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  • FIRST POST
    • itwasalladream
    • By itwasalladream 18th Oct 16, 8:05 AM
    • 1Posts
    • 0Thanks
    itwasalladream
    Mortgage now or wait?
    • #1
    • 18th Oct 16, 8:05 AM
    Mortgage now or wait? 18th Oct 16 at 8:05 AM
    Hello,

    Just looking for some advice if possible,

    My partner and I have been saving to buy a house for the last few years and have moved back home to our parents to help with this.

    The initial plan was to wait until April/may next year to apply for a mortgage, but we have now seen our ideal home!

    My partner has a perfectly clean credit file, however I have 2 defaults from 4/5 years ago both for £300, and multiple payday loans from about 4 years ago.

    The house is 235k and we will have a 10% deposit. We earn 49k between us.

    Do you think we'd have a chance of getting a mortgage now or should we hold on until the new year when my bad credit history is further in the past?

    Thanks in advance!
Page 1
    • csgohan4
    • By csgohan4 18th Oct 16, 8:16 AM
    • 2,568 Posts
    • 1,585 Thanks
    csgohan4
    • #2
    • 18th Oct 16, 8:16 AM
    • #2
    • 18th Oct 16, 8:16 AM
    A broker might be advisable for your case given your credit history.
    • Scottycameron1
    • By Scottycameron1 18th Oct 16, 8:58 AM
    • 12 Posts
    • 2 Thanks
    Scottycameron1
    • #3
    • 18th Oct 16, 8:58 AM
    • #3
    • 18th Oct 16, 8:58 AM
    100% you can get a mortgage. I just had a mortgage offer from a high street bank no broker just walked in off the street. Had payday loans 13 months ago as long as you are honest with them then you should be fine.
    • ap1985
    • By ap1985 18th Oct 16, 9:26 AM
    • 261 Posts
    • 102 Thanks
    ap1985
    • #4
    • 18th Oct 16, 9:26 AM
    • #4
    • 18th Oct 16, 9:26 AM
    As Scottycame mentioned you shouldn't have a problem getting a mortgage. I did off a high street bank with defaults, CCJ and a payday loan, albeit all from 5/6 years ago. Speak to a broker and get further advice, but don't write it off!
    Finally going to be a homeowner
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