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Building up creator history - how long

beckysheffield
beckysheffield Posts: 328 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
in Mortgages & endowments
I’m an expat and built up a deposit Overseas. I have no credit, ideas of how to change this? I could perhaps have a 40% deposit on a small studio.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The simplest route to build a credit file is to make sure you're on the ER, then get a credit card, use it and clear in full each month.

    Manage it responsibly and over time, opportunities will open up. Try an eligibility checker, but you are probably looking at one of the sub prime lenders to begin with.

    A couple of years of solid behaviour should put you in a much better position.
  • ACG
    ACG Posts: 24,690 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    How long have you been in the UK?
    With a 40% deposit, you will probably have options even with a limited credit history.
    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.
  • beckysheffield
    beckysheffield Posts: 328 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    I’ve been away for 8 years. I’m just recently back.
  • ACG
    ACG Posts: 24,690 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    There are lenders who will consider you.
    A 40% deposit will help, but probably one for an experienced broker.
    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.
  • anselld
    anselld Posts: 8,667 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    beckysheffield wrote: »
    Building up creator history

    A few thousand years should do it.
  • beckysheffield
    beckysheffield Posts: 328 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    anselld wrote: »
    A few thousand years should do it.

    Lol I’m not sure why I wrote creditor history.
  • beckysheffield
    beckysheffield Posts: 328 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    ACG wrote: »
    There are lenders who will consider you.
    A 40% deposit will help, but probably one for an experienced broker.

    I went to one today.... seemed too easy. Said I needed to pass credit check and I can get a small mortgage.
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