Will I be able to get a mortgage with some bad previous credit? Advice needed please!

toon85140

Me and my girlfriend are hoping to try and get a mortgage in the coming months. She has a near perfect credit history, no previous problems, very sound with money. She doe's have a car on finance but that has nearly been paid in full. I made some mistakes when I was at uni (about 4 years ago) and have paid off a large chunk of it but still have a bit to go. I have 1200 of an overdraft left to pay off that will be paid by the end of the summer. My main worry is that I have a 'managed loan' with hsbc for 1580. I have been paying 30 off a month for the last 2 years, have missed no monthly payments and had no problems with it. I've seen however on the web that these types of loans aren't great and could cause us problems? I don't want to apply for a mortgage and get turned down as obviously this won't look good on mine or my girlfriends credit file? I am going into my local HSBC branch tomorrow to talk to them and see if anything can be changed. I have recently changed jobs and am getting paid alot more so i'm wanting to increase my monthly payments. I have had credit cards in the past but they are now all paid off in full and i try to use the one i have left a small amount each month and then pay it off in full as i've heard this looks good when you apply for credit? I have also checked my credit rating and i have one of 731. Is this usually deemed good enough for a mortgate?

Any help or advice on this would be greatly appreciated as it is a real worry!!!

Cheers.

_Andy_

Ok first things first - how much deposit have you got saved up?

toon85140

We should have about 18000
and we've been told we'll be looking at s property of no more than 140000.

getmore4less

How much a month are you saving per month?

Where is the money for the mortgage coming from if these debts are getting paid so slowly.

Income?

toon85140

getmore4less wrote: »

How much a month are you saving per month?

Where is the money for the mortgage coming from if these debts are getting paid so slowly.

Income?

I'm earning 18.5k a year. Most of the deposit has come from parents. We're trying to bump it up ourselves to 20k. The managed loan is the last bit of debt I have to pay and I'm hoping to have it paid off by September at the latest so hopefully around the same time we will start looking at houses etc