Lifetime ISA - credit score

Kae1994

Hi,

I have a query about lifetime ISA’s that I haven’t yet found an answer to. I’d like to open one to start saving for a house deposit. However I’d like to know if my credit score will affect my ability to open a Lifetime ISA?

Any advice is helpful!
Thank you

Zorillo

It will not.

pinknsparkly

what (s)he said ^

Your credit score has absolutely no impact on opening savings accounts, it is only a consideration when trying to borrow money (mortgages, loans,credit cards etc)

eskbanker

pinknsparkly wrote: »

what (s)he said ^

Your credit score has absolutely no impact on opening savings accounts, it is only a consideration when trying to borrow money (mortgages, loans,credit cards etc)

The usual comment on this applies - prospective lenders can't take your credit score into consideration at all, as they don't see it, but will instead access your credit history and feed some or all of the raw data into their own risk management algorithms and processes, etc, rather than using those owned by the credit rating agencies....