Meet Alex, Loqbox member and newcomer to the UK. This is how she built her credit history with Loqbox.When Alex (also known as Mingqiu Li) moved from Japan to Manchester a year and a half ago, she didn’t expect how difficult it would be to start her financial life here.
Alex, who originally comes from China, had been living in Japan where she was studying for her master’s degree, working part-time, and raising two young children.
Between settling into a new city, starting a new job, and playing “judge” for her two young children and their typical sibling rivalry, life was busy. But Alex and her husband had a clear goal for their family: to buy a home.
Alex, who originally comes from China, had been living in Japan where she was studying for her master’s degree, working part-time, and raising two young children.
Between settling into a new city, starting a new job, and playing “judge” for her two young children and their typical sibling rivalry, life was busy. But Alex and her husband had a clear goal for their family: to buy a home.
An unexpected barrier
Before moving, they planned carefully, knowing they would need to build a UK credit history. Back in Japan, applying for credit had always been straightforward. In the UK, it was a very different experience for Alex.
In the hopes of building her history using a credit card, she applied with the bank she had been using. “They turned me down straight away,” she remembers.
“If I don’t get a credit card and pay it regularly to show I’m trustworthy, then how can I prove that I’m reliable enough to get a mortgage?”
She was repeatedly turned down because her address history was overseas. “I felt like I wasn’t really welcome in this country,” she says. “It was really disheartening.”
In the hopes of building her history using a credit card, she applied with the bank she had been using. “They turned me down straight away,” she remembers.
“If I don’t get a credit card and pay it regularly to show I’m trustworthy, then how can I prove that I’m reliable enough to get a mortgage?”
She was repeatedly turned down because her address history was overseas. “I felt like I wasn’t really welcome in this country,” she says. “It was really disheartening.”
Discovering a different way to build credit
Alex found Loqbox and realised she could build credit and save at the same time. “The website was very easy to understand,” she continues, speaking about the online reviews she read, “people think it’s a very trustworthy company and I thought, okay, let’s just go for it.”
After around six months, Alex began to see her progress. Credit card companies that had previously rejected her started getting back in touch, and her mortgage advisor could clearly see her Loqbox payments on her credit file.
“We got the mortgage sorted, which was a really, really, really great thing,” she says, beaming. “That was the moment I realised it had changed a lot of things for me.”
“I felt welcomed.”
With two young children, saving isn’t always easy because “you want to buy them all the stuff!” as Alex laughs. But using Loqbox helped her to build the habit of putting money aside first, rather than spending everything as it came in.“It really helped change how I think about money,” she explains. “Saving first made a big difference.”
After around six months, Alex began to see her progress. Credit card companies that had previously rejected her started getting back in touch, and her mortgage advisor could clearly see her Loqbox payments on her credit file.
“We got the mortgage sorted, which was a really, really, really great thing,” she says, beaming. “That was the moment I realised it had changed a lot of things for me.”
“I felt welcomed.”
With two young children, saving isn’t always easy because “you want to buy them all the stuff!” as Alex laughs. But using Loqbox helped her to build the habit of putting money aside first, rather than spending everything as it came in.“It really helped change how I think about money,” she explains. “Saving first made a big difference.”
Building a strong future in the UK
Today, Alex is in the final stages of buying her first home in Manchester. While the process has been full of paperwork and surprises, she feels proud knowing she was able to build a credit history from scratch as someone with no background in the UK.
Looking back, her advice to herself (and to anyone moving to the UK) is simply: “Join earlier.”
“I would be very grateful if the first day I landed in Manchester, somebody told me to join Loqbox right now, you’re going to get a great credit history,” she says.
Now, Alex regularly shares her experience with friends who are navigating the UK credit system for the first time, hoping to make the big move easier for others.
Improvements to your credit score are not guaranteed. Missing payments to Loqbox or other credit accounts may harm your score.
Alex is a Loqbox member. She kindly shared her story with us and received compensation for her time.
Join LoqboxLooking back, her advice to herself (and to anyone moving to the UK) is simply: “Join earlier.”
“I would be very grateful if the first day I landed in Manchester, somebody told me to join Loqbox right now, you’re going to get a great credit history,” she says.
Now, Alex regularly shares her experience with friends who are navigating the UK credit system for the first time, hoping to make the big move easier for others.
Improvements to your credit score are not guaranteed. Missing payments to Loqbox or other credit accounts may harm your score.
Alex is a Loqbox member. She kindly shared her story with us and received compensation for her time.
Improvements to your credit score are not guaranteed.
Missing payments to Loqbox or other credit accounts may harm your score.
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