Looking to buy a house, but no credit?

clutton_2

there seems no rhyme nor reason for credit refusals - i was refused a new mobile phone about 2 years ago.. and yet i have many mortgages, all with totally upto date payment schedules, several credit cards at that time, and on the electoral roll...

btw - is illegal to not be on the roll.. even if you dont vote...

every time someone does a "Search" for you on any of the 3 Credit status companies. that leaves a footprint... too many footprints could be interpreted as fraudulent attempts to get credit

your best bet is to get a new credit card, (if your old one has expired it will probably have been cancelled) and use it to pay as much as you can - even small amounts of petrol, and pay it off each month... every month you pay it all off a "0" appears on your record... the more "zeros" the better......

then apply for a mortgage

minirolo2004

clutton wrote: »

there seems no rhyme nor reason for credit refusals - i was refused a new mobile phone about 2 years ago.. and yet i have many mortgages, all with totally upto date payment schedules, several credit cards at that time, and on the electoral roll...

btw - is illegal to not be on the roll.. even if you dont vote...

No kidding - a mystery!

In the armed forces - different kettle of fish for us re: the electoral roll if we live on the base itself.

Nixer

I don't think you are going to have problems getting a mortgage at all - you haven't got bad credit and you can presumably prove that you are able to pay it back, plus you have a healthy deposit.

Possibly the mobile phone provider made a mistake but credit is a bit mysterious. I've been turned down for a credit card once and I believe that was because I always paid my other cards off in full each month, so the only money they were going to make out of me was the amount I was spending each month which wasn't a lot. I got my reports from Experian and Equifax and they were all clean. I have successfully applied for credit cards since so I think it was a quirk of that provider - I reapplied with them 18 months after being turned down and they turned me down again.

RobertoMoir

The credit scoring is a bit of a game as people say. As for making no sense - it makes no sense if we think of it in terms of us getting the credit we want when we want it, but that isn't the game the lenders are playing. They're trying to solve their problems, not our problems.

minirolo2004

pinkshoes wrote: »

Why don't you use Experian to check your credit rating online. I think you can sign up for a free trial (but don't forget to cancel...).

This should tell you if there's anything suspicious on your file.

So, this went well. They are asking for 2 of my recent utililty bills and a copy of my passport...it appears they are struggling to ascertain who I am...encouraging Guess we will see how Friday goes with the IFA.

DVardysShadow

clutton wrote: »

...
btw - is illegal to not be on the roll.. even if you dont vote...

Are you sure? I thought the illegal thing is not filling in the form for all eligible voters in the household, which is slightly different.

Fire_Fox

minirolo2004 wrote: »

So, this went well. They are asking for 2 of my recent utililty bills and a copy of my passport...it appears they are struggling to ascertain who I am...encouraging Guess we will see how Friday goes with the IFA.

When I did Experian and Equifax one was a lot more security conscious than the other (can't recall which sorry ). They asked security questions about long defunct credit cards which I failed miserably; they probably can't ask you similar questions if you have never had credit.

Mankysteve

Soot2006 wrote: »

he managed to fix us a decent deal with Northern Rock --

I'am the only one that this statement made me smile. No offence intended to the poster.

BitterAndTwisted

I must be a saddo because I smirked as well