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Mortage and defaults
R4ch43l
Posts: 1 Newbie
My partner and I are interested in buying a house valued at 135000. My parter's house is valued at 115000 and I am waiting to sell a property partly left to me in a will. From this sale I should gain approximately 20000.
We went to see the mortgage advisor today and on paper, it all looks very positive. My partner earns around 21000 per yr and I earn 18000.
He still has £82000 outstanding on his current mortgage.
The only problem seems to be that I have been irresponsible in the past with regard to paying back credit on time. I have borrowed thousands and it is now thankfully all paid off in full. I have never had CCJ's or been black listed but my credit rating is very poor due to the missed payments.
Will I stand any chance of getting a mortgage with my partner, who has very good credit history?
We went to see the mortgage advisor today and on paper, it all looks very positive. My partner earns around 21000 per yr and I earn 18000.
He still has £82000 outstanding on his current mortgage.
The only problem seems to be that I have been irresponsible in the past with regard to paying back credit on time. I have borrowed thousands and it is now thankfully all paid off in full. I have never had CCJ's or been black listed but my credit rating is very poor due to the missed payments.
Will I stand any chance of getting a mortgage with my partner, who has very good credit history?
0
Comments
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Quote: my credit rating is very poor due
By your description it is highly unlikely...also when someone with impaired credit makes a financial association (joint mortgage) with some with good credit (yr partner)..yr impaired credit can impact on them in the future when they apply for credit.....0
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