Mortgage advice with no credit

harrybarber9

Hi all

I wonder if anyone could give me some quick advice. im currently with my long term girlfriend and we are now thinking of moving into/buying a property or at least exploring the idea.

My question is: my gf has no credit history, not even a phone bill, overdraft etc etc so will this effect our chances of getting a mortage? I keep telling her to get a small credit card to help improve but she is not convinced...

i have perfect credit, so this shouldnt be an issue for me - im just worried about her....

any help/advice is most welcome

mutter

Not a reply, I'm afraid, but I'm interested in any answers you get.
My son's girlfriend's parents are in a similar situation - came over from Poland 5 years ago, both working and living in a private rental paying £850 pcm with no housing benefit, have always taken enormous pride in paying for everything up front rather than on credit and don't even have phone contracts.

They'd like to buy, but they seem to be being penalised for not spending money they didn't have!

Any ideas?

kingstreet

On high loan to value/stretched income cases, you may find not having credit means you won't "score" enough to qualify for the mortgage. Obviously, one partner's record can drag up the overall score and it may not be a problem.

If you want a 60% advance on 2 x salary, I'd be surprised if it had an impact.

I believe the advice mentioned is correct. Take a credit card. Use it for purchases. Pay the balance on receipt of the statement and avoid paying interest. This will definitely help.

Also make sure both parties are on the electoral roll.