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could i get a mortgage?
gonnabedebtfree
Posts: 117 Forumite
hi as the title says thats what i want to know, im 27 and my husband is 34. we have some debt but will hopefully paid this off by jan 11 maybe earlier if i can. my husband had a house before i knew him but due to debt problems he had to sell it.
so when our debts are paid would i be able to get a mortgage? would love one now but dont think id get one.
so when our debts are paid would i be able to get a mortgage? would love one now but dont think id get one.
debt £emergency savings £0/£1000Sealed pot challenge #54
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Comments
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Providing you have no defaults and a 10-15% deposit in cash you should be able to get a mortgage.
Worth getting both of your credit scores and ensuring you hav good scores (you are on voters roll etc). May be worth cancelling some of the credit cards you have (with zero balances) as banks can look unfavourably on lots of open credit lines.0 -
I think that in most cases you need at least 5% deposit plus other fees and costs, even higher deposits in some places.
I think only Direct Line do 95% mortgages now from my own research. If you have a deposit you should be ok getting a mortgage dependant on how much you earn etc.0 -
gonnabedebtfree wrote: »hi as the title says thats what i want to know, im 27 and my husband is 34. we have some debt but will hopefully paid this off by jan 11 maybe earlier if i can. my husband had a house before i knew him but due to debt problems he had to sell it.
so when our debts are paid would i be able to get a mortgage? would love one now but dont think id get one.
How much deposit do you have saved up?0 -
i have about £3000 at the minute, not a lot but its a startdebt £emergency savings £0/£1000Sealed pot challenge #540
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Yep there's a lot of saving to be done.
You mention in your first post about 'debt problems' - could you expand on the adverse credit?0
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