Mortgage

[Questioningone]

Hi I'm new to mortgages so please do not blame me that I am asking. I'm planing to leave my husband in the future saw solicitor etc. I will be buying something he will probably give me some money but I will need mortgage as well . I have never have a mortgage. I work full time and don't have any debit cards registered to vote. I also don't pay bills I just have a few direct debits like gym, phone, pet insurance, netflix. No debts just small savings. How to improve my credit score for the future?

Have you actually checked what your credit score is? How bad is it?

My DS got a credit card. He used it for all.his shopping and fuel etc but set it up to automatically repay fully every month, so there was no chance that he would miss a payment or owe any money.

And he built savings in a good interest savings account (but I don't know if that helped his credit score) but by having a bigger deposit is very useful!

I have checked on clear score and is 583 out of 1000

Check your scores

Make sure you got a bank account sole name.

Open a credit card for spending daily things on like food. Have it set to pay off automatically from your account. Don't use more than half it's limit. Make sure you're pre-approved before applying.

Don't do ANYTHING that will result in a hard credit search for about 6 months before applying for mortgage.

Open a savings account for your deposit. If likely to be more than a year away go for something like a LISA to get top ups on deposit funds.

Basically have some credit and pay it off on time and in full. Get a reputation for reliability.

Thank you. I have already saving ISA account and my own bank account. Just need to sort out credit card.

You also can improve your score by being registered to vote. Is there any reason you're not registered?

Another tip, sign up with the the credit reference agencies and check your credit file to make sure it's accurate.
If you're linked to anyone with poor credit that can impact on your score.
You can usually do this for free but it might be worth you paying for their service while your build your score.

https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

Get a phone contract in your own name, are you planning to rent first? Having utility bills in your name and paid up to date helps. Don’t draw any cash out on your credit card or use it for any gambling, and don’t take out finance on a car or anything else.

if you download clearscore app it’s free and will keep you updated on changes/what to do to improve your score. Apparently UK average score is 585 so yours isn’t bad

I though the OP said 'registered to vote'.

Forget about this, it's meaningless.

Google the Moneysavingexpert eligibility calculator. You can enter your details and it will tell you which credit cards you're most likely get approved for.

Use the card for a small amount of normal spending and set up a direct debit to pay off in full every month. This shows you're able to manage debt responsibly, which will you get a mortgage when you need to.

Phone helps you with credit score. A credit card that you pay off each month too.

I am registered to vote

At the moment I have Giffgaff £10 per month will sign for contract with somebody else.

I am not spending person rather saving. Never been in debt hence didn't need credit cards.

Apologies, I misread your original post.

Plenty of reasons that a credit card is useful that have nothing to do with debt or spending money you don't have. This is one.

In fact, it could be argued that 'debt' isn't a reason to use a credit card and plenty of people (around 2/3 I believe) never actually get into debt with their credit cards apart from the cashflow management benefit that allows you to delay your spending by a few weeks between time of purchase and when you pay the bill.

Also wanted to add I have been in the same situation as you, it’s tricky at first but you will get there. It didn’t take many months for credit score to start rising - I rented for a couple of years before getting a mortgage, but that was due to personal circumstances/covid lockdowns etc