Is 759 a good enough credit score to get a mortgage? - HotUKDeals
We use cookie files to improve site functionality and personalisation. By continuing to use HUKD, you accept our cookie and privacy policy.
Get the HUKD app free at Google Play

Search Error

An error occurred when searching, please try again!

Login / Sign UpSubmit
Expired

Is 759 a good enough credit score to get a mortgage?

celestevernon01 Avatar
4y, 10m agoPosted 4 years, 10 months ago
Just done a credit check and scored 759 which Experia said was fair, would this be high enough to apply for a mortgage?
Tags:
celestevernon01 Avatar
4y, 10m agoPosted 4 years, 10 months ago
Options

All Comments

(27) Jump to unreadPost a comment
Comments/page:
#1
mines much lower and can get one
#2
I got 999 and still cant get a loan, lol so good luck. Think like me they'll prob offer you one but maybe bump up the % rate... Never get whats advertised, but maybe me being cynical.
#3
i got told the interest rate on a mortgage cannot differ person to person, its the same for everyone
banned#4
I have very bad credit rating but I got a £30000 loan for a business 3 months ago
1 Like #5
Your credit score means nothing.
I hope you got it on a fre trial.
#6
Yeah was a free trial, thanks for the info!
banned#7
djmalone1985
i got told the interest rate on a mortgage cannot differ person to person, its the same for everyone


you got told wrong
#8
there are different rates available ie products, but everyone has access to them equally. unless its first time buyer rates etc... two individuals can go for the same product and the interest rates be the same, even if one person has a poor credit history and one is better.
banned#9
Guys I have an experian account. WHERE does it tell you your score?

Mine just tells me who did a credit check on me in the past and those that I have accounts with.

Very interested to know my score.
#10
Yeah mine tells me all that and at the top of the page as soon as I sign it it says my score
banned#11
Let me check what mine does lol. Brb.
1 Like #12
As mentioned already, your Credit Score doesn't count for much but it is more about how you have managed your existing debts.

When applying for a Mortgage a lot of things will be taken into consideration, eg, Loan to Value (LTV)- in other words the amount you need to borrow in relation to the value of the property. Your current level of income measured against your existing financial commitments (Affordability). The way you have conducted your existing debt repayments will also be taken into account.

Some lenders are stricter than others when it comes to Mortgage borrowing so it is best to speak to an Independent Mortgage Broker (whole of market) who should know the best lenders to approach - make sure you establish how they are paid,ie, will they charge you a Broker Fee or will they rely wholly on the Commission they receive from the Lender they place you with? At the moment it is quite difficult for Mortgage Brokers to earn a living through arranging the Mortgage on its own so they will try and push you to take Life Cover, Buildings and Contents, Critical Illness, Accident, Sickness and Unemployment Cover etc - no matter what they say, you do NOT need to use them to arrange these things and are free to shop around.

Good luck with everything.
banned#13
To protect the security of your personal information, your account has been locked. If a user enters incorrect information several times, our system interprets this as potentially fraudulent activity and locks the account until we can alert you with this message.


Its the first time I entered my details oO
1 Like #14
stuart9787
Some lenders are stricter than others when it comes to Mortgage borrowing so it is best to speak to an Independent Mortgage Broker (whole of market) who should know the best lenders to approach - make sure you establish how they are paid,ie, will they charge you a Broker Fee or will they rely wholly on the Commission they receive from the Lender they place you with? At the moment it is quite difficult for Mortgage Brokers to earn a living through arranging the Mortgage on its own so they will try and push you to take Life Cover, Buildings and Contents, Critical Illness, Accident, Sickness and Unemployment Cover etc - no matter what they say, you do NOT need to use them to arrange these things and are free to shop around


Cant say too much as I work for Clydesdale Bank but I would recommend shopping around also but not going to a mortgage broker as most are only in it for themselves and do not look at the WHOLE market as they never mention us as we do not pay commission. Even our own Mortgage advisers, if customer is getting a better deal elsewhere, we will advise them to go there, not because we don't want business but its what is best for the customer. If they didn't advice where was best they wouldn't be compliant and doing their job properly which could land them in all sort of sh*t.

Also agree getting all above covers and agree shopping around for them.

