Poor credit history but would like a mortgage

dougfunny

i bought a house in 2003 with my ex gf, we got into debt then she left me with a debt of around 14000 plus other little bits. we split in 2006. since then i have began paying off these debts and am doing well. i now also have my own business and things have come a long way since 2005/6. i have a new gf and we want to buy a house but i think (rather know) that my credit rating is shot to pieces and therefore we wont be able to factorise my wage into the lending. i just want a fresh start and dont want to be never able to get credit again because of my ex. i dont want to let my new gf down when banks say no to us because of my history, any help would be greatly appreciated.

TEDDYRUKSPIN

I guess you have defaulted on a couple of things since 2006. This will stick on your credit report for six years and probably until 2012. Does not mean that after 2006 you have no missed an odd payment.

You have two choices:
(1) Order credit reports for the both of you.
(2) Definitely use an IFA. They will scour the market for you.

PS. Much difficult at this moment of time and even if they offer you a mortgage is maybe on a very high interest rate.

Could you try and apply for a mortgage just on your GF name?

whitetiger.richard

TEDDYRUKSPIN wrote: »

I guess you have defaulted on a couple of things since 2006. This will stick on your credit report for six years and probably until 2012. Does not mean that after 2006 you have no missed an odd payment.

You have two choices:
(1) Order credit reports for the both of you.
(2) Definitely use an IFA. They will scour the market for you.

PS. Much difficult at this moment of time and even if they offer you a mortgage is maybe on a very high interest rate.

Could you try and apply for a mortgage just on your GF name?

This is GREAT advice. I slipped up by not paying some money off an overdraft and even though I stayed within the limit I still got a not-so-nice mark applied.....experience is a great teacher! :rotfl:

I applied earlier this month to a large mortgage provider for a relatively small mortgage and was turned down flat. Then I followed this site's advice and got a whole of market broker on the case - no problem!

Also definately worth getting your credit report (which of course you could get with a free trial by following this site's advice).