Credit rating

welshyb

I have no ccj or defaults on my credit rating but my credit rating is only showing fair, I have a very account £200 with a available balance of £2000, contract phone and a loan for a car through credit union as there interest rate is so low.also have a account with ikano through Harveys. I have nearly paid all this off as i pay more than the the minimum payment. Me and my husband have a joint bank account and he has a contract phone, and a studio account and his credit rating is good.. We are saving for a mortgage atm so looking to buy next year so everything will be paid off by then. But i am a bit worried as i do not work as i care for our son so i get carers allowence tax credit, child benifit and my sons dla and my husband works full time. Am i right in thinking my husband would only get the mortgage on his own???:question:

System

Forget the rating, forget the number, only you see it and not any lenders. It has absolutely no worth at all.

What is important is the contents of your file, how much you're borrowing, any missed/late payments or arrears, defaults, CCJs etc.

Nebulous2

welshyb wrote: »

I have no ccj or defaults on my credit rating but my credit rating is only showing fair, I have a very account £200 with a available balance of £2000, contract phone and a loan for a car through credit union as there interest rate is so low.also have a account with ikano through Harveys. I have nearly paid all this off as i pay more than the the minimum payment. Me and my husband have a joint bank account and he has a contract phone, and a studio account and his credit rating is good.. We are saving for a mortgage atm so looking to buy next year so everything will be paid off by then. But i am a bit worried as i do not work as i care for our son so i get carers allowence tax credit, child benifit and my sons dla and my husband works full time. Am i right in thinking my husband would only get the mortgage on his own???:question:

You'd be better off posting in the mortgage forum as some brokers post there. How lenders deal with state benefits is complicated.

Get the fundamentals right though. Make sure you are on the electoral roll, make payments on time, reduce debt and build as big a deposit as you can.

sourcrates

The "credit rating number" rises and falls with the wind, it should not be taken as an indicator of weather a loan offer will be made to you or not.

It is just one factor among many, that are taken into account when applying for a mortgage, good credit history, and affordability are more important factors.