Your credit score is a number that shows how well you’ve managed money in the past. It’s based on things like:
Lenders use this score to decide if they’ll give you a loan and what kind of deal you’ll get. A higher score usually means you’re seen as less risky, so you’re more likely to get approved with a better interest rate.
Easy. At Acceptance Finance, we use a trusted credit reporting agency called Illion to check your score. One of our friendly brokers can order your credit report for free and then help you understand what your score means and what steps you can take next.
Acceptance Finance brokers can view you score using the ‘Access Seeker’ method, which doesn’t impact you credit score.
Illion scores range from 0 to 1000. Here’s a quick guide:
If your score isn’t where you want it to be, don’t panic. There are plenty of ways to improve it, and we’ll walk you through them.
When you apply for a home loan, your credit score can affect:
Some lenders are more flexible than others, especially when it comes to first-home buyers. That’s where we come in, as we work with over 40 lenders and can help match you with the one that suits your situation best.
That’s okay. A lower score doesn’t mean you can’t get a loan, it just means your options might be a bit more limited. Some lenders specialise in helping people with less-than-perfect credit.
You might need to pay a slightly higher interest rate or provide a bigger deposit, but it’s still possible to get into your first home.
There are a few reasons your score might not be as high as you’d like:
Even if you’ve never missed a payment, just not having much credit history can keep your score lower. But that’s something you can work on.
Here are some simple steps you can take:
Improving your score takes time, but every little bit helps—and we’re here to support you along the way.
Yes, you can. Some lenders offer loans specifically for people with bad credit. These loans might come with:
But they can still be a great stepping stone into the property market. We’ll help you understand your options and find a lender that works for you.
Yes, it can. If you’ve been renting and always paid on time, that’s a big plus. Some lenders will accept your rental history as proof that you’re financially responsible—even if you haven’t saved up a big deposit.
In fact, rental history can sometimes be used instead of what’s called “genuine savings.” Normally, lenders want to see that you’ve saved at least 5 percent of the property price yourself. But if you’ve been renting consistently and paying on time, that might count instead.
To use your rental history as genuine savings, you’ll usually need:
Not all lenders accept this, but we know which ones do, and we’ll help you apply to the right one.
You’re not alone. A lot of first-home buyers assume they won’t get approved, but that’s often not the case. Sometimes the biggest barrier is just not knowing what’s possible.
There are also government schemes that can help, like:
And if you have family who are willing to help, there are family guarantee loans that can reduce the need for a deposit altogether.
Buying your first home is a big step, but you don’t have to do it alone. Whether your credit score needs work, you’re not sure how much you need to save, or you just want someone to explain your options, our mortgage brokers are here for you.
At Acceptance Finance, we’ll:
