Credit Score

[Angelnurse]

Does your credit score affect your ability to get a mortgage?

[boxtops]

Yes, definitely. Any lender looks at your credit rating when deciding whether or not to advance money to you.

[woofgang]

errm yes of course it does. Your credit score represents, broadly, how much of a good idea it would be to lend you money. Agreed that a mortgage is a loan against the value of the house but lenders don't want the hassle of repossession and resale so they will prefer to lend to people who can probably pay them back

[ubasses]

All financial institutions will credit score you and they all use variations of the system, so a credit score with one Mortgage Company could reject you and another accept you. The biggest thing is your credit record when they search their chosen Company (ie experian). If you have any adverse information registered such as County Court judgements, late or missed credit payments, then you are most likely to be rejected by them all.

[Kathyan]

We were refused a mortgage because I had a CCJ (which I didn't know about) for £34.00! We settled it and got the mortgage. This was around 13 years ago.

[Angelnurse]

Thanks guys, yes I had a CCJ for £58 which I knew nothing about and this has clearly affected my credit score which is infuriating so I wondered if I would struggle to get a mortgage! I have previously had a mortgage. Will this help me maybe?

[vetuste_ennemi]

If you had the mortgage fairly recently and had no late payments that would be in your favour, Angelnurse.
But you can check your credit history for nothing by signing up to Experian for a trial period. They will take you card details, but won't charge immediately. You can then cancel by phone before the trial period ends. This will show all lines of credit you have now or have had in the past and your payment history.