Credit History

Credit History

If you have a history of bad debts, county court judgements or bankruptcy to your name, you may not be eligible for a mainstream mortgage. To help ensure you are a good credit risk, a lender may require references from your existing lender, bank or landlord. In addition to this, many lenders will make use of the services of one of the two large credit agencies, Experian and Equifax. These offer a credit inquiry or a full credit application, which show details of any existing credit arrangements or county court judgements against you.

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Latest News

  • The FSA recently announced that should the economy see further drops in unemployment and rises in interest rates the Middle Class familis of the UK will be hit the hardest. Such vulnerability is shown due to the increased amount of borrowing over the years and can only be seen as more bad news should these two [...]
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  • The Council of Mortgage Lenders (CML) said UK mortgage lending increased by 14% in December compared with November, to £13.7bn and the market was entitled as being ’surprisingly strong’. The latest figures from the CML show that UK mortgage lending was up 3% in December compared with the same month a year earlier. A CML economist said [...]
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