Credit rating for mortgage.

nathan1986

Hi guys.

A couple of years ago I tried to get a mortgage with no success. I plan to try again in a year or so when two defaults drop off my credit file.

Am I right in assuming they drop off 6 years from the default date? Not long too go if that's the case!

One slight worry. I have two current accounts. One with Nstwest which I have had for 10 years and up until 18 months ago I got paid into this account. (now living in Australia, so get paid into my Aussie account). This account does not show on my credit file?

I have a barclays current which has a couple of hundred pounds in but I have never been paid into and rarely use.

I was declined for a mortgage presumably because of the defaults. Now I'm thinking maybe it looks to a lender like I never even had an income? And that I lied about how much I earn because it does not correspond with my credit report?

Nathan

nathan1986

Anyone have any ideas?

Nathan

kingstreet

You live in Australia and are trying to buy in the UK?

Credit reports don't show income. They show your electoral roll history, public record and account information and details of searches carried out in the last two years.

nathan1986

I do currently live in Australia but will be returning in a few years. I would ideally like to buy a property sometime between now and then to move into when I get home. Renting it out for the time before I return would also be an advantage.

I have managed to save a good deposit and feel while prices are low it may be an ideal time. I know this is debatable.

November 2012 is when my credit rating is completely clear so if I don't msnage to find a lender before then I will have to ride it out I guess.

Thank you dogaids for the tip about the lender. In this particular case I need to find a lender who does mortgages for expatriates which narrows my option but I will look at them, thanks