THE COSTS OF POOR CREDIT

To see how your credit score can impact what you pay back on a mortgage, simply enter your credit score and mortgage amount required below.

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The Cost of Your Credit Score

With a credit score of , you could pay more than if you had a 'clean' credit history.

Interest rates used are indicative of those available today. However, these can go up and down over the term of the mortgage, which will affect the total amount payable.

The difference between a “good” and a “bad” credit score could be the difference between making and missing payments on a mobile phone bill, loan or credit card, or just over-spending on credit and living off payday loans. These may feel relatively insignificant in isolation, but if they accumulate, they may have a big impact on the overall cost of your mortgage.

It is not too late, however. You may still get a mortgage even if you think you have a “bad” credit score, but whatever you can do to avoid this early will help significantly now.

* There are many more factors in addition to your credit score that influence the interest rate you pay, but this is illustrative of the impact it could have. The calculations are reflective of capital and interest mortgages; the results will be different for an interest-only mortgage.