But I will just slip in CB has been the best mortgage lender in Scotland 8 years running :p lol



Edited By: crazyblondechick on Jan 22, 2012 21:22
#15
crazyblondechick
stuart9787
Some lenders are stricter than others when it comes to Mortgage borrowing so it is best to speak to an Independent Mortgage Broker (whole of market) who should know the best lenders to approach - make sure you establish how they are paid,ie, will they charge you a Broker Fee or will they rely wholly on the Commission they receive from the Lender they place you with? At the moment it is quite difficult for Mortgage Brokers to earn a living through arranging the Mortgage on its own so they will try and push you to take Life Cover, Buildings and Contents, Critical Illness, Accident, Sickness and Unemployment Cover etc - no matter what they say, you do NOT need to use them to arrange these things and are free to shop around


Cant say too much as I work for Clydesdale Bank but I would recommend shopping around also but not going to a mortgage broker as most are only in it for themselves and do not look at the WHOLE market as they never mention us as we do not pay commission. Even our own Mortgage advisers, if customer is getting a better deal elsewhere, we will advise them to go there, not because we don't want business but its what is best for the customer. If they didn't advice where was best they wouldn't be compliant and doing their job properly which could land them in all sort of sh*t.

Also agree getting all above covers and agree shopping around for them.

But I will just slip in CB has been the best mortgage lender in Scotland 8 years running :p lol




It's IMPOSSIBLE for anyone to look at the whole of the market, but just out of interest, how many lenders does the bank you work for look at for interested parties?
#16
thesaint
crazyblondechick
stuart9787
Some lenders are stricter than others when it comes to Mortgage borrowing so it is best to speak to an Independent Mortgage Broker (whole of market) who should know the best lenders to approach - make sure you establish how they are paid,ie, will they charge you a Broker Fee or will they rely wholly on the Commission they receive from the Lender they place you with? At the moment it is quite difficult for Mortgage Brokers to earn a living through arranging the Mortgage on its own so they will try and push you to take Life Cover, Buildings and Contents, Critical Illness, Accident, Sickness and Unemployment Cover etc - no matter what they say, you do NOT need to use them to arrange these things and are free to shop around


Cant say too much as I work for Clydesdale Bank but I would recommend shopping around also but not going to a mortgage broker as most are only in it for themselves and do not look at the WHOLE market as they never mention us as we do not pay commission. Even our own Mortgage advisers, if customer is getting a better deal elsewhere, we will advise them to go there, not because we don't want business but its what is best for the customer. If they didn't advice where was best they wouldn't be compliant and doing their job properly which could land them in all sort of sh*t.

Also agree getting all above covers and agree shopping around for them.

But I will just slip in CB has been the best mortgage lender in Scotland 8 years running :p lol




It's IMPOSSIBLE for anyone to look at the whole of the market, but just out of interest, how many lenders does the bank you work for look at for interested parties?


If customer comes to us after having had a few different appointments elsewhere then we can compare prices, affordability etc. If it is a switcher from elsewhere to us like above we will compare policies and see where is best. At the end of the day when shopping around its the customers decision where they wanna go. We leave the ball in their court and follow up a week or so later to find out what their thoughts are. It is completely up to yourselves. I would always say check high street banks etc first as if there is any problems later on with your mortgage you only have to go down the town to resolve rather than costly phone calls.

Obvs I cant say much though (like I already stated) as I dont wanna be banned for 'self promoting' etc. I am only giving advice :3
#17
crazyblondechick
stuart9787
Some lenders are stricter than others when it comes to Mortgage borrowing so it is best to speak to an Independent Mortgage Broker (whole of market) who should know the best lenders to approach - make sure you establish how they are paid,ie, will they charge you a Broker Fee or will they rely wholly on the Commission they receive from the Lender they place you with? At the moment it is quite difficult for Mortgage Brokers to earn a living through arranging the Mortgage on its own so they will try and push you to take Life Cover, Buildings and Contents, Critical Illness, Accident, Sickness and Unemployment Cover etc - no matter what they say, you do NOT need to use them to arrange these things and are free to shop around


Cant say too much as I work for Clydesdale Bank but I would recommend shopping around also but not going to a mortgage broker as most are only in it for themselves and do not look at the WHOLE market as they never mention us as we do not pay commission. Even our own Mortgage advisers, if customer is getting a better deal elsewhere, we will advise them to go there, not because we don't want business but its what is best for the customer. If they didn't advice where was best they wouldn't be compliant and doing their job properly which could land them in all sort of sh*t.

