Hi Shircam, welcome to the forum.

If they aren't showing then there shouldn't be any direct effect. However, I suppose there may be the indirect effect that as you had a poor credit record previously you may not have had the chance to build up a positive record yet - the absence of any negative stuff is not necessarily enough to get people to lend to you!

Have you had any other credit recently?

Hi Shircam,

It's one of those situations where you will only know by applying. Like Kevin has advised even although most things will have dropped off your credit file, having a clear credit file can also be a negative as a lender won't be able to see any past history or ability to repay.

I would be honest and up front with the garage about your credit rating as they may have lenders who are prepared to lend to people with poor credit ratings.

We have heard of a company called hease2buycars based in Ayrshire who will consider people with a poor credit rating. You could give them a try.

Let us know how you get on.

Thanks for your replys. The only other positive things are showing are my bank account, mobile phones and TV/broadband package which are up to date every month. I don't have any other credit. The only thing which might go against me is a missed mortgage payment in the last few months. Obviously I would really like car finance with a decent rate. What would you recommend?
Thanks again

Hi Shircam,

I'm not sure how much of a positive influence a bank account, mobile and broadband package have on your credit file. Having missed a mortgage payment could count against you.

Like I've said you are only going to find out about the rates when it comes to applying for finance for a new car.

You could speak with the salesperson at the car garage about your situation and obtain a quote. You could also speak with lease2buycars and you could also see if you could obtain an unsecured loan to purchase a new case but this may be the hardest option out of all three suggestions.

Once you have done that you can look back and decide which option has the best rate and deal for you.

Unfortunately because of your Trust Deed and your poor credit record it may mean the interest rate is a little on the high side. If that's the case I would think seriously about a new car. I had one client who wanted a car worth in the region of £7,000 but by the time they paid off the finance they would have paid back around £16,000. The interest was more than the car!

That's great thanks

Remember that it's not just credit.

How's your address history looking and are you showing as being on the electoral register? And do all the dates tie up?

It might not get you a good rate, but it could be the difference between a rubbish rate and a decline.

As for the accounts you do have. Current account is quite good. Communications not so. All good to have though.

However, repayment history is the thing to have. Time to get a credit builder card and be careful with it?

What's the story with your mortgage? Rhetorical question. By missed, do you mean that you've now caught up? Was it just late? Did you pay before the next payment due. Or is there an arrangement showing? Depending on exactly what happened and how it's reported will be seen differently.

Remember, having a mortgage is actually a big part of the process and goes a long way.

However, we'll never know exactly what anyone is looking for. Everyone is different and you may just simply catch them at the right or wrong time of the month.

Remember to be careful on the number of searches you do. Keep it as low as possible. Don't obsess over searches, but don't go crazy. Be careful of any brokers as you may find multiple searches done.

All good advice from Bert Rudge.

The missed mortgage payment does sound like a concern. I think a lot of lenders would take that as a strong negative signal if it's recent and especially if it wasn't resolved soon afterwards.

Thanks for your replays. We missed a payment and are now in an arrangement, which was arranged straight away. Would being in an arrangement have an adverse effect on my rating? Thanks

Hi Shircam.

I think it's the missed mortgage payment that's the primary issue. Some lenders might be concerned that you were unable to maintain the contractual agreement on such a fundamentally important priority debt.

I'm not judging by the way - missing the payment may well have been unavoidable for you - I'm just thinking how some lenders might view it.

Being in an arrangement to resolve the missed payment would, I think, be a more positive scenario than having not addressed the matter at all.