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Credit Score Is Low, Please Advise


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can anyone advise me on my credit score.

been living in the UK for 2.5 years, came back to UK after living abroad for 11 years and had no credit rating. brought back 30K with me, enrolled on eletoral reg in Berks. Managed to get a flexi loan from HSBC and with got a mastercard, she pays minimum each month on it.

Moved to Shropshire and again enrolled on electoral reg and have been on it for 2 years at present address. I have two car loans, one which is new and one which is half paid, i also have a HD TV on finance and that is baout it. No bad debt, no CCJ's 49K earnings combined and a lot of money invested in bullion. IFA tried to get me mortgage in principle the other week, was turned down first by HBS said credit score was to low and then he tried abbey and same again, credit score to low.

How can i rectify this?

cheers :)

Looking back in hindsight, glad i didnt get the mortgage

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I also came up against the low credit score problem when I went to take a let on a property. Despite a platinum visa with no missed payments for over ten years and no ccj's defaults or anything bad. I nearly fell off my chair when they said it.

The letting agents used Equifax. ( I even too my laptop into the office and showed them my STR fund).

What really annoyed me was one of the dozy bitches in the office asking if maybe I could get a guarantor!

I sent for a copy of my credit report (the £2 version) and there was nothing bad on there.

In the end I offered six months rent in advance and that was accepted by the landlord.

In an effort to get my score up I have applied for a credit card/American Express card that I do not need or want. That was accepted (£5000 credit limit) though I also got a voucher for 1500 airmiles which was nice.

I have also taken an HSBC flexiloan which I paid off one week later. (HSBC said they use Experian and that my score was high with them).

Not sure if any of it will work but it was an eye opener.

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can anyone advise me on my credit score.

been living in the UK for 2.5 years, came back to UK after living abroad for 11 years and had no credit rating. brought back 30K with me, enrolled on eletoral reg in Berks. Managed to get a flexi loan from HSBC and with got a mastercard, she pays minimum each month on it.

Moved to Shropshire and again enrolled on electoral reg and have been on it for 2 years at present address. I have two car loans, one which is new and one which is half paid, i also have a HD TV on finance and that is baout it. No bad debt, no CCJ's 49K earnings combined and a lot of money invested in bullion. IFA tried to get me mortgage in principle the other week, was turned down first by HBS said credit score was to low and then he tried abbey and same again, credit score to low.

How can i rectify this?

cheers :)

Looking back in hindsight, glad i didnt get the mortgage

Pay off your debts. I wouldn't lend a penny to you because you owe money to other people already, putting me at the back of the queue to get my penny back if you land on hard times.

[EDIT] FFS. What are you doing buying stuff like TVs and cars on credit.

Edited by dellboy
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can anyone advise me on my credit score.

been living in the UK for 2.5 years, came back to UK after living abroad for 11 years and had no credit rating. brought back 30K with me, enrolled on eletoral reg in Berks. Managed to get a flexi loan from HSBC and with got a mastercard, she pays minimum each month on it.

Moved to Shropshire and again enrolled on electoral reg and have been on it for 2 years at present address. I have two car loans, one which is new and one which is half paid, i also have a HD TV on finance and that is baout it. No bad debt, no CCJ's 49K earnings combined and a lot of money invested in bullion. IFA tried to get me mortgage in principle the other week, was turned down first by HBS said credit score was to low and then he tried abbey and same again, credit score to low.

How can i rectify this?

cheers :)

Looking back in hindsight, glad i didnt get the mortgage

[ Credit Scoring is a computerised system operated by the banks and building societies to evaluate a customer based on their record of debt management and credit history. your problem is lack of history not your clean credit record to date, your IFA should have access to a mortgag packager who will find you a product from their panel of lenders, if he lacks access see a mortgage broker and go for one who is registered with a network to ensure compliance and good advice

/quote]

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