Mortgage credit rating???

timbo86

Hi just wondered roughly what sort of credit score was needed for a mortgage in general i now its a rough question was just looking for a rough idea. Thanks in advance!!!

herbiesjp

There is no real right answer here.

The reason being that lenders will use their internal credit scoring systems in order to assess applications.

If you have had no credit problems you should be fine.

If you have slightlt credit problems you should still be fine, however, it may start to affect the rates available.

If you have had severeal issues in the past you will more than likely still get a mortgage agreed, however you will be offered higher rates than standard high street rates

So the actual score may not affect the ability to get a mortgage, but it may affect the rate offered.

HTH

timbo86

My credit is like this over a year ago i missed a credit card payment in october i owed £250 to o2 there was a dispute over this as i argued that the phone was stolen from me in cyprus. Anyway i refused to pay in protest then o2 turned nasty and passed my details onto a debt collection agency i then paid up straight away in full realising my fight was useless. I have an £100 overdraft and have been in that because i was out of a job for a month and had to pay various bits and bobs. I have £450 on my credit card currently. Too me that sounds bad please tell me i will be ok to get a mortgage please!!!!!!!!!!!

herbiesjp

So you have 1 missed credit card payment
You have a dispute over a mobile phone ( you are not the first and will not be the last this happens to)

YOu are running into a £100 overdraft - I assume this is an agreed limit.

You have £450 cc oustanding

To be honest you should hopefully be fine with some high street lenders, aslong as the figures you are looking at are all viable i.e. purchase price, deposit, income etc.

You may want to put a notice of correction on your credit file in relation to the O2 dispute, just so that it is clear why there was a delayed payment to them

HTH

timbo86

Thanks for that much appreciated. The o2 incident was settled as soon they turned nasty and passed it on to a debt collection agency. Would be devasted if this prevented me getting a mortgage. Hopefully all will be good.