Identification Numbers Do For You?

The BIN number is actually your first line of defence against fraud and it ensures that all of your transactions go through. The electronic payment processing system uses the BIN to help connect the merchant you are buying from, the payment processor, the issuing bank, and then the merchant’s bank. The BIN is checked and if it is verified, then the payment goes through.

The rest of the numbers on your card is your bank account number, which is then accessed to draw money out of the card and complete the transaction.

If you type in your BIN wrong whenever you are making an online transaction, then the payment can be declined because the processing system detects fraud. Nearly every single type of card has them, and they help you out every single time you make a payment. Because no card issuers have the same BIN numbers, it is very easy to tell if fraud is happening with that specific card.

The BIN Is Easy But Important

Taking the time to enter your BIN into an online checker is going to help you out because you will find everything you need within a few seconds, and then you can have more information about your bank and your card.

[ymal]

Track your spending to improve your finances

If you want to get your finances under control, the first step is to be aware of how much money you're spending. MoneyTrack is a great app that can help with this, by letting you track all of your expenses in one place.

Once you know where your money is going, you can start to make changes to save. One easy way to do this is to cut back on unnecessary expenses, like that latte daily or those new shoes you don't need.

Create a realistic monthly budget

Creating a budget that works with your lifestyle and spending habits is essential to effective personal finance management. You'll need to track your income and expenses regularly to ensure you're sticking to your budget, and make adjustments as needed. Here are a few tips to get started:

• Start by listing your monthly income and expenses. Be honest and include everything.
• Once you have a clear picture of where your money is going, look for ways to cut back on unnecessary expenses.
• Make sure you're automatically transferring a fixed percentage of your income into savings each month.
• Invest in yourself by taking advantage of employer-sponsored retirement plans.
• Don't forget to review your budget regularly and make adjustments as needed.

Build up your savings—even if it takes time

Making regular contributions to a savings account is one of the smartest things you can do for your financial security. It may not provide an immediate payoff, but if you ever lose your job or experience another financial hardship, you'll be glad you have that money saved up. And if you don't need it, you can always use it to get ahead financially.

Pay your bills on time every month

There are a few other things you can do to make sure your bills get paid on time. Automatic payments can be set up through your bank, so your payments are automatically deducted from your account each month. You can also sign up for email or text reminders to ensure you don't forget to pay your bills.

Cut back on recurring charges

One of the best ways to get your personal finances in order is to cut back on recurring charges. This could include things like cable TV, Netflix, Spotify, or even gym memberships.

If you're not using a service anymore, or if you can get by without it, cancel it. You'll be surprised at how much money you can save by getting rid of things you don't need.

Another way to get your finances in order is to make a budget and stick to it. Figure out how much money you need to live each month, and then make sure you don't spend more than that.

Save up cash to afford big purchases

Certain kinds of loans and debt can be helpful when making major purchases, such as a house or even a car that you need right now. For instance, getting a home equity loan can let you borrow against the equity in your home, which can be a great way to get cash for a down payment on a new house.

Similarly, if you get a car loan, you may be able to get a lower interest rate than if you were to finance the car with a credit card.

Start an investment strategy

Investing may seem like a complex and intimidating process, but it doesn't have to be. If you're just starting out, it's important to keep things simple and begin with a basic investment strategy. You can always add more complexity as you become more comfortable with investing.

There are many different types of investment accounts, but the most common are individual retirement accounts (IRAs)s. An IRA is a personal savings account that allows you to invest in a variety of different stocks, bonds, and mutual funds.

Bottom line

If you're looking to get a quick loan to help manage your personal finances, check out our website. We offer a variety of loans to suit your needs, and we're here to help you get the money you need. Apply today and get started on improving your financial situation.

[ymal]

This type of fraud can lead to financial problems for your child later in life, so it's important to be on the lookout for signs that your child's credit may have been compromised. If they do fall victim to fraud, their name and information can be used to take out the best personal loan or credit cards. 

