Bad Credit or No Credit History

Applying for a mortgage with no credit history may be challenging, but it’s still possible. High-street lenders usually rely on credit scores to assess the risk of lending. If you have no credit history available, you may be viewed as a high-risk applicant as no data shows how well you manage financial repayments. At Lightbulb Lending, we work alongside specialist lenders who know that life events can affect your credit score, and we’re here to make sure that these setbacks don’t stop you from achieving your goals.

Several factors show no credit on your credit file including:

• No credit cards or loans in the last 6 years.
• If you are living at home – as you may not have any utility bills in your name.
• If you are not on the electoral role.

These factors can lower your credit score, which may make it more difficult for your mortgage application to be accepted. We understand the criteria that lenders use when assessing applications, meaning that we are ideally positioned to help find the right lender for your circumstances.