Creditworthiness for a mortgage

Sam4free

I intend to go in for a mortgage of about £ 125000 sometime this year.

Was wondering what kind of credit checking is involved and whether i would get a mortgage from a normal lender. I have no adverse credit history, no defaults ever on any credit cards or loans not ccj or anything of the sort.

However strangely, asda turned me down for one of their store cards and barclays too turned me down for a 0% barclay card. Would this indicate that there I might have a problem getting a mortgage.

If any of you could help with your experiences / knowledge, it would be greatly appreciated.

herbiesjp

It could be as simple as you did not score enough points on their scoring system to qualify for the cards.

It could however be because there could be something registered against your name on your credit file (unknown to you).

I have arranged mortgages for people who have had exactly the same concerns as yourself.

It may help you to get a copy of your credit file from either Equifax or Experian - this way you can see what has been registered against your name - it can be an eye opener for a lot of people.

hairy_cornflake_2

Believe it or not - not having any credit commitments can work against you if a lender uses a credit score system!!

You can apply for your credit file from

https://www.experian.co.uk or https://www.equifax.co.uk

there is a small charge of £2.50