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Found 6 results

  1. Hi all, I am scaling up my property investment portfolio. I have applied for 5 mortgage applications alone this year. This is taking a toll on my credit score, essentially halving my score to how it was at the start of 2020. The plan is to continue scaling up, potentially 2 mortgage applications planned for next year 2021. My question is; How do other investors deal with this situation with regards to hard searches affecting your credit score? Am I being too ambitious? Regards, Craig.
  2. Hello, Hope this finds you all well. I attended a talk yesterday on Mortgages. One topic which was touched on was Credit Ratings. The gentleman who was leading the presentation was a mortgage broker himself and informed us that credit ratings are important to gaining a mortgage. He explained that having a no credit rating whatsoever is just as bad as a bad one as the mortgage companies need to see that you can pay back any payments. It was suggested that getting a credit card to gain a good rate would be something to think about. I am 22 and I believe that I do not have a credit
  3. Recently opened up a joint bank account with another investor only to find out he has "adverse credit". I did obtain his credit report prior to doing so and his credit score was average. I did notice he had a couple of late payments back in 2013 but i didn't think anything off it. It recently come to light when my mortgage broker was trying to apply for a decision in principle in our joint names to find out he is being branded as "adverse credit". My broker advised me to close the bank account immediately and so i have done. The account was only active for about 12 days
  4. Hi Has anyone out there had and dealings with credit/reference checks for a Brit returning from abroad? Are there any or many difficulties acquiring satisfactory checks? Any advice would be greatly appreciated. Simon
  5. Hi I'm trying to purchase a property on a joint residential mortgage with my wife as our main place of residence to live, in London. However, due to an unfortunate mistake my wife's credit scoring has been ruined. We moved house in July 2014. Unfortunately, we forgot to update our address with my wife's credit card. Therefore, we didn't receive any statements and after six months of defaults (on £70 going up to £126 with the penalty charges) her account was defaulted and closed in Dec 2014. I'd like to know if there are any mortgage broker members within the forum, or anyone who's
  6. Hi Hubbers I am currently still saving up, educating myself and getting my ducks in a row in order to buy my first property, hopefully towards the end of the year. In the meantime, I would like to do whatever I can to improve my credit rating. Now there are lots of articles out there with some ideas, but these all sound like it was overheard at the office water fountain. Examples: Have as many credit cards as possible. Pay one credit card with another using Balance Transfers. Always make sure you are paying off some amount on a credit card. Never pay off the full amount on y
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