getting accepted,

jachowden

I am currently working on building my credit rating and showing a good repayment history so that i can eventually get a mortgage, i am wondering if theres anybody on mse who knows a lot about mortgages or even works as a mortgage lender who can give me some advice on building my credit rating towards getting accepted, like what would impress a mortgage lender ect, basicaly how do i become what they are looking for,

opinions4u

1) Be registered to vote where you live.

2) Pay all your bills on time.

3) Save a big deposit ... not just the minimum a lender requires.

4) Borrow less than the maximum a lender will let you have.

5) Stay at the same address.

6) Stay with the same employer.

Wh05apk

A good credit rating is only part of the whole picture, lenders use a score card based on upto 150 factors such as length of time in employment/type of job (an accountant will score higher than a brickie) the lenders tend to keep the specifics secret, but the obvious ones are voters roll and ensuring all your credit is spot on.

Ensure you have a credit card, use it, and ensure it is repaid in full monthly, make sure you are on the Voters roll, but apart from that forget about it, to positively improve a score could take a couple of years.

Thrugelmir

opinions4u wrote: »

3) Save a big deposit ... not just the minimum a lender requires.

I would add to this. Save with the lender you wish to borrow from. Both Halifax and NW have regular saving schemes for example.

As the fact that regular sums can be saved demonstrates an ability to manage personal finances well.