buying house has affected credit score. How can you buy furniture

YorkshireBoy

anotheruser wrote: »

Are you suggesting everyone who has a mortgage has a bad credit rating?

Hardly. o4u is stating that "everyone" who takes on a mortgage and moves home will see their credit rating take a dip.

Just how much of a dip will depend on lots of other factors of course.

CKhalvashi

YorkshireBoy wrote: »

Hardly. o4u is stating that "everyone" who takes on a mortgage and moves home will see their credit rating take a dip.

Just how much of a dip will depend on lots of other factors of course.

We had 7 months of not being able to get credit for the company (and this was when things were good) last time we moved (early 2007), which played havoc with buying a batch of vehicles when the new plates came in (we moved in March, and had to wait until November to place the order).

The problem is, that all the automated systems saw was £503k of additional debt, without realising that we'd actually paid £603k for the house, on top of being offered a 120% mortgage :eek:

anotheruser wrote: »

Get him to apply for this "credit" using his old address. I did this just before I moved and they accepted, but using the new address was refused.
Good companies will ask you to provide another address if you've been in your current one too shorter time for them to get a good rating on you.

I've done this before now (it was a £400k loan agreement for company vehicles), knowing that the house would be empty for a month.

It works, however best course of action is to ensure that all mail is rediverted.

CK

cos_2

YorkshireBoy wrote: »

OP, I had a pair of deckchairs* (back in 1982) until I could afford to buy my suite (with cash).

I read down this thread waiting to post my story. Then I read Yorkshire Boy's post and was gobsmacked because it's my story, too!

I married in 1982 and moved into a council house. Couldn't afford 'proper' furniture so bought two very cheap deckchairs and my wife and I used them for around three months. We then bought a cheap suite that lasted for many years.

Good luck.

hillcats

meer53 wrote: »

Taking out a mortgage wouldn't affect any applications for credit, there must be something he isn't telling you.

Agree, seems strange! We all start off small and build up.

opinions4u wrote: »

... answering the question "time at address?" with one month doesn't help. Especially as you're not on the voters roll.

But isn't this why the question "Any other address' in the previous three years" is asked, to establish your handling of debt ?

seven-day-weekend

We have been married forty-one years and still have second-hand stuff, even though we can afford new. Just had a wonderful blitz on e-bay and charity shops and got loads of stuff for a pittance.

Our son and his girlfriend moved into their flat last year and have mostly second-hand, Argos clearance, IKEA clearance and donated stuff. Some furniture (computer desks etc), they already had.

You don't need to get into debt for a suite.

sfax

hillcats wrote: »

But isn't this why the question "Any other address' in the previous three years" is asked, to establish your handling of debt ?

No, this question is to identify you correctly. If you aren't on the electoral roll at your current address you're higher risk. If you've moved house in the last 2, even 3 years you're higher risk. Lenders don't want to lend to people who keep moving around for obvious reasons

anoncol

So they've spent beyond their means? I can't see getting onto debt a good way to continue.

PasturesNew

With no furniture, I recently got a blow up bed from Argos ... and followed that up with a 2nd hand sofa for £60. And that's still my lot (borrowed a telly and fridge).

It's common for people to wait until they can afford things. Indeed, it's character building (people with posh furniture tell me).

PasturesNew

hillcats wrote: »

We all start off small and build up.

And many people "start again from scratch" for various reasons.