We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Credit Report Before Mortgage Application
laura84gr
Posts: 44 Forumite
Hey guys,
I am currently saving for a deposit to buy a house and will continue saving through 2017 with the plan to get a mortgage early into 2018.
I paid off all my debt last year after being really terrible with money for years. My credit reports all looks ok, With the exception of 9 late payments. 7 of these will drop off by the end of next year. Which will leave 2 from 2013.
All 3 give me high scores (which I am aware doesnt count for much) and I have 3 credit cards that I settle in full ever month. The total limits on the cards is £18k.
Will these 2 late payments have any effect on me being able to get a mortgage? I only use my credit cards for everyday spending, mostly to ensure I have enough direct debits for my 3 BOS current accounts. I'll be opening another couple of current accounts in 2017. Will opening new accounts affect my mortgage application?
Many thanks.
I am currently saving for a deposit to buy a house and will continue saving through 2017 with the plan to get a mortgage early into 2018.
I paid off all my debt last year after being really terrible with money for years. My credit reports all looks ok, With the exception of 9 late payments. 7 of these will drop off by the end of next year. Which will leave 2 from 2013.
All 3 give me high scores (which I am aware doesnt count for much) and I have 3 credit cards that I settle in full ever month. The total limits on the cards is £18k.
Will these 2 late payments have any effect on me being able to get a mortgage? I only use my credit cards for everyday spending, mostly to ensure I have enough direct debits for my 3 BOS current accounts. I'll be opening another couple of current accounts in 2017. Will opening new accounts affect my mortgage application?
Many thanks.
0
Comments
-
If you're still a year away from a mortgage, I wouldn't worry too much.0
-
I'm not worrying too much.
As I continue to save I'll continue to open current accounts to earn as much interest as possible, however if this will have an effect on my morgage application then I wouldn't open anymore.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards