First Time Buyer Help Please!

toon85140

Hi all. Me and my gf are about to start looking for our first house. We have managed to scrimp and save for the last few years at get 21k for a deposit. She has a pretty much perfect credit score. I have had a little bit of trouble in the past when i was at uni 4 years ago, mainly with credit cards, having stupidly missed payments and defaulted on them. I have paid all of this off and have had them settled for over 2 years now. I do however have a loan with hsbc for 2k that i am still paying off and i have my overdraft of 1k.

Will this in anyway effect my chances of getting a mortgage. I have been onto credit expert and looked at my credit report and score and i currently have a score of 853, is this deemed good enough to get a mortgage. I know that my past stupidity might mean we're not able to get the top deals but i'd like to think there is something out there for us??

Any help or advice is greatly appreciated as this is a huge worry!!

Cheers

MrandMrsWoo

toon85140 wrote: »

Hi all. Me and my gf are about to start looking for our first house. We have managed to scrimp and save for the last few years at get 21k for a deposit. She has a pretty much perfect credit score. I have had a little bit of trouble in the past when i was at uni 4 years ago, mainly with credit cards, having stupidly missed payments and defaulted on them. I have paid all of this off and have had them settled for over 2 years now. I do however have a loan with hsbc for 2k that i am still paying off and i have my overdraft of 1k.

Will this in anyway effect my chances of getting a mortgage. I have been onto credit expert and looked at my credit report and score and i currently have a score of 853, is this deemed good enough to get a mortgage. I know that my past stupidity might mean we're not able to get the top deals but i'd like to think there is something out there for us??

Any help or advice is greatly appreciated as this is a huge worry!!

Cheers

In short I would imagine so however the usual responses to these types of questions from mortgage advisors are questions around the defaults, how much etc?

You've ordered a credit report which is good but only a whole market mortgage advisor would be able to marry you up to the right company for your circumstances.

The deposit is a big help for sure but try to get the lowest LTV you can... not always easy but certainly a help.

Hope that helps!