Credit file and mortgage

Seslea

Hi all. Another post about credit rating and mortgages, I'm afraid, but advice would be very much appreciated

I know it will apply to both my partner and me, but for this I'm specifically asking for myself. We're about a year out from applying for a mortgage and I'm just trying to do a last minute boost to my credit rating. I've never had any defaults or arrears or anything like that.
I joined the MSE Credit Club and Clear Score to check my credit file and all looks good. The only "negatives" were that I live with family and my account history isnt very long.
I've been saving money in 2 different accounts with 5% interest (thanks Money Saving Expert website!) Both accounts have now reverted back to a regular interest and I'm going to continue using the main one. My first question is should I close the other one or just keep a minimal amount in there to avoid having another account with a short history?

I'm debt free, have had a larger amount of money on a store card (no issues and had always paid off monthly) but I paid it off completely about 2 years ago. Now if I use it I pay it off straight away.
My second question is, as I've been living with family for good few years now, I dont have any utilities or other bills so is it worth getting a credit card and doing the grocery shop on it and paying it off each month before I get charged interest?

Thanks advance

[Deleted User]

Ignore the advice about living with family and short account life. Your savings accounts are also irrelevant.

Yes - get a card and clear in full each month.

Seslea

Thanks.
I only mentioned the savings because it's another account that I will have a short history with and I'm not sure if it would be a negative to close it after 12 months or a negative to keep it open but not use it?

[Deleted User]

Either. Doesn't matter.

elleJay42

If you're a first time buyer I hope you have a HTB ISA or LISA, don't miss out on the bonuses, much better than 5% interest I suspect!

Seslea

Oh yes, absolutely
Just didnt want to add in too much unnecessary info, but thank you!

Jmaho

As an Underwriter the main things to focus on are proving you live where you say you do (i.e registering on voters roll) earning what you say you earn (payslips) any credit you have or have had in the past showing no missed or late payments. And conducting your bank account well i. e staying within your overdraft limit, nothing bouncing, can see salary going in and not having loads of debits to gambling websites. Having a credit card won't make any difference

jee

I posted this on another thread: I'm now more than ever convinced of the worthlessness of credit scores. I applied for a remortgage and new mortgage- 2 different mortgages- at the same time with a bad "credit score" of 311. I've received 2 offers at no problem at all. Mortgage credit worthiness increases dramatically with the size of your deposit.

kingstreet

Jmaho wrote: »

conducting your bank account well i. e staying within your overdraft limit, nothing bouncing, can see salary going in

Do you work for a clearing bank, by any chance? They do tend to set great store by current account conduct...

kingstreet

Jmaho wrote: »

Having a credit card won't make any difference

... and take less interest in other issues!

Seslea

Thanks for the replies. Now feeling a little confused haha. I was just following the MSE mortgage guide which is why I was thinking about the credit card.

I'm on the electoral roll, have payslips, no issues with late or missed credit payments, and I never go into my overdraft. I dont really apply for credit often but when I have I've never been rejected. I've just read that having no credit/too much available credit/ no history can also work against you, which is why I thought if I had a credit card that I use and pay off in full each month could help.

But I'm guessing the general consensus is it wouldnt be necessary in this situation?
And that closing the additional current account will be fine?