No Credit Card?

twhatmough

My wife has never had a credit card, nor a mortgage. Does this mean that she will be at a disadvantage if she wants to get a mortgage, as she will have no credit history?

Sublime_2

Wouldn't have thought so, but may be wrong, as long as she is on the electoral roll.

anna42hmr

martin was just on gmtv and mentioned it can be hard if has no proven credit history, has she ever had catalogues or a contract mobile phone or a bank loan, as they can help, he was just recommending that for those with no credit history to check they are on the electoral role and also to apply for a credit card, spend £50 a month on it and pay it in full each and every month to build a credit history

Innocent_Guy

She will be at a disadvantage as she has no way to prove she is a responsable borrower

Sublime_2

Yes you're right, but surely no credit history is better than bad credit history, and being on the electoral roll does count towards your credit rating. Also income should be taken into account.

anna42hmr

Sublime wrote: »

Yes you're right, but surely no credit history is better than bad credit history, and being on the electoral roll does count towards your credit rating. Also income should be taken into account.

however with no proven credit history, the lender would have no idea if she will be a bad risk or a good risk? yes bad credit history is not good, however they would know the risk they are looking at, whereas with someone with no history, they would not necessarily know what risk this person is.

Innocent_Guy

Sublime wrote: »

Yes you're right, but surely no credit history is better than bad credit history, and being on the electoral roll does count towards your credit rating. Also income should be taken into account.

When I was just 18 I applied for a mobile phone contract and got declined. My friend that was with me applied and got accepted. he had CCJ's and defaults, late and missed payments however the lender knew what they were getting with him. It is RIDICULOUS however that is the way of the credit lottery......

Kavanne

My bf had no credit history when we applied for a joint mortgage but I did so I think that helped. We did get accepted but we went through an independent advisor.

anna42hmr

OP - martin is doing a programme on itv this week (friday) at 8pm, between the 2 eps of corrie, and it is about credit secrets etc so you may want to watch that