Buying a house?

[Deleted User]

Just curious.

Suppose you bought a house for cash.

Would anyone search your Credit File?

Would the house purchase appear on your Credit File?

If yes, would it be a good or bad thing, from the POV of your Credit Rating?

Tixy

No.

No.

N/A.

alexanderalexander

When I bought a house my solicitors did a search on my file, with the purpose described as "Anti-Money Laundering". I doubt that the search would have any effect on my credit rating though -- it is only ones to check a credit application which'd be likely to do that.

StuC75

The only possible searches could be ID checks by your solicitor - as part of confirming who you are. There may be more questions \ background checks to confirm source of funds - so a good trail of bank statements showing the money building up would be a good idea.

The credit 'rating' may improve since you would be seen to be Home Owner with No Mortgage - so gives a bit more 'stability' to your profile and applications you may make..

[Deleted User]

StuC75 wrote: »

so a good trail of bank statements showing the money building up would be a good idea.

What it came from a Lottery win?

Tixy

Bedsit_Bob wrote: »

What it came from a Lottery win?

You'd likely show them a bank statement showing £xmillion credit being received from Camelot UK Lotteries Ltd