Mortages and credit scores

westie666

This is a quick thick question,

Me and my partner are looking to buy our first house. I know my credit score is a bit iffy, will this have any affect on us getting a mortgge or the rate that we get??

Bernard_Coleslaw

It may do. Many mortgage lenders now operate credit scoring alongside, or instead of, traditional underwriting methods. Having said that, all is not lost as your score on its own will not be all they're looking at when they decide whether to lend to you.

Your best bet is to get proper, independent mortgage advice. There are lenders who can help you, and an independent "all-of-market" mortgage advisor should be able to look through the options for you.

Good luck.

BC

blacksta

Please try

https://www.mwgb.co.uk/ no fees charged. Helped me recently with a remortgage

The_Boss

With us, it wasnt a case of the lender deciding a rate based on credit score, it was the amount we could borrow was based on that. For example, with a poor credit score, Northern Rock would only lend 3.1 times the combined salary compared with 4.8 times with a good rating.