No Credit HistoryNone Credit assessment
Their credit reports will probably be looked at many different ways during your lifetime - often in important instants. Our days are marked by an ever-increasing influence of creditworthiness on our daily life. Mortgage, loan, auto financing, telephone contract... almost anything that includes a certain level of credit is likely to affect your credit reports or rather the information they contain.
A key advantage of tracking your credit files is that you are able to keep an eye on how your bank statements are tracked by prospective creditors. Regardless of whether the bank statement information is accurate or not, creditors are turning to computer technology to help them understand your credit files, and if there is false information, the consumer has the opportunity to be rejected for the least preferred excuse - the computer says "no".
The new government plan provides that those who are in arrears with children's alimony will be notified to the credit bureaus. This, in turn, could result in non-payers being rejected for loans such as mortgage loans, credit card loans or even banking deposits.
Not a credit history... so turned down for a loan?????
Build a home, set up a FER, get in contact with a real estate agent who will sort out a few bit with them and in theory get a Santander mortgag. I sent all the particulars to the realtor so he could submit our job applications. Turned back down because I have no credit rating.
The other half was nice, they took it but wouldn't take me because I have no credit history. I have a good credit rating myself. However, because I have never taken out a credit card, credit card, etc., they will not take me because they cannot forecast my behavior in the near term. Having talked to the realtor, he tried a lot more big creditors and some smaller creditors, but they all come back and say the same thing.
I have now done 2 credit scans to verify myself out and have nothing from him. So I was asked to make a 15% down payment, which is not possible, I asked if a surety could be used but had not yet received an reply. Up to now, it looks like my only option is to hold back for 12 month to get my credit rating.
Sorry, I don't really have 12 month to sort it out. Hopefully someone out there has gone through this and has come out on the bright side and knows of anyone or anything we can do to get a lender to take us for a loan.