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Getting a mortgage with no credit history

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  • 03-05-2015 9:51am
    #1
    Emsloe
    Registered Users Posts: 210 ✭✭


    I'm hoping to buy over the next 12-24 months and have a healthy deposit and good regular savings record. As I've lived in the UK for quite a few years I also have no credit history here in Ireland whatsoever - no loans, credit cards etc. I gather this can be as bad as having a poor credit history from a lender's perspective. I have a good credit record in the UK and maintain my bank account and credit card there with no problems.

    How does one go about building a credit record in Ireland? I'm fortunate that I don't actually need a loan for anything at the moment, but is taking out a loan or two and paying them off on time the only way to do it?


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    #2
    tomfoolery60
    Registered Users Posts: 293 ✭✭tomfoolery60


    I don't think that credit history will matter if you can show that you can consistently save. But if you are really concerned take out a credit card and use it for day to day expenditure and pay off in full at the end of the month - that should be enough.


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    #3
    tishia05
    Registered Users Posts: 49 ✭tishia05


    Emsloe wrote: »
    I'm hoping to buy over the next 12-24 months and have a healthy deposit and good regular savings record. As I've lived in the UK for quite a few years I also have no credit history here in Ireland whatsoever - no loans, credit cards etc. I gather this can be as bad as having a poor credit history from a lender's perspective. I have a good credit record in the UK and maintain my bank account and credit card there with no problems.

    How does one go about building a credit record in Ireland? I'm fortunate that I don't actually need a loan for anything at the moment, but is taking out a loan or two and paying them off on time the only way to do it?

    That is fine. They might just ask you for credit report from UK. We were asked to provide one from country we are originally from.
    If you deposit large amount of money within half a year( bank will usually ask for 6 months statements from all your accounts) you can provide bank statements from UK as well. This won't be a problem at all.
    Hope that helps


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