Also agree getting all above covers and agree shopping around for them.

But I will just slip in CB has been the best mortgage lender in Scotland 8 years running :p lol




While I would agree that 'some' Brokers are "only in it for themselves" they are getting fewer and tend not to last long in the industry. I will say that I have 'placed' a few of my clients with CB over the last 7 years because the product was genuinely the 'best fit' for them. The Procuration Fees received from Lenders is not that great (especially if you are splitting with a Network etc) for me not to consider CB.
#18
stuart9787
crazyblondechick
stuart9787
Some lenders are stricter than others when it comes to Mortgage borrowing so it is best to speak to an Independent Mortgage Broker (whole of market) who should know the best lenders to approach - make sure you establish how they are paid,ie, will they charge you a Broker Fee or will they rely wholly on the Commission they receive from the Lender they place you with? At the moment it is quite difficult for Mortgage Brokers to earn a living through arranging the Mortgage on its own so they will try and push you to take Life Cover, Buildings and Contents, Critical Illness, Accident, Sickness and Unemployment Cover etc - no matter what they say, you do NOT need to use them to arrange these things and are free to shop around


Cant say too much as I work for Clydesdale Bank but I would recommend shopping around also but not going to a mortgage broker as most are only in it for themselves and do not look at the WHOLE market as they never mention us as we do not pay commission. Even our own Mortgage advisers, if customer is getting a better deal elsewhere, we will advise them to go there, not because we don't want business but its what is best for the customer. If they didn't advice where was best they wouldn't be compliant and doing their job properly which could land them in all sort of sh*t.

Also agree getting all above covers and agree shopping around for them.

But I will just slip in CB has been the best mortgage lender in Scotland 8 years running :p lol




While I would agree that 'some' Brokers are "only in it for themselves" they are getting fewer and tend not to last long in the industry. I will say that I have 'placed' a few of my clients with CB over the last 7 years because the product was genuinely the 'best fit' for them. The Procuration Fees received from Lenders is not that great (especially if you are splitting with a Network etc) for me not to consider CB.


I am intrigued..... So how do you guys actually make money from the lenders?? Is it just from commission? I get a little confused when I ask customers if they would like a review and they say they have a broker. Does the customer also pay you to find the deal? Explain it to me please :| as I get a tad baffled by it all from your side of the business
#19
crazyblondechick
stuart9787
crazyblondechick
stuart9787
Some lenders are stricter than others when it comes to Mortgage borrowing so it is best to speak to an Independent Mortgage Broker (whole of market) who should know the best lenders to approach - make sure you establish how they are paid,ie, will they charge you a Broker Fee or will they rely wholly on the Commission they receive from the Lender they place you with? At the moment it is quite difficult for Mortgage Brokers to earn a living through arranging the Mortgage on its own so they will try and push you to take Life Cover, Buildings and Contents, Critical Illness, Accident, Sickness and Unemployment Cover etc - no matter what they say, you do NOT need to use them to arrange these things and are free to shop around


Cant say too much as I work for Clydesdale Bank but I would recommend shopping around also but not going to a mortgage broker as most are only in it for themselves and do not look at the WHOLE market as they never mention us as we do not pay commission. Even our own Mortgage advisers, if customer is getting a better deal elsewhere, we will advise them to go there, not because we don't want business but its what is best for the customer. If they didn't advice where was best they wouldn't be compliant and doing their job properly which could land them in all sort of sh*t.

Also agree getting all above covers and agree shopping around for them.

But I will just slip in CB has been the best mortgage lender in Scotland 8 years running :p lol




While I would agree that 'some' Brokers are "only in it for themselves" they are getting fewer and tend not to last long in the industry. I will say that I have 'placed' a few of my clients with CB over the last 7 years because the product was genuinely the 'best fit' for them. The Procuration Fees received from Lenders is not that great (especially if you are splitting with a Network etc) for me not to consider CB.


