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Thinking about the future...

matt4504
Posts: 230 Forumite
Yeah I know i'm 21 so this is probably something most 21's don't think about but I think, cus of the six year credit record thing, am I going to be 27 before a bank will give me a mortgage and or decent %'s for things?
It's so far away
Matt
It's so far away

Matt
0
Comments
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Providing you have plans in place to repay your debt over the course of the 6 years, your credit score will slowly improve -
a) because you will be showing consistent payments, ie no late or missed payments
b) as you pay off loans/credit cards you will have less available credit which also improves your score
Ref the mortgage etc. It really depends on the bank/building society. Some will look at your more recent payment history and take that into account, some won't. The only sort of rule is don't get too many searches done by different institutions, as this can negatively affect your credit score
chevI want a job that is less than an hour driving away from my house! Are you listening universe?
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Try not to worry. It idsn't ideal but at least you'll be money savvy when you get you mortgage! And that puts you ahead of the game financially believe me!
Check your credit 'rating' and things might not be as bad as you think anyway!
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