First time buyer

DJM1972_2

Hi

Looking for some general advice as to whether or not we are likely to get a mortgage as first time buyers

My girlfriend and I currently rent from a private landlord, but are looking to now buy a property. We have been in the rented property for 18 months, and never missed a rental/council tax payment.

However in the past I have had credit problems and currently have a 5 year old settled default on my credit report - the three credit agreements I currently hold are all paid on time, and no payments have been missed in the last 36 months as per my Experian Credit file.

My girlfriends credit report from Experian has no adverse details, her two credit cards are within balance and no payments have been late/missed missed in the last 36 months.

Currently I am using 6% of my available credit and my girlfriend is using 8% of her available credit.

Our respective credit scores from Experian are 899 (me) and 989 (girlfriend)

Any advice is most appreciated.

Thanks

poppy10_2

DJM1972 wrote: »

Currently I am using 6% of my available credit and my girlfriend is using 8% of her available credit.

What are the actual amounts you owe?
How much do you have save up towards a deposit?

iwantoneplease

I've just managed to get a mortgage with the Halifax and I have one settled CCJ on my account too.

All you can do is try, i've been with the halifax for years and my wages are paid into the same account they didn't find my CCJ a problem but some may say it depends on the amount you defaulted on.

DJM1972_2

Hi

Currently owe £2000 to Welcome Finance (loan) and £600 to catalogue with a credit limit of £10,000 - however the catalogue wiil be cleared in 2 months time. The other credit agreement is my mobile phone contract which is £25 per month.

Girlfriend has two credit cards with £500 limit - both balances are around £40.

Regarding the deposit - there are funds available from family if required, however we were not sure if taking on a shared equity/ownership property may be an option to also consider.

Should add that our combined monthly income is £2450. Outgoings per month to the above credit accounts are approx £250, once the catalogue is cleared this will reduce to £174. Only outgoings are usual living costs - rent/ctax, food etc. Currently we have after all payments are made approx £1000 per month as disposable income.

Thanks