I am intrigued..... So how do you guys actually make money from the lenders?? Is it just from commission? I get a little confused when I ask customers if they would like a review and they say they have a broker. Does the customer also pay you to find the deal? Explain it to me please :| as I get a tad baffled by it all from your side of the business


To be honest it is a real struggle and has been for the last 4 years - previous to that, because I was submitting a lot of business you could survive but nowadays it is very tough.

A lot of Brokers will rely on the commission they receive from selling Life Cover, Critical Illness, ASU etc as the commission is usually much higher. However, some will also charge a Broker Fee for their services which can be added to the amount borrowed - not really ideal as the client is then paying interest on this 'Fee' for the duration of the mortgage. As long as you are completely honest with the client and don't charge too much, most don't mind paying a fee of about £195 if they are confident you are working in their best interests and not the lenders. That figure might sound quite high to some but a typical Mortgage/Remortgage could easily involve 20-30 hours work before it completes. If you are not selling any associated Insurances then the hourly rate works out very low.

I used to come from a 'Tied' background (CIS) so have seen both sides of it - while the stress, pressure and working hours are greater being Independent it used to be that the rewards were greater but not the case now and would much prefer a 'safer' tied job such as yours.
#20
crazyblondechick
stuart9787
crazyblondechick
stuart9787
Some lenders are stricter than others when it comes to Mortgage borrowing so it is best to speak to an Independent Mortgage Broker (whole of market) who should know the best lenders to approach - make sure you establish how they are paid,ie, will they charge you a Broker Fee or will they rely wholly on the Commission they receive from the Lender they place you with? At the moment it is quite difficult for Mortgage Brokers to earn a living through arranging the Mortgage on its own so they will try and push you to take Life Cover, Buildings and Contents, Critical Illness, Accident, Sickness and Unemployment Cover etc - no matter what they say, you do NOT need to use them to arrange these things and are free to shop around


Cant say too much as I work for Clydesdale Bank but I would recommend shopping around also but not going to a mortgage broker as most are only in it for themselves and do not look at the WHOLE market as they never mention us as we do not pay commission. Even our own Mortgage advisers, if customer is getting a better deal elsewhere, we will advise them to go there, not because we don't want business but its what is best for the customer. If they didn't advice where was best they wouldn't be compliant and doing their job properly which could land them in all sort of sh*t.

Also agree getting all above covers and agree shopping around for them.

But I will just slip in CB has been the best mortgage lender in Scotland 8 years running :p lol




While I would agree that 'some' Brokers are "only in it for themselves" they are getting fewer and tend not to last long in the industry. I will say that I have 'placed' a few of my clients with CB over the last 7 years because the product was genuinely the 'best fit' for them. The Procuration Fees received from Lenders is not that great (especially if you are splitting with a Network etc) for me not to consider CB.


I am intrigued..... So how do you guys actually make money from the lenders?? Is it just from commission? I get a little confused when I ask customers if they would like a review and they say they have a broker. Does the customer also pay you to find the deal? Explain it to me please :| as I get a tad baffled by it all from your side of the business




A broker does look at the whole of the market and where the broker fairs better is that they can compare one against the other. My wife worked in a Bank that sold only its own mortgages and was told they had the best mortgage deals (which they didn't), but as they wern't shopping around, this gave them a false confidence which they passed to the client. Anyway, cheapest rate is only part of the package with a broker. A broker knows who is giving the best rates, who is most likely to give a mortgage suitable for your circumstances, e.g. deposit, credit rating, employment history, fees etc PLUS they can think out of the box i.e. not everyone is a 'fit' for a banks lending critera but they will likely know which lender you are a 'fit' for. They are employed by you and have vested interest in you getting your mortgage whereas the lender's adviser works for the lender and has to 'perform' and meet 'sales targets.. Many bank mortgage advisers are not professionally i.e. CeMap qualified, and do not have long term experience however ALL mortgage brokers HAVE TO BE qualified and would have a more 'in depth knowledge' of the mortgage market. Many times I have had borrowers who have been unable to get mortgages through the bank or directly with the lender and I have arranged the same mortgage with the same lender because of my experience and knowledge of mortgage underwriting - I have had to tell the underwriters where to look in their underwriting manuals to find the information to lend on a particular deal because they didn't have the knowledge of that type of lending as they were just a few years in the job and had never come across that point before. An experienced broker is worth their weight in gold for what is the biggest purchase in your life! :) PS A lot don't charge a fee and only get paid when they actually perform i.e. arrange your mortgage!


