Mortgage With 770 Credit Score

kevsmt5

Hello I will be looking to take out a mortgage based on the following circumstances:
Income 21000
Loan 3000 o.s repayment 85
Credit Card o.s balance - 1300 - to be repaid in full before mortgage.
Purchase Price 70000
Deposit 10000
Current Bank Halifax
Credit Score 770


I will be looking at taking the mortgage around October time.

However the other day i went into Debinhams and applied for a store card to take advantage of a discount and was intending to repay once statement received. However i was declined

I have never missed a payment on my loan or credit card.

There are marked missed payments from a credit card from 5 years ago, for amount of £35 when i had a dispute with Barclays on a final payment on a credit card, it shows 6 payments missed.

I attempted to get a decision in principal with a lender based on my current circumstances however was declined.

I am not looking for a large mortgage and will have a nice deposit, so i cant understand why I would be declined, especially on a store card.

Could anyone shed any light on this for me.

Thanks

kingstreet

Stop paying for the daft "scores" because they mean nothing. People with 999 scores still get declined.

You need to get hold of all three of your statutory credit files;-

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/order.ehtml?prod_cd=UKSCR

Experian

http://www.experian.co.uk/consumer/statutory-report.html#orderReport

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=basket_add&tpl=setRegister&package=63&amount=1&mode=clear

which you should take along to a meeting with a good independent or whole market mortgage broker. Ask friends and relatives for a recommendation. Failing that, use https://www.unbiased.co.uk remembering to switch off "sponsored ads only" option so you get a full list, not just the paid-for adverts.

The £2 statutory paper files will be fine.

The score the lender works from takes into account time at address, time in job, time with bank, phone numbers added to the application, deposit, mortgage amount, property location any number of things.

If you share a surname and initial with a member of your family at a previous address, you may be suffering because of their history. It could be a host of things...

Dave_Ham

Whilst your score is lower than the average score, as Kings. says they are worthless.

Understanding why their algorithm has scored you at that could be important, or a waste of time.

If your credit card is near the limit, this will be one reason and potentially the reason of the Debbo's decline??