News1 min ago
Credit History
8 Answers
At the age of 29 I've never had a credit card, overdraft, loan, hire purchase etc, so if I applied for a mortgage will I have any credit history at all? I only have a basic bank account and a savings account.
Answers
Best Answer
No best answer has yet been selected by pigeongirl. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Well, you do have a 'credit history' then. Albeit not a comprehensive one. The history of your current account (do you go overdrawn, do you manage it sensibly) would be referred to by your mortgage company. Not having the other things might make it more difficult to get a mortgage, but not impossible.
I've never had any of the things you describe and I got a mortgage ok with my own bank.
Seven years later and I've just remortgaged and when the financial adviser did my credit check he said I've got the highest credit rating he's ever seen in his career as I still don't have any form of credit apart from my mortgage and a contract mobile phone.
Seven years later and I've just remortgaged and when the financial adviser did my credit check he said I've got the highest credit rating he's ever seen in his career as I still don't have any form of credit apart from my mortgage and a contract mobile phone.