Just moved to UK - How to build Credit Score?

(Raushan) #1

So my friend has recently moved to London (from India) along with his wife and they both have very well paying jobs in the city with reputed organisations (consultancy & bank). They plan to buy a flat in 2-3 years but I understand even if they have saved a deposit, they may not have a good credit score.

What’s the best way for them to build it over next 2 years? I suggested them to get on the electoral register & get a credit card but they don’t have UK address history (last 3 years) so can’t get a credit card. Are there any credit card providers who would issue a credit card to someone with almost UK address history?

(Sarcasm is the finest form of wit.) #2

May help? I did some googling for ya…

1 Like
((╯°□°)╯︵ ┻━┻) #3

I don’t think credit scores have much of an impact on purchasing a house because they have the building as collateral.

Read Monzos latest blog post for saving in general and for a property :slight_smile:

(Marcus Nailor, Hot Coral Detective) #4

There’s plenty of tools out there to help build your (slightly arbitrary) credit score :grin:

I use loqbox and it’s going in the right direction at least :yum:

Monzo have actually written a post about credit scores :blush: hopefully you’ll find it useful.