first time mortgage advice please

gary83

hi,

Im currently saving my deposit to make the big plunge, although it wont be for another 18 months yet with things being the way they are at work at the moment, I'm on around £37,000 a year with accomodation provided so have been saving for the deposit, on budget for £50,000 deposit + £15000 funds for january 2012,

have been looking at a few house prices and salary multiples so thought i shouldnt have any problems aiming between £130,000 and £175,000, the one thing that could hold me back is the credit score. I've always been carefull with money, never been overdrawn, never had a loan, the car was paid for up front the only regular monthly bill being the phone and internet but obviously this could come back to bite me when im after the mortgage, would it be such a problem? and what could i do in the 18 months to improve it? is it worth taking out a credit card and paying it off each month, just to show i can do it as it were?

poppy_f1

get a credit card and pay it in full every month, in 18 months that can do a lot of help

even a mobile phone contract could help

beecher2

make sure you're on the electoral roll too.

gary83

everythings always been bought when i could afford it, insurance paid up front etc. do have a mobile phone & mobile internet bills monthly and will have been on the electoral roll for 10 years when the time to but comes around, am very secure long term jobwise, just seems strupid that you could be punished for not running up debts in the situation the country finds itself at the moment...

anyhoo if thats what it takes thats what it takes, does it matter how much is spent on the card if its paid off every month? or do they just look at it as its being paid in full on time? regardless of how big/small it is?