this post was submitted on 27 Dec 2025
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Huh?
In my country there's debt registries (that you can only be put into when you're late enough on a payment) and lenders will usually ask you for proof of income and list of obligations, or account statements for the last 6 months, to determine if you're capable of paying back.
The disadvantage is, they'll see your account statements. The advantage is, you don't have to have a credit card, or any sort of debt, to build credit. You don't need credit history. If your income is high enough and your expenses are noticeably lower than your income, and you don't have an outstanding debt registry entry, you're eligible for a loan.
Our mortgage delinquency rates are lower than in the US. And home ownership rates are pretty high so it seems people are getting mortgages no problem