importance of a landline and credit rating.

dera2005

Hi,

Sorry if this is in the wrong place. But i wanted some advice on the affects of not having a landline would have on my credit rating.

Like thousands of other people i am currently tied to having a landline in order to get broadband. However the opportunity has come about that i can switch to another provider without the need for a landline, However the sales person advised that it is extremely beneficial to have a land line to prevent problems on any future credit applications.

Since apparently it boosts your chances of acceptance if a credit provider can see you have a land line number on the application when applying

Can anyone shed some light and let me know if there is any truth in this. Since i am looking to apply for a mortgage in the next 10 months and don't want to get knocked down in internal scoring because of having no landline.The main reason for ditching the landline was to save a few quid since i never use it. But if its important then i guess i will just keep it,

Please let me know,

TIA

Dera.

[Deleted User]

It varies. Some lenders place a lot of importance on it - probably more at the lower end of the market where lenders are looking for some measure of stability.

But if you genuinely don't need one, personally I would lose it.

Bogalot

I don't have a landline and have never had a problem getting mainstream credit.

I'd agree with zx81 that it may be more of an issue with sub prime lenders, who are more likely to have to chase for payment!

redux

I don't know how the lack of a landline phone number might affect your credit rating, but it is possible to have one (or more) and possibly cheaper calls from various VoIP providers, using your data connection.