Credit rating

Istherehope12

Hi there,

I have recently spoken to a mortgage broker as we were hoping to move. She has taken one look at our credit reports and said that it's not going to be possible, because my husband had 3 missed payments in June on acted it card and one that is on arrangement pay.

The broker said to re look at things early next year, realistically is it possible to increase our credit rating in this time frame?

Hazzinho

There is no credit rating, the number you see is made up and lenders don't see it, just ensure you make the payments and the info is accurate. If your husband has an account in arrangement no mortgage lender will touch you as he is obviously struggling financially.

Istherehope12

Thank you for advice, I will get him to sort that one out and take it offof arrangement.hopefully it might improve his score!

Thrugelmir

Perhaps make an attempt to reduce your debts as well over the coming 12 months or so. Lenders will want to an improving position.

The_Boss

Istherehope12 wrote: »

Thank you for advice, I will get him to sort that one out and take it offof arrangement.hopefully it might improve his score!

There is no "score" either - just like the credit rating, credit scores do not exist.

The reason the broker could tell just by looking is that he knows that he negative data on your husband's credit file will be count against you in an application.