Really confused buy it all! Independent help?

beckysheffield

Hello,

I’ve always worked on a cash basis and now I want to get a house. I realize that my PAYG phone and no debt has really worked aganist me.

I’ve read some of these forums but I would like to speak to someone face to face. Are there such people where I can pay cash and get factual information where I can get clarity?

Everyone on this board is great, I’m just suffering from a bit of a memory freeze due to medication.

Thanks

sourcrates

Hi Becky,


What information, in particular, do you want ?


Just because you may pay for advice, does not mean that advice is any better.

beckysheffield

I!!!8217;m just wanting to know about what I should be doing to get a house. I think it!!!8217;s credit rating but I!!!8217;m really not sure.

beckysheffield

I do not know what a credit rating is and if mine is bad etc.

I nearly bought a car on finance but decided on cash. Hope that!!!8217;s not bad.

sourcrates

Well the good news is that no one has a universal credit score or rating.
Lenders judge you on your credit history, if you have a bank account, it will be reported to the credit reference agencies, likewise a lot of utility providers now report to them also, are you on the electoral role at your current address ?


You would be well advised to check your credit reports before doing anything else, there are a number of free ways to do this, normally a lack of credit history would not be a barr to getting a mortgage, you may have to pay a larger deposit, or accept a higher interest rate, but it should be possible.


If its mortgage advice you need, face to face, then Google is your friend, look for an advisor near your home, and make an appointment.

beckysheffield

Thanks

I saw an independent mortgage broker and he said everything was possible. Of which I didn!!!8217;t believe him as I!!!8217;ve been trawling this forum and a few horror stories.

I did the electrical roll at my parents as I was living overseas for 8 years. Big headache.

I!!!8217;ve tried to check my reports but they can!!!8217;t find me. Combination of living overseas and being in student houses I would think.

beckysheffield

!!!8220;Buy it all!!!8221; lol

System

What timescale are you looking at for buying? Assuming in 6-12 months or so, first thing to do would be to make sure you're on the electoral roll at your current address. Next would be to build some history of being responsible with credit and a way to do this would be to take out a credit card, any card doesn't matter how much the interest is or what limit they give you, do some of your normal spending on it every month such as fuel for your car instead of paying in cash and set up a direct debit with the credit card online account to clear the card in full every month. This way you build up a credit record and pay no interest whilst you do it.

Thrugelmir

beckysheffield wrote: »

I did the electrical roll at my parents as I was living overseas for 8 years. Big headache.

When did you return ?

beckysheffield

Thrugelmir wrote: »

When did you return ?

Few months

beckysheffield

Tarambor wrote: »

What timescale are you looking at for buying? Assuming in 6-12 months or so, first thing to do would be to make sure you're on the electoral roll at your current address. Next would be to build some history of being responsible with credit and a way to do this would be to take out a credit card, any card doesn't matter how much the interest is or what limit they give you, do some of your normal spending on it every month such as fuel for your car instead of paying in cash and set up a direct debit with the credit card online account to clear the card in full every month. This way you build up a credit record and pay no interest whilst you do it.

Thanks. Would the credit card companies decline me? Is it bad to ask? What can I do? I know of Vanquis, I’m just not ready to apply without the green light from a “knowledgeable” person.