If you notice unusual activity on your child's credit report, such as inquiries from companies you don't recognise or accounts that you didn't open, fraud may have occurred. You should also monitor your child's mail for bills or collection notices from creditors. If you suspect that your child's credit has been fraudulently used, you should contact the credit reporting agencies and place a fraud alert on your child's file. By taking these steps, you can help protect your child's credit and financial future.

It's important to keep an eye on your child's credit report to make sure that there is no fraud taking place. Here are a few things to look for:

1. Unusual activity. If you see something on your child's credit report that you don't recognise, it could be fraud. This can include new accounts that have been opened, charges made to existing accounts, or even inquiries from creditors.

2. Incorrect information. If any of the information on your child's credit report is incorrect, it could be a sign that someone has fraudulently obtained their personal information. This can include things like a wrong address or date of birth.

3. Poor credit history. If your child doesn't have a long credit history, you might not expect to see much on their credit report. However, if you see that they have a lot of late payments or other negative marks, it could be a sign that someone has been using their information without their knowledge.

Here are the top 10 ways to protect your child’s credit from fraud:

1. Keep your child's Social Security number and other personal information safe.

2. Check your child's credit report regularly.

3. Put fraud alerts and security freezes on your child's credit file.

4. Sign up for a credit monitoring service.

5. Teach your child about good credit habits.

6. Report any suspicious activity immediately.

7. File a police report if you suspect fraud.

8. Protect your own credit to avoid identity theft.

9. Keep tabs on your child's spending habits.

10. Talk to your child about money and credit regularly.

If you suspect that your child's credit is the victim of fraud, you should contact the credit reporting agency and the creditor immediately to dispute the inaccuracies and begin the process of restoring your child's good name.

[ymal]

But, when you go on a business trip, you usually go alone. That kind of adventure can seem a bit complicated, especially when it comes to the financial aspect. Today, we are going to show you how to plan your budget when you go on a business trip.

Find Cheap But Beautiful Vacation Rentals 

It is safe to say that, in most cases, your company will pay for your trip. But, that is not always the case, especially if you work at a startup. That is why a solo business trip can cost you a lot of money. This means that the best thing you can do is find cheap, but beautiful vacation rentals. Not every city has those and that is why you should read this list of Best Cities for Women to Solo Travel and find the ones that suit you best. If your company sends you to one of those cities, you will have a wonderful time.

Find Cheap Hotels

Every city has cheap and pricey hotels. If luxury is not important to you, then you should definitely find a cheap hotel and book a room. Trust us, that will save you a lot of money. This is especially true if you plan on spending some time in the place you’re visiting. Back in the day, finding decent cheap hotels was a bit complicated. Today, that is not the case. You can easily research the cheap hotels in the city you want to see. You can see the photos of rooms which makes the search process a lot easier.

Master The Public Transportation

If you are on a business trip, that means that you will have a lot of meetings every day of the week. So, you will probably travel a lot in the city. Going by taxi or uber every single time can be a bit pricey. If you are on a budget, you must find a cheaper option. Public transportation is the best option for you. But, if you don’t know the city well, you must master the public transportation and its lines. Do your research before you go and learn how to read the map of public transportation. That will save you a lot of money.

Set A Daily Budget

If you want to save money on your trip, you must set a daily budget. What does that mean? It is simple, determine the amount of money you can spend on a daily basis. For example, if that amount is $50, limit your spending once you’ve reached that amount. It can be annoying, especially if you find something beautiful to buy at the end of the day, but if you honour this rule, you will have money every single day of your trip. That is the most important thing.

The Final Word

It is safe to say that a solo business trip can be a wonderful experience. But, planning a budget for it can be a bit complicated. The things we discussed today will definitely help you when it comes to finances. If you plan your budget right, there shouldn’t be any unpleasant surprises on your trip.

While these factors add up from the investors’ viewpoint, the final success story involves additional characters. It was easier to gauge the success or failure rate until the COVID-19 pandemic crushed the entire world, impacting not only animate humans but also inanimate things like real estate.

