Credit score and mortgages

[Katiekatie37]

My credit is awful, granted it's my fault. I had a period about 3-4 years ago when I had way more going out on bills alone than I had coming in. I got stuck in a stupid trap of getting those awful payday loans and had defaults on a handful of accounts. I changed jobs and made paying all debts a priority, within 6 months of paid all my defaults, loans and stopped any late payments. I now have about £400 on a credit card and all bills are up to date. I joined the electoral role, did everything I was told to do to boost credit. I am still in the "very poor" section with a credit score of 500 on noodle. There are no recent negative factors, possible negative factors of positive factors.

I'd rather hoped it would rise a bit quicker than it has , I know it's only been 2 years but I'm desperate to get a shared ownership property but am scared with my rubbish credit I'll never get a mortgage or a huge interest one if any. Any advice/tips how I can get it higher than it is , or do I have to wait the full 6 years till the satisfied defaults have dropped off ?!

Try the moneysaving experts credit club to see what your score is there.

579 on there do a tiny but higher but not much !

Speak to London and country mortgages they know the major lenders inside and out. They will offer advice on what to do next

I think the score is out of different scales.

I've got a poor credit history (trying to sort it out though!) I've got 520 on noodle and only 373 in the credit club.

It's funny how we've got a similar score on noodle but mine is far worse on the moneysavirngexpert site, they must be looking at completely different factors.

It's gets destroyed so easily and is then so difficult to build back up. My circumstances were the complete opposite of now, I'm by no means rolling in it and don't have much disposable income (huge rent prices in south east) but I have a disposable income which is a first, I was bringing home way less than my outgoings before!

Mine was 670 on noodle , next month 500 😬. I hadn't made a late payment or anything can only think it was the various insurance quotes I was searching. I was so pleased to be in the orange poor section then straight back down !

My husband has an awful credit score and we went to L&C and managed to get a mortgage. They were brilliant and really non judgmental and would highly recommend.

There are lenders who will do poor credit mortgages. Talk to a specialist mortgage broker.

Ok thank you I'll have a look at them.

To work our why you credit history is bad, you can get a month free access to the full experian credit rating. This will go into full detail why your credit is low. You can then query any mistakes. insurance quotes should not lower your rating all the way down to 500.
www.creditexpert.co.uk/sign-up/sign-up?sc=200106&rurl=www.google.co.uk&mboxSession=48a0b9b035344551879e03beefb5e112&areaid=0&pkgid=UKURS&SITEID=100002&SiteVersionID=642#_ga=2.240363211.998128265.1500914681-236073370.1500914657

just make sure you cancel it. very easy to do.

Yeah I did this no negative factors in the last 3 years apart from 1 late phone bill. Also no positive as I can't get credit to improve it. Obviously there are settled defaults on there from between 4-6 years ago. Annoyingly one is from 5 years ago but as I only paid it 2 years ago it shows up as default 2015 as I suppose I still had it then but paid it off, so it shows settled just so many years away from dropping off.

Maybe best speaking to a mortgage advisor, could be a case of waiting to get your credit score better or going to non high street lenders, although rates will be higher but you could always remortgage when your credit score is better and defaults have dropped off to a high street lender.