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First Time buyer - help needed
charlesworth82
Posts: 313 Forumite
Hi all,
After some advice. I am purchasing a house for 100k, I have a 5k deposit. The problem is my credit score is not very good. I dont have any bad credit but because I only finished uni a few years back I've never had anything on credit (excpet a mobile phone). I currently private rent and dont have any debts other than my student loan (10k).
How much do you think this will affect my chances of getting a mortgage?? I have tried one company and so far things are going ok - just waiting to hear from the head office.
After some advice. I am purchasing a house for 100k, I have a 5k deposit. The problem is my credit score is not very good. I dont have any bad credit but because I only finished uni a few years back I've never had anything on credit (excpet a mobile phone). I currently private rent and dont have any debts other than my student loan (10k).
How much do you think this will affect my chances of getting a mortgage?? I have tried one company and so far things are going ok - just waiting to hear from the head office.
‘It ain’t over 'til it's over’
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Comments
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The mobile phone can be a source of credit as are student loans. Did the landlord/letting agency do a credit check on you ? Why don't you find out who wants to know about your credit history. Put the facts straight if they are incorrect.
J_B.0 -
thanks for that - yes the landlord did a credit check. I also have a credit card - which i always pay (usually the entire amount each month)‘It ain’t over 'til it's over’0
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charlesworth82 wrote:thanks for that - yes the landlord did a credit check. I also have a credit card - which i always pay (usually the entire amount each month)
Then to be honest you have a track record of managing your credit and if thee aren't any problems going back you should be ok.
Discuss this with your broker.
Hope this helps
SSI am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
As long as your income is sufficent to support the mortgage and other debts you should be okI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Hi thanks for the replies. Am hoping to hear back tomorrow/thurs so will let you know how it goes.‘It ain’t over 'til it's over’0
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