If you are considering a property investment, it is crucial to consider the pandemic’s impact. The global outbreak has compelled many people to rethink how long they can stay in their present homes before having to relocate to a new and safe location. 

In communities where a large number of people were infected, many individuals are considering selling their houses as a preferred option so that they do not miss out on the early profits or lack of demand down the road.

Moreover, strict norms to curb the spread of the virus have made it difficult for both property sellers and buyers to engage in frictionless transactions. Immediate repercussions include shockingly declined property sales, an abrupt increase in cost and people abandoning their properties in the metro cities, throwing the market into a depressing state.

Currently, the real estate market is in a volatile state and witnessing change on different levels. With the abrupt change in policies of governments, the real estate market is in flux, which affects its stability. Owning a property is getting more challenging for people due to the rising interest rates on mortgages.  

Still, people are looking for ways to make money with property investment. If you are one of them, then the following tips will help you create the right mindset and plan.

Select The Right Location

Selecting the right location for your next property is half the battle won. The location should cater to everyday needs by being close to grocery stores, restaurants, cafes and public transport.

By choosing the right location, you kill two birds with one stone, i.e., better resale value and higher rental income. Right location means having all the amenities nearby, which allows you to quickly sell your property once you decide to move on – best if you have a money-making mindset.

Moreover, the value of property bought in the right location and at the right time will rise over the years due to appreciation and capital growth. The demand will also grow because of new development projects like residential buildings or shopping centres being built nearby.

Get Proper Insurance

Getting the proper insurance is essential when you consider investing in a property. Insurance should not just be for your home. It is equally feasible for your next property. But the question arises - why is insurance crucial for your property?

There is a multitude of reasons for having your property insured. Without proper insurance, it will be next to impossible to get compensation for mishaps like a fire or burglary. It is safe to say you will have to bear the burden of any untoward events alone.

Also, it is recommended for landlords to get insurance by paying a small subscription fee to an insurance company today and get a guarantee in exchange. It comes in handy if you are planning to rent out your property to tenants. Insurance companies will be responsible for bearing any large and uncertain loss that may happen due to mishaps caused by tenants.

Define Your Investment Goals

Understanding your investment goals is the next big step in your path toward making a profit from your property. Defining these goals is not easy. You need to be realistic and measure your goals in the long term.

That means if you are looking for at least 20% appreciation per year, which might not be very realistic considering the property location and current circumstances, then you need to be more practical in your approach.

Also, you should stick to a time-bound strategy when it comes to investment goals. It would mean forging a strategy that includes both buying a property and selling it at the right time, allowing you to attain your investment goals more quickly and efficiently. This way, you will likely save yourself risks that might occur during your ownership period.

Lastly, you should be more specific in your investment goals, which enables you to clearly navigate your property investment journey and fulfil your goals without any fuss or additional cost. If you are clear and realistic in your investment goals, then there are good reasons to invest in property right away.

Analyse Financing Options

Analysing the available financing options will place you in a better position wherein you can better understand and anticipate the overall interest and other crucial factors. It requires extensive research on your part, so that you know the current interest rates and check their feasibility.

Checking your credit score is an essential part of this step. That is because lenders are likely to prefer individuals with satisfactory credit scores. But what if your score is not up to the mark?

Fret not. If that is the case, you should be quick to implement the steps and improve your score, which will save you during the tedious approval or pre-approval process.

Another financing option could be a home equity loan, wherein you can secure an investment property. This option usually offers around 80% of the home’s equity value, which you can use to buy your next dream property. 

Consider Long-Term Expenses

Considering long-term expenses is the next step if you are looking to accrue some financial benefits from your investment. Carefully think through the different expenses that aren’t included in the initial purchase price. These expenses include maintenance and renovation, property taxes, annual insurance charges and more.

