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Topic: Building credit and getting a mortgage  (Read 146 times)

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Building credit and getting a mortgage
« on: October 27, 2020, 07:45:45 PM »
Hello,

How did you go about building your credit in the UK? I have great credit in the US, and make a good salary, but as everyone knows you start with zero credit here. I would also like to buy a home and have enough for a 20% deposit but am concerned I won’t be approved for a mortgage without credit.

Thank you
« Last Edit: October 28, 2020, 10:21:06 AM by Bonniek »


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Re: Building credit and getting a mortgage
« Reply #1 on: October 27, 2020, 08:19:52 PM »
How long have you lived and worked in the UK?  20% would normally get you on the ladder and if you have a strong employment history and  at least a year left on your visa, it is likely enough now.

Build credit through mobile phone, utilities, council tax, etc. Same ways as in the USA.

Capital One used to have a credit builder credit card when I moved here a decade ago. Low credit limit but no annual fee. And I was able to switch my US AmEx to a UK AmEx. So those may still be options.



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Re: Building credit and getting a mortgage
« Reply #2 on: October 27, 2020, 09:02:39 PM »
Thank you for your response. I’ve been here just over a year and recently switched from ICT to Tier 2 General and have 5 years to go on the new visa.


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March 28th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).March 7th 2018 ILR. YAY! March 21st NCS&JCAP appointment.


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