Loans that don’t appear on your Credit Report

[Deleted User]

DMc222 wrote: »

Well once all the reporting debt was cleared my credit score would increase, I would then be chipping away paying the unreported loan thus when it came to the time I applied for a mortgage and I had the loan paid off it would look like I had no debts for a few years

You're still focussing on the useless number.....

There are no "unreported" loans, only those from dodgy loansharks..

You can't cheat the system, and even thinking of doing so is just downright ridiculous.

Why do you think you deserve a mortgage if that's your attitude towards things?

DMc222

Thanks for your words, I was only asking if there was any known companies.

I deserve a mortgage cause I am a hard working tax payer.....who wants to own my own home

[Deleted User]

DMc222 wrote: »

Thanks for your words, I was only asking if there was any known companies.

I deserve a mortgage cause I am a hard working tax payer.....who wants to own my own home

So pay your debts, learn, and don't make the same mistakes again.

Speak to a broker when it comes to the mortgage, especially if you have a limited credit history and/or debts still,

bengalknights

All credit products are reported to CRA's unless your borrowing from friends/family.

Your best bet at mortgage time is to use a all of market broker to get the best product that you meet the criteria for.

worried_jim

I love these threads! Magic beans.

boo_star

DMc222 wrote: »

Thanks for your words, I was only asking if there was any known companies.

I deserve a mortgage cause I am a hard working tax payer.....who wants to own my own home

Nobody deserves anything in life. You earn it.

fatbelly

DMc222 wrote: »

Hi Everyone

I am wondering if there are any lenders who don’t report to any of the Credit Agencies. I am aware that some credit unions (after saving for 3 months) don’t but I want to get a loan that won’t appear on my credit report.

Many Thanks

Credit Unions came to mind for me too. Employer loans, loans from outside the UK. I often see people with loans from Valleys Finance that don't show - that's probably down to their incompetence.

But I think you're coming at this from the wrong angle. A loan from a mainstream lender, with no late payments, will actually improve your credit rating, and that is what you should be aiming for rather than trying to fly under the radar.

You might want a mortgage in a few years' time.

MEM62

DMc222 wrote: »

I deserve a mortgage cause I am a hard working tax payer.....who wants to own my own home

Mortgage lending is not based on what you think you deserve. It is based on what a lender consider you can afford.

Your attempts to manipulate what is shown on the CRA system may or may not be successful but are, ultimately, futile as you will have to declare the loan on the application form anyway. The application form will specifically ask you about any other borrowing.

DMc222

I’m aware hence why I plan on being debt free before applying for the mortgage

mwarby

You'll need to be more than debt free, you'll need to have saved a healthy deposit. If I were you I'd focus on paying down the debt, then building the deposits, by the time you apply the debt should be long gone and all are happy