To get an estimate of these expenses, you need to analyse the previous bills and communicate with homeowners who have been living in the neighbourhood.

Hence, it becomes all the more important to keep in mind these long-term expenses before plunging into a seemingly optimistic property investment market. That means analysing whether you will get a higher monthly rent or mortgage than the monthly cost of maintenance and repairs.

By taking into account all these factors, you can make a more informed decision that will not only be right for your investment needs but will also give you fewer headaches down the line.

Conclusion

Investing in a property can be a lucrative option once you keep these tips in mind and make your decision based on all the factors listed above. In the post-pandemic world, the outlook of property investment is gradually becoming promising, making it great even for beginner investors.

For those looking to buy property as an investment, make sure you do not put all eggs in one basket, meaning do not invest every penny in your next dream property. It might prove dangerous if your property fails to give you the desired rental income, which happens in many cases. So, place your mindset in the correct order and stay in the game for the long term to survive and win in the end.  

Score Check

If you suspect that you might have adverse credit, then the first thing that you need to do is to check your score. There is no shortage of companies offering free credit reports, where you can check your full credit history. Many of these companies will also make credit card offers to you, although if your score’s very low, then it’s highly unlikely that you will actually be able to take out a credit card. Some score-checking agencies also offer their own credit-building cards, which are worth considering.

Credit Card

A credit card can be an extremely effective way of building one’s credit score. The only caveat is you already have to have a reasonably good score in order to qualify for one, just like a mortgage. If your score’s not great but isn’t really bad, then you may still be able to get a high-interest credit card with an undesirable company. You can then use this card to build up your score, by making every single purchase with it. Your credit card company will report to the credit bureau, noting down every purchase you have made, and every subsequent repayment, which will then increase your score.

Credit Builders

Credit builders are like credit cards, except you don’t get any credit with them. With credit builder cards, you top the card up yourself (and pay the card’s monthly fees), and then make all of your purchases with it. The more top-ups that you make, the higher your score goes. Credit builders are available to people even with the lowest credit scores, so you should be able to get it, no matter your credit score. A credit builder card is usually offered over a twelve-month period, so it is something you will have to commit to short-term.

Paying Bills

In recent years, energy providers have started reporting energy payments to the credit bureau. This means that you can actually boost your credit score by just paying your energy bills on time. If you set up a direct debit with your energy providers, then you won’t even have to lift a finger. It is worth noting, though, that because energy providers report back to the credit bureau, this means that if you miss any payments, your credit score could potentially drop. For this reason, make sure that you have a direct debit set up and money in your account to cover your payments.

Credit Use

A good way to increase your score is to keep your credit usage low, even if you have a credit card. If your short-term debt total is above a certain figure, lenders won’t look favourably upon you, and your score won’t go up. If you do owe a large amount of money on a credit card or to a debtor, then repaying this in full will help your credit score to go up. It should take about a month from the date that you repaid your debt until your credit score goes up again.

Proving Address

A very simple and effective way of increasing one’s score is to prove where you live. If you can prove your address to the credit bureau (such as by signing up for the electoral roll in Britain), then the credit bureau will instantly increase your score by a large margin. Proving one’s address is definitely a very effective way of increasing your credit score, because you don’t have to do much, and don’t have to pay any money toward anything. The longer you stay in an address, the higher your score goes also.

Credit Steps

On most credit score provider sites, they will offer you a series of steps that you can follow, which if followed, will increase your credit score. If the site that you are using offers you credit steps, then it’s a good idea to take them. These credit steps are calculated uniquely for you, by assessing your credit score, and the things that it’s lacking. It’s common to see ‘take a credit card out’ or ‘sign-up for the electoral roll’ in these guides. If you have any queries about your credit steps, you can reach out to the service’s provider and ask for more information.

Open Accounts

It’s a good idea to keep your old accounts open. The longer that you have an account, the better it will be for your credit score. A lot of people close their accounts down once they are done with it, but this is a bad idea. If you have closed accounts on your credit report, then the credit bureau won’t think that you are reliable or may think that you had to close your account because you were in debt or were unable to continue repaying your account. Open accounts with long credit histories are very desirable and can increase your score.

