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Mortgage with bad credit

AMBanks

I have a credit card with BOI since I was a student (it's still a student credit card).

I lived abroad for the past 17 years and had been paying it off through my mother - who it appears now sometimes paid it after the date required. Therefore I believe I must have bad credit. I have recently moved back from abroad and wish to apply for a mortgage.

This credit card is at my parents address and not attached to my current address.

Was wondering if you could answer my questions:

I thought credit history was only given to lenders for the last 2 years - but on some forums people advise 5 years. I know the agency keep 5 years on you but they clearly state that they only provide the lender with the most recent 2 years conduct on the account - I'm confused??

If I open up a current account at Ulster Bank and apply to them for a mortgage, if I don't supply them with my old home address will they still attach this card to me?

Thanks in advance,
A

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phormium

Apply for your own ICB and have a look at what is on it, credit cards are only relatively recently on ICBs. The bank might get your report up at the other address with the date of birth too but they may not make any connection between the two because obviously some people with common names can pop up by coincidence with matching dob. But if you have some very uncommon name and they are suspicious they might ask you for further info re previous addresses.

5 yrs details of lending are there but 2 yrs of actual repayment transactions are shown so lender could see you had a loan/card/balance etc going back but would only see the last 24 months activity on it.

Tara1975

CREDIT HISTORY STAYS ON CREDIT REPORT FOR 5 YEARS

WHEN BANKS ARE LOOKING AT HISTORY THEY ONLY LOOK AT LAST 2 YEARS OF CREDIT RATING OR REPAYMENT

Jim2007

https://www.boards.ie/discussion/comment/118857114#Comment_118857114

Wrong, first of all OS debt remains on the report until such time as it is settled.....

coylemj

Brand new poster Tara1975 going around resurrecting old threads on this topic.

He dug up this 9 year old thread in Legal Discussion. See post #3 ...

https://www.boards.ie/discussion/2056949345/bad-credit-history/

akelly02

As far as i know , the debt is on the CCR report for 5 years, but once the debt is cleared more than 2 years , you have a decent chance of getting credit.

i am open to correction on this however.

Jim2007

https://www.boards.ie/discussion/comment/118857389#Comment_118857389

Read my last post.

akelly02

https://www.boards.ie/discussion/comment/118860764#Comment_118860764

I did.

The debt ( once cleared ) will stay on the report for 5 years.

But after 2 years of the debt being cleared, my understanding is banks will start looking at you favourably again .

If the debt is never cleared then you are in trouble.

Jim2007

https://www.boards.ie/discussion/comment/118861404#Comment_118861404

The debt remains on the report until it is settled not 5 years. Go and read the EU directive.

GM228

https://www.boards.ie/discussion/comment/118857295#Comment_118857295

Not entirely correct (to note only the previous two years of payments are shown on the report), the details remains on the report until the final debt is settled + another 5 years.

akelly02

https://www.boards.ie/discussion/comment/118862186#Comment_118862186

i know that.

Whats your problem? i said ''once cleared''

akelly02

https://www.boards.ie/discussion/comment/118862186#Comment_118862186

and you are wrong. it stays longer than until such time its settled.

Henry Ford III

https://www.boards.ie/discussion/comment/118857373#Comment_118857373

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