Mortgage Refeered HELP

FTBHELP_2

I had no credit rating as I never ever had a credit card loan etc therefore was just trying to build it up.

Just hope natwest has only used the one search (Equifax) as well as there own internal scoring then we should (fingers crossed) be ok

jamesd

If you want some reliable things to do to increase your credit rating:

1. the mortgage. Mortgage payments always on time are great. So is being a home owner even with mortgage it helps the stability score.
2. two credit cards, both used a little each month and always paid off in full. Direct debit for at least minimum payment to ensure it's never missed.
3. a moderate sized personal loan -a few thousand - where you pay off most of the money after a month or so. Then for the rest of the loan term you get regular on time payment markers added to your credit record while paying almost nothing in interest. Loan as well as cards because the types of credit matter.

All of these are relevant only where they are visible at the credit reference agency or agencies used by the place you're applying to, so if doing this sort of thing you would look for places that use and report to as many CRAs as possible.

There are assorted more esoteric things that can be done but those and being on the electoral roll are the easy to do things that are likely to get you most of the available benefit.

FTBHELP_2

Natwest search Eq & Ex just poped up on both now

lizards

Coincidentally we just applied for a mortgage via a broker who selected NatWest yesterday. Equifax shows two searches, one under generic and one under credit. Today Experian just shows a generic credit search, not a full one. So it looks like they use Equifax for most of it maybe?

I have no idea what they see based on which type of searches, mind you.

Mocha61

When my daughter recently applied for mortgage she was asked if she had credit cards, which she didnt, but i think if you have and pay regularly and dont get behind with payments then this can help with mortgage because it shows that you are responsible in making your payments.

FTBHELP_2

Lizards how do you tell what search they have done as is they only done a quick check with experian we may be ok

FTBHELP_2

lizards wrote: »

Coincidentally we just applied for a mortgage via a broker who selected NatWest yesterday. Equifax shows two searches, one under generic and one under credit. Today Experian just shows a generic credit search, not a full one. So it looks like they use Equifax for most of it maybe?

I have no idea what they see based on which type of searches, mind you.

Does any one know if they do search differently ??

japmis

jamesd wrote: »

If you want some reliable things to do to increase your credit rating:

1. the mortgage. Mortgage payments always on time are great. So is being a home owner even with mortgage it helps the stability score.
2. two credit cards, both used a little each month and always paid off in full. Direct debit for at least minimum payment to ensure it's never missed.
3. a moderate sized personal loan -a few thousand - where you pay off most of the money after a month or so. Then for the rest of the loan term you get regular on time payment markers added to your credit record while paying almost nothing in interest. Loan as well as cards because the types of credit matter.

And get yourself on the electoral roll

:money:

lizards

With Experian it just said "Identification: Generic Check" and Experian said there are "no recent searches". It was filed next to things like Carphone Warehouse who did an ID check when I bought a SIM free phone with no credit (WHY DO THEY CARE?!) - basically just checking I exist with Experian I guess.

Whereas Equifax had that check listed under "Other Searches", plus under "Credit Searches" they had:
"09/03/2015 Credit Search Natwest Mbl/tpi/countrywide Opt In"

I know no more than that, but I'm assuming they're using Equifax for the detailed search, not Experian, as Kingstreet says. Perhaps MSE reckons both because it does appear on both but the other isn't a full search?

FTBHELP_2

Just spoke with EX and they have said NW would have extracted a full report, mines showing in the "How may credit applications have you made in the last six months ? " section. Once expanded (clicked on) it states search by NW, entry num P1, app type - first mortgage, amount - ££££££, name dob add. Is this what yours says ?