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Have I built my credit back to a decent level?
TeaAndToast_2
Posts: 97 Forumite
Hello,
I've been building my credit report back from the depths of doom for the last 2 years and it has now started to rise rapidly. My mum said they would put down a 10k deposit for a mortgage if we wanted it. I don't mind holding off as I've rented for 10 years now. Any advice would be much appreciated.
Clearscore 412.
Noodle 569.
Experian 988.
I've been building my credit report back from the depths of doom for the last 2 years and it has now started to rise rapidly. My mum said they would put down a 10k deposit for a mortgage if we wanted it. I don't mind holding off as I've rented for 10 years now. Any advice would be much appreciated.
Clearscore 412.
Noodle 569.
Experian 988.
0
Comments
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There is no such thing as a credit score. Those scores you have are worthless.
Lenders take the information from your application and the information on your credit report combine it and score your application based on their own system.
What is on your credit report?
Why was it so low?
How much are you hoping to purchase for?I am a Mortgage AdviserYou 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.0 -
What is on your credit report?
Why was it so low?
I had taken out a number of payday loans, no late payments. None taken out for the last year as thet cycle has been broken. There are no defauts or CCJ. I had a series of 3 late payments in 2014 and then 2012 before that for being something like £30 over my overdraft limit.
How much are you hoping to purchase for?
Something around 100k I guess.
Thanks0 -
I think there will be lenders for you now. Not every lender but a couple.I am a Mortgage AdviserYou 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.0
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Could you name any?0
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Were not allowed to go to that level of detail. Brokers on here can only give generic information. If in doubt, speak to a broker, they will know which lenders are most likely to accept you.I am a Mortgage AdviserYou 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.0
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Much appreciated.0
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