First time buyers help please!

MortgageMamma

I can't give official advice on here! The FSA would throttle me! I only wish I could though sometimes

Careful_girl

Well at least offer some unofficial, inoffensive, helpful ideas then.:p Oh and read the questions carefully.:rotfl:
CG.:j

MortgageMamma

Careful_girl wrote:

Well at least offer some unofficial, inoffensive, helpful ideas then.:p Oh and read the questions carefully.:rotfl:
CG.:j

I take it the emphasis is on inoffensive then :rolleyes:

Good job, as it happens Ive had a massive amount of commission paid this morning and just happen to be in a good mood and looking forward to spending it!

I will be back giving the usual reliable straight to the point unofficial comments once I've had me supernoodles.

amsutt98

Hiya
Im really thankful for your time trying to give me your advise, does anyone have any advise on a good way to start improving my partners credit score as this is all in his past now (naughty teens) and really regrets it and wants to know how to put it right. Is it taken into account that its not loads of money just £1400 left to pay off and my credit rating is good?
Thanks

MortgageMamma

NO problem, feel free to click my thanks button as much as you like!

The only way to repair your partners credit score is to begin repaying anything outstanding, and pay all credit commitments he now has on time religiously, to give a good track record of payment. If he doesn't have much credit now, it would be a good idea to take a small amount of credit to establish the record.

If you have not already I would order a copy of his credit report from equifax or experian, to check all the info they hold is accurate, and if not inform them as such. Its also a good idea to put a not under the defaults/ccjs explaining that they are being paid now etc etc, this is called a notice of correction

nbbradshaw

It maybe worth visiting the NBS website dedicated to 1st time buyers

http://online.newcastle.co.uk/FTB/Home/Mortgage_Micro_Site.htm

amsutt98

Oh i didn't know you could do that, we've had a credit report for him, when the lender gets the application do they read through the credit report or do they just base it on the score? Because i've heard that if you apply and get refused you lose points thats why im scared to apply untill it seems the right time, is that the best thing to do?

MortgageMamma

At initial agreement in principle stage they will just do a quick check using your score. Upon full application most underwriters will look into a credit report in more detail. This is why I stressed the importance of taking advice and approaching the right lender, on the right product. as multiple applications will create footprints on your credit rating and will damage it. Don't let that worry you though, a decent advisor should be able to place your business easily. HTH

MM