hessitant first time buyer

FLUFFINGTON_2

After searching for ages on the web I havent been able to simple an answer im looking for to what i thought was a simple questions.
I know credit scores graded up to a 1000 points
but what levels are considered good credit/bad credit/ok credit and so on.?
for instance 600 ok 910 superb
if anyone knows about this put me out of my misery.
myself and my husband want to apply for our first mortgage and we know what our credit scores are but we do not want great big footprints over our credit reports so we want to make sure now is the right time to apply

homer_j_3

if you check your credit file on https://www.creditexpert.co.uk and get your score from there - credit report should be free if you cancel your account within 30 days and a credit score will be £4.99.

900-1000 is excellent -700-900 is good - 500-700 is average/fair - 300-500 is low etc. I cant guarantee these to be accurate but they wont be far off.

The problem is that each lender credit scores differently and whilst your credit file is a big consideration, there is statistical modeling techniques used also. That said, if you get your credit file and take it to a decent broker they will have a pretty good idea who will and will not accept you.

FLUFFINGTON_2

thank you very much it seemed like a basic thing but i couldnt find the information anywhere.
i think we should be ok my score is 815 and my husband sis 750 .so fingers crossed.
do you now if lenders would consider lending 3.75 to 4 times your income for first time buyers? or is the 3.5times your income usually the absolute maximum

herbiesjp

Those scores are fine

However remember that the internal scoring systems that lenders use are all slightly different, so they way they score it will also be different.

You should find plenty of lenders that could agree 4 times joint income - however this will depend on your overall scenario, i.e. other debts you may have, children, employment status, address history status etc

HTH