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  • FIRST POST
    • reggieroo1980
    • By reggieroo1980 10th Jul 17, 7:14 PM
    • 4Posts
    • 0Thanks
    reggieroo1980
    Mortgage after debt
    • #1
    • 10th Jul 17, 7:14 PM
    Mortgage after debt 10th Jul 17 at 7:14 PM
    We got ourselves into a lot of debt through reckless spending, the debt was about 30k but over the last 3 years of living within our means and changing our spending habits we have just managed to pay it off, we have never missed payments and always paid our mortgage for the last 12 years. My question is are we likely to get a decent mortgage or will the fact we had debt go against us? we earn £55k between us and have 70K equity in our current home.
    Thanks Reg
Page 1
    • Debtslayer
    • By Debtslayer 10th Jul 17, 8:49 PM
    • 349 Posts
    • 515 Thanks
    Debtslayer
    • #2
    • 10th Jul 17, 8:49 PM
    • #2
    • 10th Jul 17, 8:49 PM
    How much are you looking to borrow?
    Have you had any defaults?
    Current Mortgage 01.08.17 £114,371.25
    MFW Start Mortgage: £114,794.64
    Current MED: 2036 Target MED: 2026
    Overpayment Target for remainder of 2017: £2,000

    MFW No 124
    • glosoli
    • By glosoli 10th Jul 17, 9:58 PM
    • 575 Posts
    • 328 Thanks
    glosoli
    • #3
    • 10th Jul 17, 9:58 PM
    • #3
    • 10th Jul 17, 9:58 PM
    They will be interested in what your current credit report contains rather than debt levels of the past. If your debts are at low levels now and assuming no bad bureau in terms of arrears, defaults, etc, then you have little to worry about.
    • reggieroo1980
    • By reggieroo1980 11th Jul 17, 7:32 AM
    • 4 Posts
    • 0 Thanks
    reggieroo1980
    • #4
    • 11th Jul 17, 7:32 AM
    • #4
    • 11th Jul 17, 7:32 AM
    We've got no defaults, arrears or missed payments.
    Thanks for the replies.
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