Low Credit Rating and Partner has a good Credit Rating.

Richie143

Hello all. I am 29 years old and I have a low credit rating and my girl has a good one. We are looking to buy a house we have deposit saved up. I have a default on my account which goes off on 23 August and I have a satisfied CCJ for £215.
Anyone give any advice so I can build my credit rating enough so we can get a mortgage.

Tixy

How old is the CCJ?

With the CCJ on file it is going to be difficult to get accepted for a mortgage. There may be some lenders who would consider you for a mortgage with the CCJ still on file, but they will likely require a higher % deposit and the rates won't be very competitive.

Probably your best bet would be to speak to an independant mortgage broker after the default has dropped off.

The other alternative might be if your gf could get a mortgage just in her name, although obviously that would depend on how much she earns compared to what she wants to borrow. If you did consider this option then get a deed of trust drawn up between you with regards to the deposit contribution.

Richie143

The CCJ is about four years old. After the default is removed will my credit score be affect? We have saved up for a 20% deposit. What can I do to improve my credit score in the meanwhile.

Tixy

The potential lender does not see a credit score but the raw data from your credit file.

Even with the default gone the fact that you have a CCJ will mean that a high number of lenders will automatically decline you.

With a 20% deposit you may find a lender willing to lend to you even with the CCJ, but it probably won't be a mainstream lender which is why using a broker is a good idea.

There is nothing you can do that will negate the CCJ on your credit file, however are you on the electoral roll? do you have any other current credit accounts? do you have any debts?

Richie143

I have no other debts. I have a T mobile and an EE account. I am on the electoral roll. Is there anything else I can do to improve my credit score?

Gaz83

Richie143 wrote: »

I have no other debts. I have a T mobile and an EE account. I am on the electoral roll. Is there anything else I can do to improve my credit score?

First thing to do would be to actually read the previous post and see what it says about credit scores.

You might try getting a credit card, using it every month and paying it off in full. This will help to build a good credit profile.