When applying for a Mortgage in the United Kingdom, Mortgage Lenders will without doubt definitely want to credit search you before lending money on the home that you want to buy. Some lenders will probably want to credit score you as well.
Mortgage Lenders need to see that you exist from a “credit” point of view as they are not in the habit of making bad business decisions by lending to people who are financially invisible! In other words you are most likely to be unknown to lenders once you arrive in the UK as your situation and credit history in your originating country does not matter at all here. Mortgage lenders are only interested in your current financial situation in the UK.
If you have not arrived in the UK yet and aim to get onto the property ladder at your earliest opportunity I will be happy to offer advice on how you can get the highest possible credit score in the shortest possible time. This is on the basis that I think you can satisfy the lending criteria in relation to income and affordability to name but a few. I am here to guide you and if necessary work with you until you are in a strong enough position to move forward. I regularly work with people before they arrive in the UK and coach them towards buying their first home as soon as they are in a strong financial position.
If you have been in the UK for a while I will ask you what you have in place already which can contribute towards your overall credit score. If I think that you are a good candidate for a mortgage we can move towards presenting your case to one of the more suitable mortgage lenders for your situation. The ultimate aim is to get you in a position whereby the lender carries out a “decision in principle” which involves a credit search as well as a credit score. If I think I need to work with you for a little longer I will offer advice on how to increase your credit score.
The best thing is for us to have an initial chat over the phone so that I can find out more about your circumstances.
Most mortgage lenders want you to be in the country for 6 months to 3 years before lending to Ancestry Visa holders, but there are lender’s who are prepared in theory to lend the day after you set foot in the country. The only caveat is that they need to be able to find you when they do a credit search. This means realistically you wont be getting a mortgage until you have a strong enough credit history in the UK and that is likely to be 3 to 6 months after you arrive. This is where I can help you but to be realistic it can take 30 to 60 days for any change to be seen on your credit file.
I do look at your current circumstances and make suggestions on how to increase your credit score if necessary.