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Recently bought a place for cash and am currently having it completely refurbed. However it seems as though my credit rating has gone up in smoke even though I've never missed a payment, I've paid off a mortgage early and haven't used my credit card in years. I can only imagine when the place was rented out scallies ran up unpaid debts or maybe the vendors got behind with their mortgage payments. Anyone had a similar experience? Any suggestions for sorting it out with the credit rating agency?
Sounds like your new address. The fact you haven't used credit for some years sort of says "I have no credit history" To have credit and use it shows a history. Not using it shows no proof you are a good creditor.
Make sense?
Not sure how you do it but you can get your credit history "corrected".
FWIW I have a small amount on a credit card that I bounce to the next card with 0% offer. I've got about 6 credit cards with nothing on them. Each time I apply I get larger credit limits. Just a useful way to prove I'm credit worthy.
* Thinking about it, I could max out all the cards and drop out for a few years?!?!?!? Maybe not. Could never keep up with the ensuing minimum payments.
As you say you have no recent credit history. Unfortunate but you need to use it to prove you can use it.
The History is with the person not the house, just make sure there is nothing owing to the householder. Have a look at equifax or experian for a better explanation though.
Nothing to do with the house - it's because you have no credit history.