What is a Credit Score?

A credit score is a numerical expression (3 digits number), which is calculated based on a math analysis of a borrower's credit history. Credit score main appointment is to represent the credit quality of that person and to answer which is the probability that this person will repay the loan in a timely manner. A credit score is originally based on person's credit report history, which is typically stored in credit reference agencies. Many lenders, such as credit card companies or payday loans lenders, use credit score to evaluate the potential financial risk.

Mortgage Cost & Credit Score The latest saga in the mortgage crisis will hurt you if you don't have a good credit score and you want to buy a new house. Rental demand 'to remain strong in 2008' Buy-to-let mortgages could continue to be popular going into 2008 as rental demand remains strong thanks to tough conditions for first-time buyers.

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