Edited By: michaelmakro on Jan 22, 2012 23:12
#21
The score is just for your reference. Different companies will have different way of calculating whether to give you the mortgage.
#22
crazyblondechick
stuart9787
Some lenders are stricter than others when it comes to Mortgage borrowing so it is best to speak to an Independent Mortgage Broker (whole of market) who should know the best lenders to approach - make sure you establish how they are paid,ie, will they charge you a Broker Fee or will they rely wholly on the Commission they receive from the Lender they place you with? At the moment it is quite difficult for Mortgage Brokers to earn a living through arranging the Mortgage on its own so they will try and push you to take Life Cover, Buildings and Contents, Critical Illness, Accident, Sickness and Unemployment Cover etc - no matter what they say, you do NOT need to use them to arrange these things and are free to shop around


Cant say too much as I work for Clydesdale Bank but I would recommend shopping around also but not going to a mortgage broker as most are only in it for themselves and do not look at the WHOLE market as they never mention us as we do not pay commission. Even our own Mortgage advisers, if customer is getting a better deal elsewhere, we will advise them to go there, not because we don't want business but its what is best for the customer. If they didn't advice where was best they wouldn't be compliant and doing their job properly which could land them in all sort of sh*t.

Also agree getting all above covers and agree shopping around for them.

But I will just slip in CB has been the best mortgage lender in Scotland 8 years running :p lol




Best how? Your guys seem to want a 5.69% interest rate, against 4.1% for HBOS, 4% for RBOS, and 3.9% for First Direct. Is there a way to get a better interest rate than that, or does CB offer something extra for the money?
#23
dxx
crazyblondechick
stuart9787
Some lenders are stricter than others when it comes to Mortgage borrowing so it is best to speak to an Independent Mortgage Broker (whole of market) who should know the best lenders to approach - make sure you establish how they are paid,ie, will they charge you a Broker Fee or will they rely wholly on the Commission they receive from the Lender they place you with? At the moment it is quite difficult for Mortgage Brokers to earn a living through arranging the Mortgage on its own so they will try and push you to take Life Cover, Buildings and Contents, Critical Illness, Accident, Sickness and Unemployment Cover etc - no matter what they say, you do NOT need to use them to arrange these things and are free to shop around


Cant say too much as I work for Clydesdale Bank but I would recommend shopping around also but not going to a mortgage broker as most are only in it for themselves and do not look at the WHOLE market as they never mention us as we do not pay commission. Even our own Mortgage advisers, if customer is getting a better deal elsewhere, we will advise them to go there, not because we don't want business but its what is best for the customer. If they didn't advice where was best they wouldn't be compliant and doing their job properly which could land them in all sort of sh*t.

Also agree getting all above covers and agree shopping around for them.

But I will just slip in CB has been the best mortgage lender in Scotland 8 years running :p lol




Best how? Your guys seem to want a 5.69% interest rate, against 4.1% for HBOS, 4% for RBOS, and 3.9% for First Direct. Is there a way to get a better interest rate than that, or does CB offer something extra for the money?


Check out this page and go to the bottom and follow the link to Your Mortgage Awards magazine. CB best mortgage lender 8 years running pages 34 & 35 and YB best regional mortgage lender 13 years running pages 12 & 13.

Actually worth having a good read trough the magazine OP see what suits your circumstances and taylors your needs :)

Edited By: crazyblondechick on Jan 23, 2012 23:29
1 Like #24
Oh dear god

Please don't set her off about mortgages lol
#25
saxo_appeal
Oh dear god

Please don't set her off about mortgages lol


I wasnt bleeting in your ear hun so weisht and get back to work :p<3
#26
Is it true that the LTV is more accurate now, ie the valuation can be higher or lower than the purchase price and not just put as the purchase price ?
#27
went bankrupt july 2013 discharged july 14 now have Experian score of 735,could I get a mortgage as a first time buyer and how long before I could????thanks in advance

Post a Comment

You don't need an account to leave a comment. Just enter your email address. We'll keep it private.

...OR log in with your social account

...OR comment using your social account

Thanks for your comment! Keep it up!
We just need to have a quick look and it will be live soon.
The community is happy to hear your opinion! Keep contributing!