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Credit Card and Mortgages

My son wants to apply for a mortgage and does not have credit cards. He has car loan which he is paying now and has completed paying in the past. Does he need to show credit history history regarding a credit card to improve his chances of getting a mortgage? Any advice greatly appreciated.

Comments

  • If your son has a bank account, a car loan, is registered in the electoral roll, all his addresses are consistent and he has had these for a couple of years he should already have a decent credit history if he's made all payments on time an maintained his accounts well. It isn't absolutely necessary that you need to have operated a credit card to have an acceptable credit history for a mortgage.

    He should contact a broker (lots of fee-free brokers around, check the MSE page on mortgage brokers ) and get them to look at the particulars of his situation and advise on if he can realistically get a mortgage and if so how much he can borrow.
    tanyat wrote: »
    My son wants to apply for a mortgage and does not have credit cards. He has car loan which he is paying now and has completed paying in the past. Does he need to show credit history history regarding a credit card to improve his chances of getting a mortgage? Any advice greatly appreciated.
  • Thanks for advice and taking time to reply.
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