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How long to repair credit history for FTB

Last post Mon, Nov 16 2009, 7:51 AM by Jalexa. 1 replies.
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  •  Mon, Nov 16 2009, 7:51 AM

    Re: How long to repair credit history for FTB

    terialc:

    Found this on the Experian website... http://www.experian.co.uk/www/pages/downloads/compliance/searchesAdvice3Jan2007.pdf

    What should happen but not necessarily what will happen. Up to you to police the process.

    Discuss the issue with mortgage advisers giving clear instructions not make any searches which leave a footprint. There is lot of initial guidance which is dependent only on the size of the loan, the type of property, the LTV, your earnings and employment prospects, none of which your credit record has any bearing on the answer.

    • Post Points: 5
  •  Sun, Nov 15 2009, 11:55 PM

    How long to repair credit history for FTB

    Hi, Ive been at uni for the last five years and accrued in that time about 10k of debt. The main problem was I often paid bills and loan payments late which I know ruined my credit rating. Whilst I didnt get any defaults or CCJ's, on a number of occassions I got refused further credit. I qualified in June and since then have cleared most of my debt and paid everything perfectly, even managing to save quite a considerble sum which I would like to use as a deposit for a house. My question is how long do I need to repair my credit history before I apply for a mortgage? I appreciate this might be a 'how long is a piece of string question' but I have had a number of different answers and dont want to apply only to get refused and thus making things worse.

    Many thanks

    • Post Points: 20