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You will still need to verify that you have sufficient ome to repay the loan and have an established payment history that shows you're likely to produce your repayments on time. The lender will look at your ome stubs tax returns and also other types of ome verification that you simply supply them. For your payment history rather than looking at your credit score they may ask to review the repayments you've made on accounts for example rent with a landlord household utility bills cellphone bills as well as other accounts where you've got made payments on a regular basis. Ideally the accounts will are already opened for no less than twelve months. Although a great deal of people will have a well documented credit history you will find situations where many people may not need established credit have poor credit or their ome and credit are tied to some business or self employment as opposed to established being an individual. Other situations lude someone who derives a substantial portion of their ome from investments is self-employed or has irregular causes of ome or those who have paid mostly with cash inside the past and also have avoided using cards and loans. Finally those with poor credit scores may wish to avoid having their credit rating be used for determining the types of mortgages they're eligible for. No credit assessment mortgages do provide the means for some visitors to qualify to get a mortgage who'd not otherwise have the ability to do so. However there really are a few disadvantages about bat roosting types of mortgages. One disadvantage could be the interest levels you will probably be eligible for. Because the lender does not look at credit score this puts them with a higher risk. The higher risk taken through the lender translates in a higher interest rate to the borrower. 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