Colin
Member
Registered: 4th Apr 02
User status: Offline
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Yeah worth doing for a few years to get a house with lower payments so long as its only for a couple years!!
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Fee
Member
Registered: 16th Nov 05
Location: With AK
User status: Offline
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This may sound silly....but sometimes having no debt/loan/credit cards can work against you on your credit rating...as you will have no record of meeting monthly payments etc
A couple of my friends just recently bought a place and the fact that they had never taken out loans and never had any credit cards actually meant that they had a poor credit rating.
It's best to speak to someone and see what they come up with...
in most cases they can help you out with what you want to get
It may be that you'll need to put down a bigger deposit though in order to get a better rate
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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yes fee your quite correct and each time you apply for a mortgage yuor credit score is affected
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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I do have a very good credit rating, i have had over 5k on cards which have always been paid of well, and a loan which was paid off this month (12month loan)
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