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Does being mortgage free affect your credit rating?
William_Mateless
Posts: 26 Forumite
This has probabaly been asked before but when you have paid off your mortgage I guess it doesn't show up that you are making regular mortgage payments, is that a bad thing for your credit score?
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Comments
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I actually have no idea, but I guess if you're worried you could maintain a credit card that you pay off in full each month? I use one for the cashback :money:Saving for an early retirement!0
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Getting rid of your mortgage means that you have an asset IE your home!
Most people now have several credit agreements ie Gas, electric, mobile phone, credit cards, car loans, 0% deals on sofa,s ETC
Having no mortgage will not effect your credit score0 -
Getting rid of your mortgage means that you have an asset IE your home!
Most people now have several credit agreements ie Gas, electric, mobile phone, credit cards, car loans, 0% deals on sofa,s ETC
Having no mortgage will not effect your credit score
That's what I hoped but it's a crazy world!!!0
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