Will I be accepted for a mortgage?

jen1978

Hi all, long time lurker, first time poster!

My OH and I have been living together for a few years now and have agreed that we now want to put the house in joint names and add me onto the mortgage.

The good points are - we are both employed, good incomes, and the total mortgage amount required is less than 1.5x our joint income. The current LTV is about 60%.

The bad point - about 4 years ago I was working overseas a lot and due to being disorganised and not having direct debits set up (I know, I know!) made a few late payments on credit cards - none were more than a couple of weeks late but in total I have 5 :eek: "1" late payment markers on my report.

How much are these likely to affect us now? Do late payments affect you for a full 6 years like defaults do?

We have no other debts other than a car loan which is on 0% finance so no reason to pay off early - we have the savings available to pay it off in full now if that would help.

Thanks for any advice :beer:

herbiesjp

With those figures you will definitely find a mortgage.

Steer clear of strict lenders though, who do not like any glitches on credit history.

McKneff

herbiesjp wrote: »

With those figures you will definitely find a mortgage.

Steer clear of strict lenders though, who do not like any glitches on credit history.

can you give us names of any of these please.

jen1978

Thanks very much HerbiesJP - we were looking at HSBC as the house is currently mortgaged through them, do you think they would be a good bet for us?

0james0

You'll be fine!

I'd advise shopping around and getting an AIP with the cheapest lender to see.

herbiesjp

jen1978 wrote: »

Thanks very much HerbiesJP - we were looking at HSBC as the house is currently mortgaged through them, do you think they would be a good bet for us?

I'd be surprised if they turned you down - however HSBC do like to cherry pick.

Nationwide also like squeaky clean applications.