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Can't get a mortgage because

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By (user no longer on site) OP   
over a year ago

I haven't had a loan before.

Anyone else had this problem and is there a way around it?

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By (user no longer on site)
over a year ago

Yeah

Take out a small loan

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By (user no longer on site)
over a year ago

Take out a loan. Have you got a credit card? If not that might help show you can handle credit if that's the problem

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By (user no longer on site) OP   
over a year ago


"Yeah

Take out a small loan"

Yeah i thought of that, but I guess it would take some time and I wanted to buy a house now

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By (user no longer on site) OP   
over a year ago


"Take out a loan. Have you got a credit card? If not that might help show you can handle credit if that's the problem "

I never use cards. But I have got one around here somewhere.

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By (user no longer on site)
over a year ago


"Yeah

Take out a small loan

Yeah i thought of that, but I guess it would take some time and I wanted to buy a house now "

Takes like 20 mins online

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By *partharmonyCouple
over a year ago

Ruislip

Go to your bank and ask for a credit card. Buy something with it and pay it off immediately. Instant credit rating.

Money Saving Expert has some very useful advice on building up your credit rating. Getting on the electoral roll is very useful for that apparently.

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By (user no longer on site) OP   
over a year ago


"Yeah

Take out a small loan

Yeah i thought of that, but I guess it would take some time and I wanted to buy a house now

Takes like 20 mins online "

I can't do it online.

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By (user no longer on site)
over a year ago

Try using it. If you dont use more than 40% or so each month and 5then pay it off completely each month, and do this for a few months. You'll have something on your credit file showing you are able to afford payments

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By (user no longer on site) OP   
over a year ago


"Go to your bank and ask for a credit card. Buy something with it and pay it off immediately. Instant credit rating.

Money Saving Expert has some very useful advice on building up your credit rating. Getting on the electoral roll is very useful for that apparently. "

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By *ourayloversCouple
over a year ago

chesterfield

I've not had a mortgage or credit card/loan for a few years and credit rating is shot !!!

Was advised to take out a credit card just to use it for my expenses so I could rebuild a credit rating

Ray

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By (user no longer on site)
over a year ago

Would you like to borrow one of my loans for the time being?

Please

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By (user no longer on site)
over a year ago

Get a credit card. Use it and pay it off straight away. Credit cards help so much with building a credit rating. As someone who approves mortgages as part of my job, I can’t stress how important it is to use a CC sensibly to build a strong rating!

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By (user no longer on site) OP   
over a year ago


"Try using it. If you dont use more than 40% or so each month and 5then pay it off completely each month, and do this for a few months. You'll have something on your credit file showing you are able to afford payments "

That's the thing the time it's going to take. I thought I could do it quicker.

If I had known I would of done this a long time ago.

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By (user no longer on site) OP   
over a year ago


"Would you like to borrow one of my loans for the time being?

Please "

Nah lol

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By (user no longer on site) OP   
over a year ago


"Get a credit card. Use it and pay it off straight away. Credit cards help so much with building a credit rating. As someone who approves mortgages as part of my job, I can’t stress how important it is to use a CC sensibly to build a strong rating! "

I thought of was a good thing that I haven't had any loans before.. But not the case.

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By (user no longer on site)
over a year ago


"Try using it. If you dont use more than 40% or so each month and 5then pay it off completely each month, and do this for a few months. You'll have something on your credit file showing you are able to afford payments

That's the thing the time it's going to take. I thought I could do it quicker.

If I had known I would of done this a long time ago. "

You might only need 6 months worth of statements which would be better than taking out a loan for a year say. I'm guessing you have seen a place you want already?

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By *essie.Woman
over a year ago

Serendipity

Try a mortgage broker and ask their advice.

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By (user no longer on site) OP   
over a year ago


"Try using it. If you dont use more than 40% or so each month and 5then pay it off completely each month, and do this for a few months. You'll have something on your credit file showing you are able to afford payments

That's the thing the time it's going to take. I thought I could do it quicker.

If I had known I would of done this a long time ago.

You might only need 6 months worth of statements which would be better than taking out a loan for a year say. I'm guessing you have seen a place you want already? "

Yes i wanted to buy it before it's gone

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By (user no longer on site) OP   
over a year ago


"Try a mortgage broker and ask their advice. "

I have and at first I was refused because the money wasn't in the bank for long enough and then because I had no proof on where the money came from and now because I've never had a loan.

Its a lot of messing around. I didn't expect it would be like this.

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By (user no longer on site)
over a year ago

I remember paying my mums credit card bill for her in the bank as I was going shopping. I looked at her limit and it was 22k, her balance was only 300 odd quid. She uses it to hammer QVC. I couldn’t be trusted having 22 thousand pound on a credit card available to spend. Wasn’t even a premium card either just a standard card.

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By (user no longer on site)
over a year ago


"Try a mortgage broker and ask their advice.

I have and at first I was refused because the money wasn't in the bank for long enough and then because I had no proof on where the money came from and now because I've never had a loan.

Its a lot of messing around. I didn't expect it would be like this. "

See my cousin by the spar.

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By (user no longer on site) OP   
over a year ago


"I remember paying my mums credit card bill for her in the bank as I was going shopping. I looked at her limit and it was 22k, her balance was only 300 odd quid. She uses it to hammer QVC. I couldn’t be trusted having 22 thousand pound on a credit card available to spend. Wasn’t even a premium card either just a standard card. "

bet you were well tempted lol

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By (user no longer on site) OP   
over a year ago


"Try a mortgage broker and ask their advice.

I have and at first I was refused because the money wasn't in the bank for long enough and then because I had no proof on where the money came from and now because I've never had a loan.

Its a lot of messing around. I didn't expect it would be like this.

See my cousin by the spar. "

Right

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