FAQ

• What is Upscore

Upscore is a platform that lets you enhance your financial profile for free, enabling you to receive tailored offers both domestically and internationally. We offer two main products: the Finance Passport™ and Credit Score Boost.

Finance Passport™: Take your credit score abroad with Upscore’s Finance Passport™ and secure a mortgage to finance your dream property. Apply remotely, compare rates, and receive personalised support.

Credit Score Boost: Enhance your financial profile by adding key information such as on-time rental payments, daily expenditures, and additional sources of income. This allows you to access better deals from lenders, landlords, retailers, and other service providers. You always remain in control, deciding who can see your information.

• Fees

Upscore is free to use. We earn a fee from financial providers when you contract a product, at no extra cost to you.

• Mortgages Abroad
  • Minimum requirements (might vary per country)
    • Deposit: At least 30% of the property value
    • Age: Applicants must be under 65 years old
    • Employment: Employed for at least two years or self-employed for at least three years
    • Residency: Must reside in the United States, Europe, the Middle East, or Latin America
    • Personal Information: Provide name, surname, email, mobile number and home address
    • Additional information: property value, location, intended use
    • Documents: ID, last three payslips or invoices, last two years of tax returns
  • Minimum loan amount
    • GBP 50,000
  • Current mortgage rates
    • Rates are updated periodically and will vary depending on the lender. Some references below:
      • Europe: 2-5%
      • UK: 4-7%
      • US: 5-8%

• • Do I need to have a property already to apply for a mortgage
    • No, we recommend securing an Agreement in Principle (AIP) first. This agreement with a lender outlines the terms of the mortgage, allowing you to search for properties with confidence

• • Why should I get an Agreement in Principle (AIP) before searching for properties?
    • An AIP ensures that you have preliminary approval from a lender, valid for 3-6 months. This speeds up the buying process and reduces the risk of losing a property to another buyer

• • Are the mortgage rates fixed or variable?
    • Mortgage rates can be fixed, variable, or hybrid, depending on your negotiation with the lender

• • What is the typical term of a mortgage?
    • Mortgage terms typically range from 10 to 35 years, depending on factors like age and income

• • Can I repay my mortgage early?
    • Yes, early repayment is possible, though there may be penalties. This depends on the terms negotiated with your lender

• How it works
  •  Sign up and tell us what financial products you are looking for such as loans, mortgages or simply better returns for your savings
  •  Get rewarded for your spending habits. Share them securely to improve your financial profile
  •  Access targeted offers immediately

Upscore lets you connect your data via secure integrations with providers such as Plaid for banking data or Equifax for your credit data. This way service providers like lenders or mortgage brokers can extend you targeted offers for the products that you are looking for. You can also upload your data manually to use our services. 

Upscore also provides discounts on retail brands, through its relationship with Tillo Limited.

There will be no hard credit search carried out and no impact on your credit report. 

• Why Upscore

Currently, your financial profile is mostly limited to credit you have taken and repaid. If you live on a debit card, never took out a loan, are retired, self-employed or are just getting started, then you have an unfairly low score. With Upscore, you can enrich your financial profile to demonstrate your creditworthiness, maximising your financial potential at home and abroad. 

• Support & Complaints

You can file any complains, seek support or communicate any vulnerabilities by emailing us at info@upscoreapp.com 

• Security

Upscore lets you aggregate your data and share it securely by partnering with FCA-regulated entities such as Plaid for banking data and Equifax for credit reports. Your data is not shared with any third party unless you give express consent. You can always deactivate your data connections from your Profile > Preferences. 

• Legal

Upscore Ltd is registered in England and Wales (Company number 14707637). Registered office: 1-2 Charterhouse Mews, London, England, EC1M 6BB. Licensed by the Information Commissioner’s Office (Licence number ZB533439). Upscore Ltd is authorised and regulated by the Financial Conduct Authority (FCA), reference number 1011029.