Mortgage application declined - no recent credit history

Miss_Merlot

I had the same problem - there is a bit more advice below:

https://forums.moneysavingexpert.com/discussion/comment/60711523#Comment_60711523

Luckily, as am on the Electoral Roll, have a phone contract, and was buying with someone with a more substantial credit history, I still scraped through.

I do definitely agree it is unfair to penalise people who spend within their means - and not sure how I got this far in life as well without cottoning on that I was supposed to be building a credit history all this time...

witchy1066

Calamity Jen ,
we have the same problem, it seems crazy to me ,that someone who has lived within their means and saved, is refused a mortgage,

could someone please advice people like us, how to get something that already exists (credit card, phone and broadband accounts )added to a credit report,

Regards
J

Calamity_Jen

hamster2013 wrote: »

what is holding you to talk to your own bank ?

Mainly because the rates are good - our plan was to try and find a mortgage with a lowish rate(guess that's everyone's aim!), which would mean lower repayments for the fixed term. We could then build up some more savings in the event that interest rates soared and we couldn't get another fixed deal - savings would then be our fallback if the repayments became really high.

hamster2013 wrote: »

upgrade to an advice account with them and get a great rate at lower fee's.... plus it will include worldwide travel insurance and car breakdown.: just these two will pay for the account.

Sorry, I have no idea what this is, or how I would get one!

Just out of interest, does anyone know if there is a way I can prove that I can handle my finances? Would anywhere accept bank statements etc? I can prove that I've managed to pay my rent in full and on time every month for the last 8 years!

We also now have an appointment with the estate agent on Saturday, so we will see what they say. Trying to get an appointment with the bank as well. As an aside, I did speak to one of their call centre mortgage advisers on the phone - for some reason he seemed to find it all very amusing...

Dave_Ham

Speak to a recommended broker and away from the Estate Agent is the general rule of thumb...

This should be achievable from the information provided..