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    • McKneff
    • By McKneff 19th Dec 12, 12:07 AM
    • 35,404 Posts
    • 45,565 Thanks
    McKneff
    • #2
    • 19th Dec 12, 12:07 AM
    • #2
    • 19th Dec 12, 12:07 AM
    You really need to see the status of your credit file first before anyone can help you.
    No one can make you feel inferior without your consent
    • CKhalvashi
    • By CKhalvashi 19th Dec 12, 4:27 AM
    • 8,559 Posts
    • 24,198 Thanks
    CKhalvashi
    • #3
    • 19th Dec 12, 4:27 AM
    • #3
    • 19th Dec 12, 4:27 AM
    What McKneff said.

    The other thing to bear in mind here is that you will need a more/less perfect rating before being able to gain a mortgage. I'm having problems remortgaging our BTL's at the moment, as even though there's nothing adverse in the payment history, I have personal guarantees on a large amount of business finance, which has to be declared also. I've traditionally been a high earner.

    If a lender doesn't like anything on the report, it may lead to problems later on, so assuming things stay the way they are, you may have difficulties gaining anything until it drops off the file, as it's a truthful representation of your past finances.

    Every time I go into the bank to do a few routine transactions, I'm told that I'm entitled to an extra £xx000 on an OD/CC or £50000 on an unsecured loan (I think the total I'm offered in Internet Banking is about £90k more than I have access to,) but the same bank won't remortgage risk they already have. Different products have different procedures.

    CK
    "I kada sanjamo san, nek bude hiljadu raznih boja" (L. Stamenkovic)

    Call me Remainer or Romaniac, but not Remoaner. It's insulting and I have the right to have my voice heard too.

    I can spell, my iPad can't.
  • CAB National Representative
    • #4
    • 20th Dec 12, 12:34 PM
    • #4
    • 20th Dec 12, 12:34 PM
    I have a very poor credit rating due to being a fool when i was younger, recently i tried gaining credit but was turned down. I was wondering if, paying back my debts now, albeit late would increase my rating enough to be considered/accepted for a mortgage? any insight into this would help so much. thanks.
    Originally posted by Luke_B
    Hi Luke - our CAB reprentatives have been covering credit ratings on the board and we'd recommend taking a look at the information that we've got on our Adviceguide website, and also requesting a copy of your credit file. If you need any more help after that, we'd suggest contacting your local bureau.
    Official CAB Representative
    I am an official representative of CAB. MSE has given permission for me to post in response to questions on the CAB Board. You can see my name on the companies with permission to post list. If you believe I’ve broken any rules please report my post to forumteam@moneysavingexpert.com as usual"
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