Fraudulent Activity

One last thing to watch out for is fraudulent activity. If a fraudster gains access to your personal and financial information, then they could theoretically sell this information to other criminals, who could, in turn, use it to commit identity fraud. It is very common for criminals to take out credit cards in other people’s names. Obviously, if a credit card was taken out in your name, then this would negatively impact your credit score. If you notice any fraudulent activity on your report, then report it immediately to the credit bureau.

Conclusion

There are many benefits to improving one’s credit score. One of the main ones is greater financial freedom. The better your score, the more likely you will be to qualify for large loans and credit cards, which can positively change your life.

[ymal]

UK Government figures painted a mixed picture in relation to household debt and the pandemic. Savings increased and unsecured debt fell, though total household debt increased by over 2%. However, even if households were able to build savings and reduce unsecured debt over the past 2 years, it seems that a cost-of-living increase may hit many of them in the pocket. 

We are already seeing signs that more and more people are struggling, with an increase of 61% in the number of people taking out debt relief orders (DROs) compared to a year ago. This indicates that there will be increasing numbers of potential homebuyers who will worry that poor credit history will be a barrier to that property purchase. But problems with credit in the past, even in the recent past, don’t necessarily mean you won’t be able to find a mortgage lender. There are steps you can take to improve your chances.

Face your problems

You won’t get anywhere without first acknowledging that you may have a problem. To get an idea of how severe that problem may be, the first thing to do is check your credit history by looking at your credit report. This is easy to do online. Whichever online service you use, your credit report will be created using data from the 3 main credit reference agencies: Experian, Equifax, and TransUnion.

Your credit report contains a score. All reporting organisations have their own scale but you will always be able to tell whether your credit score is ‘good’ or ‘bad’. As the data is always drawn from the same sources, there is no benefit in requesting another report from a different organisation. If your credit score is poor in one report, it will be poor in all of them.

When lenders look at any mortgage application they will take into account any problems you have had with credit in the past. These are shown on your credit report and are used to calculate your ‘score’, while this isn’t the only factor that lenders consider, knowing your credit score will give you a good idea of how lenders will view you.

Try not to make it worse

If you’ve discovered that your bad credit history has given you a poor credit score, there are some things you can do to improve it. You can also make sure that you don’t make it any worse. Some activities will make even specialist bad credit mortgage lenders very cautious about lending to you. The most important thing to avoid is using short-term loans, also known as payday loans. 

You should also make certain that you don’t miss any credit card or loan payments, or use unauthorised overdrafts. Finally, once you have submitted a mortgage application, try not to make any changes to your employment status, for example moving to part-time hours or changing your job role. Showing a consistent long term pattern of employment can help your application succeed.

Can you make immediate improvements?

As well as improving the way you look after your finances, making sure you don’t miss any payments etc, it may be possible to improve your credit report with some quick fixes.

Are you on the electoral register? If you aren’t this can damage your credit score so check, and register if you haven’t already. Also, don’t assume that information on your credit report is correct. Mistakes can happen, and if they do you can apply to have them corrected. Last, but definitely not least, take this chance to ensure that no fraud has occurred. Is there a loan or a credit card application that you don’t recognise? It’s unusual, but identity theft does happen, and if someone has taken out credit in your name it could be damaging your credit score.

Try and increase your deposit

Yes, we know, you’re probably tired of hearing commentators telling you to skip your take-out coffee or take your own lunch to work to save money. The truth is though that a larger deposit can help your chances of securing a mortgage. This is particularly true if you have had financial problems in the past, as lenders will often demand that you put down a larger percentage of the purchase price than buyers with a good credit history.

