Credit Checks
 

Hi can anyone who has got a home loan in Oz tell me
if there credit history was checked back in the UK?
Ours is very good as we had a mortgage here and credit cards etc which
were always paid on time. Just wondering whether to take statements
etc with us which might help getting a home loan

Ta
:confused:

Re: Credit Checks
 

Credit history doesn't travel with you I'm afraid. For some, it's a good thing, and a fresh start in that department can do you the world of good.

I don't really see how mortgage statements etc can help you here. They may help you rent a house or show that you have paid a mortgage before, but it won't impact on their decision.
They work their decision on what you earn here in Aus, not what you earnt and paid in the UK.

Also, as they don't check, I know that some people have said they've never owned a house anywhere before, because it has given them a better mortgage deal .... you can't do that if you're going to flash your mortgage history around.

:)

Re: Credit Checks
 

HHmmm interesting ;)

Re: Credit Checks
 

you will start with a clean slate in oz and (they) can not Chase you!.

Re: Credit Checks
 

When you say "they can not chase you" are you implying that if you went to oz without clearing all your debts i.e. phone, utilities and credit cards etc. ? "they" cannot chase you for it.

Re: Credit Checks
 

Oh yes they can!!!! Never heard of International banks, if it's worth their while they will chase you!!! Please don't mislead people over this.

Re: Credit Checks
 

:eek: Looks like Ive opened up a can of worms!!! My credit history is fine I just wanted to know if it would help us in getting a mortgage. :rolleyes:

Re: Credit Checks
 

Won't help UK credit history in Australia no. It's a new start over there, so you'll have to build up some history, get a credit card, contract mobile phone, car loan etc etc or have a massive deposit on a house and they'll give you the loan lol :D

Re: Credit Checks
 

Thanks for that not got the massive deposit though but im sure we will work something out ;)

Re: Credit Checks
 

Im getting a credit reference off my bank and a character reference off my boss so i don't have any probs renting and getting a mortgage.

Good luck

Ali

Re: Credit Checks
 

So lets get this straight... I can just get up and go giving 2 (two) fingers to all my cards and loans etc? and I'm untouchable??

Re: Credit Checks
 

In this day and age of computers and the internet you would be found.
Lots of international banks are in alliance with UK ones.
For example HSBC & WESTPAC to name one.
Also if you come back at some stage could find yourself being arrested.

Ali

Re: Credit Checks
 

Can't see this happening for small amounts (unless you owed milliions or embezzaled from a company like Bond or Skase in Oz). The worst they would be able to do is take you to a civil court and get a default judgement against you, which would go against your credit history. So if you went back and tried for a loan or creditcard, it would make it extremely difficult or impossible for you to get credit until the judgement has been paid and recinded. Similar system works in Australia through CRAA( Credit Reference Association of Australia). If you have an agreement with the institution and you keep making the regular payments, you are upholding your end of the deal if proceedings start.

Re: Credit Checks
 

Not paying unsecured debts in the UK is not a criminal offence therefore you couldn't be arrested.

Re: Credit Checks
 

Thats correct, unless they can prove you obtained the money fraudulently - fpr instance, applying for credit cards the month before you leave and max-ing them out straight away.
Main problem is that if you return to the UK to live, you will have to pay the debts off. Best way out is to negotiate with the lender, and pay off from Aus.