credit rating and mortgage

abbie83

mmmmmmmmmmm

The_Boss

Apology accepted.

You don't have a "credit score", you are referring to a fictitious number that doesnt mean anything. Therefore getting out of the 'very poor' section is also not possible as that doesn't exist either.

abbie83

ooh right! do you have any idea whether what I have mentioned will impact on me getting a mortgage? do lenders not see this number when they do a credit search? thanks for your help

The_Boss

No they don't. They score your application based on their own criteria, data from your credit files and the data you record on your application (salary etc).

How many late payments are recorded on your credit file and how long ago were they?

Caladan

The 'number' is irrelevant, but what has caused it isn't.

Being at or near your credit limits is a bad sign (apparently being about 50% of your available credit is a red flag according to some). Missed payments will be picked up by underwriters too and having £1200 of unsecured debt will obviously be taken into account.

If you can, you'd be best off repaying all of the debt before applying for a Mortgage as it will open up the best deals for you, but lenders will lend to people with less than perfect credit depending on their own criteria.

abbie83

thank you
there are numerous late payts. ive been so stupid, there have been none this year and that's as good as I can get. am I right in thinking the past 6-12 months of punctual payts are the main thing they look for?

The_Boss

abbie83 wrote: »

thank you
there are numerous late payts. ive been so stupid, there have been none this year and that's as good as I can get. am I right in thinking the past 6-12 months of punctual payts are the main thing they look for?

Not necessarily; but generally the further in the past the better

abbie83

thanks for your help

YorkshireBoy

Do you have any other well managed credit facilities showing on your credit report, or just these poorly managed ones?

abbie83

yes I have my mobile bills and british gas bills showing on there fine. I have an old next account on there with 0 balance showing all green for payments.