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Credit History/Score Building
Hiya i need some advice and help please.
im new to these forums so dont give me a hard time if i posted in wrong section.
anyways. my dilema.
im 34yrs old and have a "LACK" of credit history.. this is mainly due to myself being aggorpheobic.. hence living with family/gf in the past and all bills have not been in my name.
i didnt even have a bank account upto 9 months ago.
anyways i do work and earn decent money from home.. and have recently applied for a mortgage and a credit card. but i keep getting declined for a CC .. and when i ring my bank for a debit card they say i cant due to lack of credit history.
now with my bank i now have had my bills in my name for nearly 12 months. never missed any payments.. several dd's in my name in my bank. and never once gone overdrawn or had a dd bounce. also end of the month i always have money left in my account.
as said above i do earn decent money 22k+ pa (compared to many that is)
And i have just applied for a mortgage (i also have a 15% deposit to put down) and im scared my lack ofcredit"history" will spoil my chances of having my dream come true of owning my own property.
any financial guru's out there able to give me any suggestions or ideas on how to boost my credit history and credit score so i can get a mortgage/CC easy ? as with now living alone in rented accomodation and having aggoraphobia a credit cardis essential to me for buying shopping and personal stuff for myself.. and ofc in turn boost credit score to giv me more chance of getting a mortgage.
ty for all... if any rpelies.
im new to these forums so dont give me a hard time if i posted in wrong section.
anyways. my dilema.
im 34yrs old and have a "LACK" of credit history.. this is mainly due to myself being aggorpheobic.. hence living with family/gf in the past and all bills have not been in my name.
i didnt even have a bank account upto 9 months ago.
anyways i do work and earn decent money from home.. and have recently applied for a mortgage and a credit card. but i keep getting declined for a CC .. and when i ring my bank for a debit card they say i cant due to lack of credit history.
now with my bank i now have had my bills in my name for nearly 12 months. never missed any payments.. several dd's in my name in my bank. and never once gone overdrawn or had a dd bounce. also end of the month i always have money left in my account.
as said above i do earn decent money 22k+ pa (compared to many that is)
And i have just applied for a mortgage (i also have a 15% deposit to put down) and im scared my lack ofcredit"history" will spoil my chances of having my dream come true of owning my own property.
any financial guru's out there able to give me any suggestions or ideas on how to boost my credit history and credit score so i can get a mortgage/CC easy ? as with now living alone in rented accomodation and having aggoraphobia a credit cardis essential to me for buying shopping and personal stuff for myself.. and ofc in turn boost credit score to giv me more chance of getting a mortgage.
ty for all... if any rpelies.
0
Comments
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Hi and welcome to the forum.
My first bit of advice would be to not worry about buying a house just now as
1. You will probably get the same thing for less in 2009
and 2. You will not get a decent rate just yet.
Have you made lots of credit applications recently? If yes then I would avoid applying for anything else for 6 months. After that time I would suggest a card aimed at credit building (see the subprime credit card club in the credit cards section)
This will help you build up some credit rating for mortgage companies and in the meantime you can continue to add to your deposit to try and turn 15% into 20% which will open more doors for you!
Good Luck0 -
Hi - I may be wrong but I think lenders base mortgages on slightly different lending criteria than loans or credit cards. The last time I changed my mortgage, I was told that affordability was the main issue they considered - amongst others.Almost debt-free, but certainly even with the Banks!0
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ty for replys so far..
@1st poster.. no i havent applied for any crdit (apart from credit card) last 6 months+ have just applied for one of those sub capital one cc's tho.. ty for directing me there.
@2nd poster the affordbility for me for mortgage im after is fine.. its only a 100k mortage afte deposit paid (117k offer was accepted)which equates to 635 a month mortgage +200'ish for bills and i take home 1.4-1.5k a month so well within my limits. so hopefully all be good.
im just worried lack of credit history my screw me over as application tries go through.0 -
Spam reportedFind out who you are and do that on purpose (thanks to Owain Wyn Jones quoting Dolly Parton)0
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