Mortgage - Credit score

Cult of Personality

Cult of Personality

Midfield
I've asked for advice on mortgages in the past and had brilliant advice.

My question is what is a realistic credit score for gaining a mortgage for say a house between £60k-£80k (first time buyer)
 


A realistic score is 0 - a credit score doesn't exist.

Questions are do you have:

Defaults
CCJ
Missed payments (lots?)
Other credit which you pay back on time

Lenders will look at this, the score you see means nothing, they don't see this - they see repayment history and active credit.
 
Sleepy said:
A realistic score is 0 - a credit score doesn't exist.

Questions are do you have:

Defaults
CCJ
Missed payments (lots?)
Other credit which you pay back on time

Lenders will look at this, the score you see means nothing, they don't see this - they see repayment history and active credit.
Click to expand...
None of the above. The reason I ask is my credit score whilst not the best is not the worst also, but I've recently been rejected for a £3k loan to consolidate debts.

Everything I have I pay back on time without fail and haven't missed a payment in nearly 2 years (due to the loss of an old job I couldn't make 3 payments in a row on a credit card).
 
Cult of Personality said:
None of the above. The reason I ask is my credit score whilst not the best is not the worst also, but I've recently been rejected for a £3k loan to consolidate debts.

Everything I have I pay back on time without fail and haven't missed a payment in nearly 2 years (due to the loss of an old job I couldn't make 3 payments in a row on a credit card).
Click to expand...

Was the loan rejection the same place as the credit card was? That would make sense.

But if no serious adverse credit you should be fine. Bets advice, get an IFA onto the case and they will look at the whole market for you and give you the best advice.

Everything we can tell you on here is what we think/assumptions/word of mouth etc. You need the experts onto it.

Cult of Personality said:
Ah so I'm assuming for a mortgage they'll do different checks than for a normal loan?

Cheers
Click to expand...

Yep, absolutely. As the mortgage is secured on property for a start.
 
Never not paid owt in my life and got knocked back for a remortgage due to some wank mobile phone company who'd not cancelled a contract as agreed. Hadn't bothered writing to me either. Took a few months to get the bastards to remove their black mark
 
Speak to an IFA if you’re hit and miss, they’ll obviously want to get you signed no matter so they’ll go to lenders that suit your credit history.

They’ll check that trough your free Experian etc. report prior to making an application.
 

Back
Top