If you’re thinking of buying your first home, and are under 40, take advantage of the government’s Lifetime ISA scheme, which generates a 25% bonus each tax year on up to £4000 of savings. If you don’t qualify for a Lifetime ISA, at least ensure that any savings you have are in the best place to earn you interest. A potential upside of the cost-of-living increase is an increase in savings account interest rates, so keep an eye out for any changes and take advantage of them.

Organise your paperwork

Problems with mortgage applications can arise for many reasons, including incorrectly completed forms or missing paperwork. If you are already battling against a poor credit history, you want to make the rest of the process go as smoothly as possible. Take some time to get together anything you think you might need such as payslips and bank statements. Knowing what you need can be difficult, which brings us to…

Speak to a bad credit expert

Using a bad credit mortgage service to assist you with getting a mortgage has many advantages. A specialist adverse broker will know what documents lenders want and they’ll make sure forms are filled out accurately and completely, depending on the lender's adverse criteria. For applicants with a really poor credit history, an expert poor credit mortgage broker can be even more advantageous. This is because:

• Every lender has a slightly different set of criteria when assessing applications. Some may be more tolerant of irregular work patterns; others may consider applications from people with CCJs and more serious defaults
• As the financial landscape and customer’s circumstances changes, lenders’ criteria usually also change too
• Specialist brokers build relationships with the best adverse lenders, with over half of the bad credit mortgages not available directly on the high street, this means that they are in the best position to match your circumstances with the most appropriate lender

Conclusion

While applying for a mortgage via a broker won’t absolutely guarantee success, it can certainly improve your chances. We are living in uncertain financial times, but that doesn’t mean you have to put your life on hold. If you are considering buying a property but have concerns about the impact of your credit score, there are things you can do. You don’t have to give up on your dream.

However, business growth can be achieved – some of the world’s biggest companies such as Activision, Seagate, and Virgin Books, an outgrowth of the Virgin Group, started amid 10%+ inflation during the end of the 1970s.

Here are some tips for financing business growth in 2022, even when it seems like a tough hill to climb.

What’s your growth plan?

Though your business may have ideas for growth, what is your plan? You need to create a plan that’s SMART – Specific, Measurable, Achievable, and Time-Limited. That could mean beginning with a vision statement – “20% greater market cap within the next three years.” This contains every attribute of a SMART goal. 

The next step is formulating a strategy and tactics underneath – does the business need more room to operate? Expanding manufacturing? Additional workforce? Vertical integration? What does that look like? Sinking short term liabilities into long-term assets is usually a recipe for disaster. The funding for an asset must match the timeframe of the liability, e.g. a five-year loan for financing a car. 

Finance that optimises growth

Taking on asset finance – especially for real estate – is a sure-fire investment in business growth. After all, investing in land is a great asset as humourist Mark Twain said, “Buy land, they’re not making it anymore.”

Your business may not have to buy land – though it may be a strategy to cut costs and funnel your operations into one that’s more vertically integrated – but growth-oriented assets that not only perform (i.e., are responsible for making profits) but also appreciate in value. 

These are all examples of secured finance – finance that requires a security or collateral for approval. This is usually the asset being purchased, though some lenders may insist on other collateral to be staked instead. There are some non-traditional ways to obtain finance, as we’ve outlined here.

What if your business is lean, agile, or most of its holdings are intellectual property? Even if your business isn’t any of those, you can still fund business growth with unsecured business loans.

Cash flow management

One of the biggest reasons why businesses fail is that they lack proper cash flow management. Taking advantage of unsecured business loans can spur on business growth opportunities – buying inventory, freeing up capital, paying for leases or hiring equipment for specialist contracts, etc. In most cases, unsecured business finance can be accessed within a day – or sometimes a couple of hours.

Unsecured business loans don’t require collateral and can be used for any business purpose. Most unsecured business loans allow you to pay off the balance early – handy if you find your business experiencing rapid growth – which is the aim.

Disclaimer: Always ask your accountant or financial controller for advice before taking out business credit.

