Credit rating and mortgages

redsclubbedup

Hi there,

I am looking to take out a mortgage with my girlfriend. Having checked my credit report I have a rating of 999 with experian, which I thought was great news, as Britannia, whom we a re curently looking at for a mortgage (with 15% deposit), use Experian to varify the claim.

However I have also been told that having such a high rating could affect me, as it means that the bank doesn't stand to make much money out of me - is this true to only be the case with credit cards, or with the mortgage too ???

_Andy_

That isn't the case at all.
Bear in mind though that the so-called 'scores' are meaningless as each lender scores in its own way

Mini_Bear

That mentality m ainly existed with credit cards and loans.
I cant imagine many banks wanting to take on a "riskier" home owner in the current climate. they could end up with a serious headache - missed mortgage payments (ie no lovely interest), the home owners could turn in2 squatters, trash the house, while all the time the asset is depreciating.
im sure banks want perfect credit rating applicants at the mo!

emmalita

i checked mine last month and it was 850,just applied for mortgage with halifax and its been fasttracked,surveyor instructed immediatley

redsclubbedup

thats great news thanks for the info