Little or no credit history?
You might have been rejected in the past for a loan or mortgage application but were unsure why. It may well have been down to your credit rating, which impacts profoundly the favourability of the application.
A bank will simply reject your file if they cannot prove you are a good person to lend money to. If you have no credit history, you are a riskier case for the lender.
This will particularly apply if you are young and haven’t had much experience in the financial world yet. It can be discouraging, as young people are urged to step on the property ladder but literally can’t get a mortgage approved.
If you have little or no credit rating, this is considered a bad rating but there are options available for people with bad credit ratings. One is to go online and check out the bad credit deals available. Just by quickly logging on you can compare bad cerdit secured loans or bank accounts for bad credit by typing in a few details. Some lenders might not even check out your credit rating, others might but could also disregards what they find.
This makes it far more likely you are going to be able to course the funding you need for your new property.
Processing your request, Please wait....
