looking for a mortgage with a bad score

Dave_Ham

Conrad wrote: »

Low incomes and past history will be an issue with regards to lender credit scoring systems. Maybe try lenders that do not use credit scoring. Smaller Building Societies often do not credit score.

Don't try Santander.
Personally I'm more or less certain all these will decline;

Woolwich / Barclays
HSBC
RBS / Natwest
Halifax / C&G / Lloyds
Northern Rock / Virgin
Accord
Nationwide


So if it were me I'd avoid those lenders as you will get a decline, and have unecessary credit searches.

Rubbish - I would be more or less certain that we do not have enough information to make sweeping statements like this.

I read your information that you missed some payments a few years ago, although no defaults and no CCJ's and the debt repaid.

Subject to other credit being well functioned and well managed this adverse may be gone, or at worst mitigated.

Obviously, we cannot tell too much as I have to try and interpret your grammar which is hard work.

Get your scores, go to someone locally and they will be more informed to share an opinion and achieve a solution.

Good luck

Conrad

william1986 wrote: »

what other lenders could we try.

I don't like bandying about names in case it comes back to haunt me!

Try a good broker near you.
Also you trying direct could be trickey as the application must be presented in best possible light much like a cv. That doesn't mean fraud, it means things like using a decent job title (a caretaker = a maintenance manager), landline phones, citing Bank youve been with longest (rather than giving say a new joint account only opened recently) and so on.

william1986

sorry i am rushing as i am nervous. so it is more to do with the history rather than score. as i am getting confused. do they look at recent history due to myself working finances out. or do they look at score. what is a good score and what is a bad score.

Dave_Ham

We say credit profile, report or score but we do not mean a physical score.

Credit Expert give you that "score" which is worthless. No defaults and no CCj's and no 3 markers mean most lenders may be ok so long as some good recent indicators...

Fact partners is good also helps..

william1986

yea the amber and red indicators were for last year. so its looking better then and i shouldnt worry too much then. would canceling those cards also help my chnaces. considering one is a credit card.

Dave_Ham

Not really, using them and paying the amount off in full each month would look better...

william1986

if they have nothing on should i just cancel the card as i have been told if i go for a mortage and it isnt being used it will go against me.

Dave_Ham

Thats a myth - unless you have a £100k limit.

Suggest you use for petrol or groceries or whatever and pay off each month. It will show any potential lenders you can manage your finances appropriately and responsibly..

william1986

if i do another credit score check on a different site would that effect my score. as i just want to know a score and something that explains it before we do anything.

Dave_Ham

william1986 wrote: »

if i do another credit score check on a different site would that effect my score. as i just want to know a score and something that explains it before we do anything.

Going over old ground now - I am out.. (well leaving the office in any case)

You will not get what you are after - speak to a professional face to face.