For all businesses, but particularly smaller teams and start-ups, networking is essential to building relationships and gaining opportunities to grow the business. These opportunities are more than just referrals for new customers. Networking is a popular way to share ideas and collaborate with fellow business owners. But, networking is a true art form and there are definitely some ‘do’s and don’ts’ to consider for it to be successful. Here are some tips to help you on your way to becoming a networking pro. 

Have Your Elevator Pitch Prepared

No matter where you’re networking, from conferences and tradeshows to dedicated networking events and product launches, having your elevator pitch ready to go can help you engage people and start valuable conversations. Be sure to keep your pitch brief and concise as well as accurate when you’re describing what your business does and who your audience is. The goal is to engage your listener straight away and provide a memorable introduction. 

Prepare Conversation Starters

Socialising with people you’ve never met before can be daunting for some people, but you want to come across as confident and charismatic. Having a few topics or conversation starters you can use to kick off an interaction can ease the anxiety you might be feeling around networking, and it makes conversations lead more naturally than just launching into talking about your business. Maybe you ask someone what they thought of a presentation that’s just taken place, how they feel about the event as a whole or how long they’ve worked in the industry. People enjoy being asked their opinion and it makes the whole conversation flow more naturally and puts everyone at ease. 

Seek Out More Opportunities To Network

Networking doesn’t have to exclusively take place in a formal setting, and there may well be opportunities to build relationships outside of the standard conference or business meeting. Often, the setting can influence how relaxed or formal an interaction feels, so if you’re conscious of this, it may be worth seeking other opportunities to create more genuine contacts. 

Meeting up at sporting events, for example, such as taking part in a round of golf can be great for making face-to-face connections with fellow business owners and encourages friendliness and a bit of healthy competition which can be great for forming friendships as well as business connections. Similarly, volunteering and charity events can be a fun and rewarding way to meet like-minded people. Increasing the range of your network as well as varying how often you network can be useful strategies to take your company’s visibility to the next level.

Don’t Lead With Your Business Card

It’s tempting to launch into a conversation with your contact details in a bid to be remembered, but there’s a time and a place for a card exchange. People don’t want to feel as though they’re just a phone number or an email address, so invest time in making those genuine connections first before you hand over your business card. Ask about their interests, their life outside of the office and what brought them to the event, and listen closely to their responses. The goal of networking is to build a rapport – only then should you ask for the other person’s business card and offer them yours. 

Be Genuine

Speak honestly about your work, your experience and your goals when you’re talking to other people. You want to ensure that you’re always authentic and that the information people can find about you online matches who they meet in person. People can be put off when they sense that someone is putting on a false persona, and it can present your business in a bad light too, so make sure that you’re being truthful to who you are and what you do. 

Don’t Forget To Follow Up

You’re not attending networking events purely to collect contact details, and while you may have received countless business cards over the course of the day, so many people fail to put in the effort to follow up. Even if people express a genuine interest in what you do or the ideas you shared, it’s all too easy for those contacts to simply languish once you return to the daily grind. So, be the exception and make the effort to put a date in the diary to follow up with people you meet and talk further. It can be beneficial to have your calendar accessible when you’re talking with someone so you can book something in straight away, or if scheduling on the day isn’t practical, make sure you follow up within the next 24 hours of meeting them so the meeting is still fresh in both of your minds. 

Don’t Be Afraid To Step Away

Not everyone you meet is going to be someone you have common ground with, and that’s just the nature of networking events. Sometimes, there won’t be those mutual connections and you won’t see eye to eye with everyone you meet. So, don’t be afraid to politely step away from a conversation if it’s looking like this is the case. Be decisive and maybe introduce them to someone else you’ve met on the day before moving on to speak with other people. 

A final note on the subject of business networking. Remember, you’re not just selling your business and services to the people you meet on the day. Every person you meet with has their own personal network too so making a good impression can help you broaden your reach even further through introductions these attendees can provide. Keep these networking tips in mind when you’re building corporate relationships to bring in better opportunities for your company.