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FTB Mortgages
pcd87
Posts: 42 Forumite
Hi All,
Looking for some advice.
Me and my boyfriend are looking to buy a place will probably be 2014.
I have always had some form of credit whether it be a car loan, or a credit card, have always made payments on time etc. My most recent loan finishes in August and then I will have no debt.
My boyfriend however has never really had much credit, He once had a £200 overdraft which he cancelled the next month as he didnt like having debt! He had a store card with £60 on it which he also paid quite quickly, Hes had a few mobile phone contracts and pays the monthly fee to have the extras with his bank.
Based on this would he need more credit to get a mortgage or the fact he has had some credit would work.. And could it be if he needs more credit he gets a 0% interest credit card and puts some things on it and then pays it off or would that not work either?
hes concerned his lack of credit means he wont get a mortgage?
Any advice would be appreciated.
Thanks
Looking for some advice.
Me and my boyfriend are looking to buy a place will probably be 2014.
I have always had some form of credit whether it be a car loan, or a credit card, have always made payments on time etc. My most recent loan finishes in August and then I will have no debt.
My boyfriend however has never really had much credit, He once had a £200 overdraft which he cancelled the next month as he didnt like having debt! He had a store card with £60 on it which he also paid quite quickly, Hes had a few mobile phone contracts and pays the monthly fee to have the extras with his bank.
Based on this would he need more credit to get a mortgage or the fact he has had some credit would work.. And could it be if he needs more credit he gets a 0% interest credit card and puts some things on it and then pays it off or would that not work either?
hes concerned his lack of credit means he wont get a mortgage?
Any advice would be appreciated.
Thanks
0
Comments
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It can only help, having well-managed credit.
Get a card, use it for household expenses and when the statement arrives, pay it off in full, so no interest is paid.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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