I'm about to buy my first house and I'm concerned about whether I'm credit worthy or not. What concerns me is the fact that I'm not on the electoral register and have lived in my current rented property for less than 3 years. However, I have had a loan from my bank before (which I paid back early) and I have a visa card too, which I regularly pay above minimum repayments to. When I first applied for the visa card it was declined but my bank manager signed some detals about my bank account and sent it with the application and this time I got it. Should I be concerened, and is there anyway I can check whether Abbey National (my mortgage leneder) will okay me?

Stefan

-- Stefan Pearson (spearson@bailliegifford.co.uk), May 02, 2000

Answers

Go to the Blacklisted part of this site for the address and write to Experian and Equifax to get a copy of your credit file. It will cost you #2 for each one. If the file shows you are not on the electoral roll, contact your Council and register as this is key to obtaining credit and proves you live where you claim to.

If your credit file is clear of unpaid debts - you should be OK but mortgages are credit scored so your time in job, time at address, time at bank are all important criteria. You are better applying to a lender here you already have a relationship - a current account or a savings account or a loan for example. They already know you are a good payer.

If your credit file shows debts, use the procedures in the leaflet they send with it to query why.

Hope this helps.

-- James Simons (james_2999@hotmail.com), May 03, 2000.