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Credit history with fully paid accounts affecting mortgage app

LilyE1234
LilyE1234 Posts: 2 Newbie
Fifth Anniversary
in Mortgages & endowments
I’m wondering if anyone here has an experience with applying for a mortgage with an excellent credit score but not as good credit history. 

I am looking at applying for a mortgage imminently - £120k joint income, £100k deposit and 1 car loan (my partners) so on the surface we should be ok! 

However, I have credit file history with lots of loans and credit cards - all now closed and fully paid with no missed payments. 

Will this be held against us? 

Thank you. 

Comments

  • Hoenir
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    No reason why it should. 
  • BarelySentientAI
    BarelySentientAI Posts: 2,448 Forumite
    1,000 Posts Name Dropper
    LilyE1234 said:

    fully paid with no missed payments. 

    Doesn't sound like a "not so good" history to me.  Sounds like a pretty good one.
  • ACG
    ACG Posts: 24,712 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    You took out loans and paid them off? 
    Oh my god, how could you! haha.

    Stop worrying, you will be fine. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • born_again
    born_again Posts: 21,469 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    LilyE1234 said:
    I’m wondering if anyone here has an experience with applying for a mortgage with an excellent credit score but not as good credit history. 

    I am looking at applying for a mortgage imminently - £120k joint income, £100k deposit and 1 car loan (my partners) so on the surface we should be ok! 

    However, I have credit file history with lots of loans and credit cards - all now closed and fully paid with no missed payments. 

    Will this be held against us? 

    Thank you. 
    Poor credit history relates to missing payments, not taking & paying off loans..

    So no they will not affect you 👍
    Life in the slow lane
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