credit rating

[stephen2504]

could anyone tell me how a mortgage company does a credit rating what do they look at and have access to its just that i pay all my bills every month and then waste the rest im always using my overdraft i was thinking if i got a relative to put 10000 in my account just while i was applying for a transfer of equity it would help

[Ethel]

If you always pay your bills on time, have no ccjs or arrears the bank will consider you a safe bet, depending on your income of course.

[Oneeyedvic]

the mortgage company will possibly ask for your bank statemetns - and then ask the qeustion of where the �10,000 came from and why. You will then be forced to admit the truth " i did it to try an dlook good" or lie and commit fraud. If they don't ask you, they will in all likelihood think that you have just borrowed �10,000 and will have to pay it back. they will then think that you have more monthly commitments than you actually do have.

So long as you haven't had any problems mentioned above and you have no returned payments on your bank account, you should be fine as stated.

[jason1980]

I had a mark against my credit rating for actually paying my bills before their due date and on time. It was because I only paid just over the minimum amount each month required, it actually reduced my credit score.