Improving my credit score

Trying82

I've recently obtained my credit report and it was poor! Although I do have current credit, I also have 5 default accounts, 2 CCJ's (one was issued last week) for a 6 year old debt and many many settled accounts.

I'm trying to save for a mortgage deposit and this has disheartened me, I plan on spending the next 3/4 clearing as much accounts as possible including the ones which I am not in default on.

What is the likelyhood of me getting accepted for a mortgage in the next 12 months, I am single, on 30k, I was saving between 15/20%. Of a 110k mortgage.

Nasqueron

You would have to go to a specialist broker and have a high deposit, and you are highly unlikely to get a low rate prime lender.

If single and in work, why haven't you used the money over time to pay off debts before they got to default / CCJ status as your salary went up? They will stay on the account for 6 years after issue (though you can get rid of one CCJ if you pay up immediately I believe)

DCFC79

Your credit score is irrelevant, focus on the saving up, clearing your debts and make sure you don't run up any more debts.

Thrugelmir

Trying82 wrote: »

I'm trying to save for a mortgage deposit and this has disheartened me,

Sounds as if you've been sticking your head in the sand. Tackle your debts head on. As no mortgage lender is going to consider you until you demonstrate an ability to manage your personal financial affairs properly. This in itself will provide you with an adequate credit rating.