Can anyone advise about A,B and Credit passes please

Davenewcastle

Hi
Firstly I hope I have posted my question in the right forum as I am new to this. Today I have seen a Lloyds Bank Mortgage Adviser. He was impressed with my credit score of 997 and thought all the other requirements for a mortgage were good. He did a credit search and it showed a good rating. From the information I showed in my credit report he was confused by my rating. He explained that you are marked with an A, B, C or no rating and I had scored B. Basically due to this I would need a 15% deposit unless my rating went up to A then they could offer a mortgage with a 5% or 10% deposit ( I'm a first time buyer) The only thing he could think was making it B instead of A was to consolidate some debts I took out a loan last September. Does anyone know if this could cause me to be a B? If it is do you know how long it may take to go back to being an A like 12 months after the loan etc. i would appreciate any help you could give and again sorry if I have posted this in the wrong forum.
Thanks Dave:beer:

[Deleted User]

I think you need to find a proper broker as the salesman at Lloyds clearly doesn't know what he's talking about. It's very sweet that he's impressed by your credit score but it doesn't mean anything to anyone.

Speak to a broker or pop onto the mortgages boards for some better advice.

Malmo

I second zx81's comment.

The A, B, C rating is simply Lloyds internal scoring system and has no connection with Experian's score, which is not visible or used by any lender and is a marketing feature.

Post your income, purchase price, the LTV that you need, term of mortgage, any outstanding secured and unsecured credit commitments, their balances and when they'll be paid off, any adverse credit issues you've had, their amounts and when (such as late or missed payments, defaults, CCJs etc), whether or not you're on the electoral roll, your age over on the Mortgages & Endowments board and the contributing brokers will provide some guidance.

Davenewcastle

Thanks for your advice to both of you. I have the contact details of a local Mortgage broker I spoke to a few months back so intended to also contact them. I was thinking that the A, B, C thing may just be a Lloyds Bank system too. And did a search on google but couldnt find much which would probably seem to confirm that. Thanks again for your help. Dave