I don't know if anyone can help me.
My husband and I are looking to get a mortgage, both FTB's. We have just one loan £3.5k remaining at £104 a month, and we have a credit card each that we use every month and pay off in full.
However our credit scores on check my file are in the 700-800's, mine I believe will increase once I am on the electoral role to over 800, I am on it but the credit agencies are not reporting this so I have written to them all this week with proof, but my husbands has been updated and his score actually went down to 702!
He asked the guy at check my file why his score had gone down and he said it was because we had recently closed credit card accounts, we did this because we had read it helps to close any credit accounts that we are not using to improve your score but the guy said this actually makes it worse :(
So my question is this, neither of us have anything negative on our credit report in terms of late payments in the last 3 years (my husband has a couple of late payments to Next but they were in 2005/2006) and we have minimal debt. The only negative thing I believe is that we have been at our address for less than a year as we moved in with my parents from our rented house to pay off debts and save deposit. We are looking to apply for with Nationwide with their save to buy account for a 95% deposit and we have our main bank with Nationwide so they can see how well we manage our money and save. Is it the actual 'score' that dictates whether you get the mortgage, or the clean credit history... I am so confused and pretty gutted as some of our friends who regularly late pay things and are in loads of debt seem to have a better score than us!
I am also wondering if paying off my husbands loan will help to boost his score, but from what experian said about closing the credit card accounts I am not so sure, the information I am seeing online is so conflicting.
Thanks in advance.
My husband and I are looking to get a mortgage, both FTB's. We have just one loan £3.5k remaining at £104 a month, and we have a credit card each that we use every month and pay off in full.
However our credit scores on check my file are in the 700-800's, mine I believe will increase once I am on the electoral role to over 800, I am on it but the credit agencies are not reporting this so I have written to them all this week with proof, but my husbands has been updated and his score actually went down to 702!
He asked the guy at check my file why his score had gone down and he said it was because we had recently closed credit card accounts, we did this because we had read it helps to close any credit accounts that we are not using to improve your score but the guy said this actually makes it worse :(
So my question is this, neither of us have anything negative on our credit report in terms of late payments in the last 3 years (my husband has a couple of late payments to Next but they were in 2005/2006) and we have minimal debt. The only negative thing I believe is that we have been at our address for less than a year as we moved in with my parents from our rented house to pay off debts and save deposit. We are looking to apply for with Nationwide with their save to buy account for a 95% deposit and we have our main bank with Nationwide so they can see how well we manage our money and save. Is it the actual 'score' that dictates whether you get the mortgage, or the clean credit history... I am so confused and pretty gutted as some of our friends who regularly late pay things and are in loads of debt seem to have a better score than us!
I am also wondering if paying off my husbands loan will help to boost his score, but from what experian said about closing the credit card accounts I am not so sure, the information I am seeing online is so conflicting.
Thanks in advance.