how long will it take to improve credit score

changingstars

Me and my partner want to get a mortgage together. I have an excellent credit score but when he checked his in January his was poor.

He has had a car on finance since November which he has paid on time and has not missed any payments and he also has a credit card which he uses every month and pays off.

His debts were paid off fully about a year and half ago.

Is it worth us seeing a mortgage advisor or is it better to wait a while and check his credit score again?

Thanks for any help

The_Boss

Neither of you have a credit score, let alone an "excellent" or "poor" one. This is because credit scores do not exist. When you apply for a mortgage your application will be scored based on responses you give on the application form (such as salary, time with employer etc) and the data on your credit files (not the 'scores' though - lenders do not see these because as mentioned before they do not exist).

Do you or he have any missed payments on past accounts or any defaults? Applied for any pay day loans? How many settled accounts does he/you have? Does he only have the car finance and credit card on file now?

changingstars

He does have missed payments on accounts from about 7years ago. These are all settled now.

Neither of us have applied for a payday loan and yes it is just the car loan and credit card he has.

20aday

changingstars wrote: »

He does have missed payments on accounts from about 7years ago. These are all settled now.

Neither of us have applied for a payday loan and yes it is just the car loan and credit card he has.

If his missed payments are six years or older then they wouldn't show on his credit reports.

The_Boss

20aday wrote: »

If his missed payments are six years or older then they wouldn't show on his credit reports.

Not necessarily. The OP mentions that the accounts are settled - so the missed payments could have been from 7 years ago but if the account was settled 2 years ago then the account will continue to show on file for another 4 years and it will show these missed payments.

For the OP - are you both on the electoral roll? Assuming you want to apply for a mortgage soon I'd suggest getting your £2 statutory reports again so you can both check the data on your reports for any inaccuracies in the meantime. Have you both had many recent credit searches? (in up to the past 9 months)