should we even be thinking about a mortgage?

bride2be2012

My partner and I have just got engaged, and would like to buy a house together before we get married. We both currently live with our parents.

I've a fairly patchy credit history - I've been late with credit card payments and once a loan payment, gone over my overdraft limit goodness knows how many times etc etc. I've never had any CCJ's or anything like that though. I did have one catalogue account that went to a debt collection agency, but I paid that off when I got their first letter. All this happened approx 18 months - 2 years ago and I've not put a foot wrong since - learnt my lesson! Currently on track to be debt free by Nov 2011.

How long is this likely to affect my credit rating when aplying for a mortgage? I've read anything between 3 and 7 years.

I know we'll need a deposit, and my partner has some savings, and my parents have said they'd rather help us out with a depsit than a flashy wedding - it's not our style anyway to have a big do, so it suits us nicely!

dimbo61

You need to get a copy of you credit report so write to the credit agencies and send a cheque for £2 to them.
Get saving you need at least 10% and better still 15% deposit
Good Luck

Conrad

From what you say I think a small building society might be a be able to lend you 85%.

bride2be2012

thanks guys. Forgot to say, we're not planning on buying for another two years. I just really want to know at the moment if we stand any chance of getting a mortgage then with my past problems. All my problems with late payments etc will be about 4 years in the past by then, so will they still be showing on my credit file then?