Poor Credit but no defaults, CCJs etc

jeblee_2

I am currently looking to buy my first place, I have £45-50,000 available for a deposit and as its my first place and I'm a low earner I'm only looking at properties of no more than £70,000. Speaking to Barclays on the phone it sounded like there shouldn't be any problems, especially as I've got a high deposit and I'm only borrowing between £20-25,000. She said they'd check my credit to see if there was any missed payments or other debts. I've had a look at my credit score online and I have no missed payments as I've never had a loan/mortgage, I have two credit cards and a phone contract with no missed payments, I'm not associated financially with anyone with bad credit and I'm on the electoral register... but my score is still down as Poor, I know they say that no credit history is just the same as a bad credit history but I would've thought that a 25 year old never in any debt would be a good thing. I've got a feeling they are going to reject me, I tried to get a couple of loans in the past but was refused and Barclays have done this before where they've sounded very positive on the phone but then changed their minds.
I do have the option of getting somewhere a bit smaller and being mortgage free but a few people have said its best to get somewhere bigger with a mortgage so that I've got a better foot in the property market.

Any thoughts as to what you'd do it my place?

Conrad

The large lenders such as Barclays (Woolwich actualy) are sometimes unsuitable for those that need and old fashioned common sense approach, rather than 'computer says no'.

I suspect you might want to look at your small local building societies. Watch out for the Barclays salesperson trying to flog you THIER insurance. You will often find someone like AVIVA will be cheaper.