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Will my credit score suffer because I don't have a mortgage?

Will my credit score suffer because I don't have a mortgage?

Lenders want to know if you can reliably keep up to date with monthly repayments, and so showing that you can repay a mortgage may boost your credit score. On the other hand, showing that you can manage credit accounts (for example a loan or a credit card), could also help you to boost your credit score.

Your credit score is only one of the factors that will be considered during any credit assessment.

You can check your full credit report, track your credit score, and monitor changes to your credit file using Know Your Credit Score in the Royal Bank of Scotland mobile app. Opt in today via the mobile app. Data provided by TransUnion. Criteria applies.

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