Mortgage & credit issues
Discussion
I'm a potential first time buyer - work for the local council under self employed status - regular income etc.. I have seemingly no credit issues - I don't owe a bean to anyone. I've made an offer on a £120k house and have £40k deposit.
The building society have mentioned that a credit issue has come up but are as yet unspecific.
The only thing it could be was that I bought a domain name from 1&1 in 2013 and never used it - £14.
This year they made a demand for renewal - I didn't want it so explained to them that I wasn't renewing. Another demand came - to which I replied - it was then sent to a creditor - I rang up 1&1 and they said I had to cancel by phone before the due renewal date.
I paid the creditor £30 -
Would this really affect my chances?!
That's my only credit issue I can think of...
If they say 'no' - could I get a joint mortgage with my brother?
Thanks in advance
The building society have mentioned that a credit issue has come up but are as yet unspecific.
The only thing it could be was that I bought a domain name from 1&1 in 2013 and never used it - £14.
This year they made a demand for renewal - I didn't want it so explained to them that I wasn't renewing. Another demand came - to which I replied - it was then sent to a creditor - I rang up 1&1 and they said I had to cancel by phone before the due renewal date.
I paid the creditor £30 -
Would this really affect my chances?!
That's my only credit issue I can think of...
If they say 'no' - could I get a joint mortgage with my brother?
Thanks in advance
I registered with experian last night, however the pin code is being sent by snail mail, ffs...
I use a Natwest credit card twice monthly but not excessively and have recently registered on the electoral roll in the town I'm currently renting a property in.. Might be a combination of all three... Still waiting to hear from building society.
Using credit. Damned if you do, damned if you don't ...
I use a Natwest credit card twice monthly but not excessively and have recently registered on the electoral roll in the town I'm currently renting a property in.. Might be a combination of all three... Still waiting to hear from building society.
Using credit. Damned if you do, damned if you don't ...
Thanks. It's with the Cumberland Building Society. They've been ok as of now.
The whole credit thing seems absolute madness to me. I've never been in serious debt - always paid off what I owe, never really gone into my overdraft facility. Always lived within my means, yet I still get penalised.
The whole credit thing seems absolute madness to me. I've never been in serious debt - always paid off what I owe, never really gone into my overdraft facility. Always lived within my means, yet I still get penalised.
Dawg said:
Thanks. It's with the Cumberland Building Society. They've been ok as of now.
The whole credit thing seems absolute madness to me. I've never been in serious debt - always paid off what I owe, never really gone into my overdraft facility. Always lived within my means, yet I still get penalised.
How did you end up applying to such a small regional lender??The whole credit thing seems absolute madness to me. I've never been in serious debt - always paid off what I owe, never really gone into my overdraft facility. Always lived within my means, yet I still get penalised.
Expect things to happen slooooooowly with such a lender.
With regards to credit, lenders often deem a lack of credit history as almost as bad as adverse credit history sometimes. If they can't see any record of you successfully maintaining debt/credit, how do they know how you will manage it when you have a huge debt?
Sorry - your first question
I went with the Cumberland because a friend who was also self employed and had great difficulty with other lenders went there and was eventually successful. I'm asking to borrow less and am in a better position as regards regular income so I thought it'd be a doddle.
But no....
I went with the Cumberland because a friend who was also self employed and had great difficulty with other lenders went there and was eventually successful. I'm asking to borrow less and am in a better position as regards regular income so I thought it'd be a doddle.
But no....
Could be anything Dawg, and you can almost never second guess it.
Happened to me twice.
One was someone with the same name and a similar age to be being declared bankrupt.
The other was a loan I took out years ago where and admin back up at Santander had failed to set up the direct debit and their system had auto-reported the account when the first payment was never received on time.
Happened to me twice.
One was someone with the same name and a similar age to be being declared bankrupt.
The other was a loan I took out years ago where and admin back up at Santander had failed to set up the direct debit and their system had auto-reported the account when the first payment was never received on time.
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