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My wife has bad credit score even though she has never been in debt!
itgoodson
Posts: 145 Forumite
My wife and are are wanting to take out a 90% mortgage on a £100,000 house we like.
We can afford the mortgage no problems.
After speaking to a broker it seems that the best deal for us is with the nationwide on their 2 year fixed at around 4.84%.
However, my wife was recently (in November) refused a mobile phone contract. Totally bizzare - she has never used her overdraft, has plenty of savings, used her credit card very sparingly but always paid it off in full each month.
But after speaking to a mortgage advisor from Nationwide on the phone he said that if my wife had been refused a mobile phone contract it is very unlikely she will be given a mortgage.
It is completely bizzare and just shows how unreliable the drecit socring system is - it makes no provision for someone like my wife who is incredibly responsible with money.
Does anyone have any advice. We have tried to get the credit report off the Experian website, but we were told to send in more details to prove identity. We have had several addresses over the last couple of years (we were both students and moved around quite a bit) and we have just found out we are not on the electroal role. I have taken steps to rectify this but it won't be updated until 1st march at the best.
Does anyone have some advice for us? If i was to have an interview with a lender face-to-face rather than a broker can they go past the credit score system if they can see from our own records that we are very responsible?
Or could we ask my in-laws to acts a guarantors? Or doe sthis puch up the price of the mortgage?
Any advice gratefully recieved!
ian
We can afford the mortgage no problems.
After speaking to a broker it seems that the best deal for us is with the nationwide on their 2 year fixed at around 4.84%.
However, my wife was recently (in November) refused a mobile phone contract. Totally bizzare - she has never used her overdraft, has plenty of savings, used her credit card very sparingly but always paid it off in full each month.
But after speaking to a mortgage advisor from Nationwide on the phone he said that if my wife had been refused a mobile phone contract it is very unlikely she will be given a mortgage.
It is completely bizzare and just shows how unreliable the drecit socring system is - it makes no provision for someone like my wife who is incredibly responsible with money.
Does anyone have any advice. We have tried to get the credit report off the Experian website, but we were told to send in more details to prove identity. We have had several addresses over the last couple of years (we were both students and moved around quite a bit) and we have just found out we are not on the electroal role. I have taken steps to rectify this but it won't be updated until 1st march at the best.
Does anyone have some advice for us? If i was to have an interview with a lender face-to-face rather than a broker can they go past the credit score system if they can see from our own records that we are very responsible?
Or could we ask my in-laws to acts a guarantors? Or doe sthis puch up the price of the mortgage?
Any advice gratefully recieved!
ian
0
Comments
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might be the moving around - expecially if you are not on the electoral roll0
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The other irony of this system is that if you don't borrow and make repayments with any regularity you effectively don't have a credit history at all.
When my ex wife moved to the country we had to get here small loans and credit cards (which she actually didn't need) but so she could make all the payments on time to generate a history.
Little bit of a nonsense system if you ask me.0
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