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Improving credit rating
nickyn_2
Posts: 1 Newbie
I am new to this so please be gentle and i am not sure if i am in the right section of the site.
I tried to move 4 month but was turned down by numerous mortgagees the main reason being i have moved to three different address in three years due to work. Even though i could put down 25% deposit i put these decisions down to the lack of lending by the mortgage companies. I have recently applied to Halifax to convert mt credit card balance to a loan which is at an interest rate of 18% and not the 30% which is what i am paying on the card . This application was also turned down even though i have been with them for over 3 years and have never missed a payment.
I completed a CreditExpert report and have come up with a score of 534 which is very low and is the reason why i am being declined for each application. The reason for the low score seems to be due to the number of application which is reasonable when applying for a mortgage, several credit arrangements but i only have two credit cards and one personal loan and not on electoral role which i confess i did not think of. The two credit cards are not up to their limit.
Other than the electoral role is there anything i can do to improve the rating? I am in a well paid job which is as secure as it can be, i have a share in an ex matrimonial home and another property in my name but all this does not seem to effect the rating. What am i doing wrong and will i be able to savage this position.
I would really appreciate any help.
I tried to move 4 month but was turned down by numerous mortgagees the main reason being i have moved to three different address in three years due to work. Even though i could put down 25% deposit i put these decisions down to the lack of lending by the mortgage companies. I have recently applied to Halifax to convert mt credit card balance to a loan which is at an interest rate of 18% and not the 30% which is what i am paying on the card . This application was also turned down even though i have been with them for over 3 years and have never missed a payment.
I completed a CreditExpert report and have come up with a score of 534 which is very low and is the reason why i am being declined for each application. The reason for the low score seems to be due to the number of application which is reasonable when applying for a mortgage, several credit arrangements but i only have two credit cards and one personal loan and not on electoral role which i confess i did not think of. The two credit cards are not up to their limit.
Other than the electoral role is there anything i can do to improve the rating? I am in a well paid job which is as secure as it can be, i have a share in an ex matrimonial home and another property in my name but all this does not seem to effect the rating. What am i doing wrong and will i be able to savage this position.
I would really appreciate any help.
0
Comments
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The electoral roll is your primary issue. Fix that, you'll probably start getting the credit you want.Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
Do something amazing. GIVE BLOOD.0
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