Regarding the lack of credit score?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
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JoeCrystalJoeCrystal Forumite
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edited 30 November -1 at 1:00AM in Mortgages & Endowments
Hi, all

There is something I was wondering about when checking on HSBC site to see what is possible to borrow. I know the fact that banks do credit checks.

But as I never borrowed any money from the banks in the past, would that count as a disadvantage and lower the amount the banks willing to lend? :( Would having a good deposit help in that aspect?

Thank you for any comments.


  • ACGACG Forumite
    21.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    There are many many different factors when scoring your application.
    The amount of credit you have had in the past will imact your overall score. The lack of credit should not reduce how much you can lend, although some lenders MAY limit the maximum LTV if you do not score up.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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