Co-op Mortgage Profile

michael1983l

Hello,

We were after some help regarding the co-op mortgage lending criteria.

We are on the own home housing scheme and they are putting up 30% of our £135,000 payment effectivly meaning a 30% deposit.

The Co-op is the only lender you can borrow from for this scheme and was wondering what the criteria isd they will look for. Its a single application for £90,000 which my wages cover effectivly. I have checked with experian who they check with and they say that only 38% of the UK population has a better credit profile than me and rank me fair to good. There are no blemishes on the credit profile although when I was younger I clocked up alot of debt but im not currently over my leding limit.


Can anybody help me out that may know if I would fit the bill for the co-op in theory so that I don't waste my time applying if I will never get it.


Help greatly appreciated.


Thanks

Robert_Sterling_3

michael1983l wrote: »

There are no blemishes on the credit profile although when I was younger I clocked up a lot of debt but im not currently over my leding limit.

What is the total of your credit limits on Credit Cards and overdrafts etc.? Not how much do you owe but how much are you allowed to owe.

michael1983l

Robert_Sterling wrote: »

What is the total of your credit limits on Credit Cards and overdrafts etc.? Not how much do you owe but how much are you allowed to owe.

My experian report says I can borrow up to £10,000 on non mortgage and I owe close to £8000.