When you make a late payment or default on a payment, the lender or creditor reports the information to the credit bureaus. Then, it’s included in your personal credit report, which can then be used to enable other lenders or creditors to make a more informed decision as to whether to extend you credit. If you’re applying for a mortgage and have bad credit, this can affect your ability to secure a loan, but it doesn’t always have to be a complete barrier.

When making what is likely to be the biggest purchase of your life, you want to be sure you get the very best deal possible, but how can you guarantee this? With so many banks, lenders and brokers all waiting eagerly to take your loan application, what can you do to ensure you get a great mortgage deal?