Really nervous about mortgate advisor visit.........:(

embod123

Hi All,

Im new to the site so please be gentle with me:)

Today me and my wife are off to see our local mortgage advisor today to basically "see where we stand!". We have been renting for 7 years now and since the dissapearence of the 100% mortgage have resound to the fact that we may never be able to buy!

The father in law has now got involved and told us to go see this mortgage advisor, just to see where we stand in terms of how much we could borrow and what sort of deposit we are going to realistically need. There are a few things im really worried about though:

I had a credit card with a £500 limit 4 years ago which i defaulted on, the account has cleared now but will still be on file.

My wife has had a few catalouges over time we have been together, missed a few payments here and there and defaulted on at leat two. - Again now cleared and satisfied.

On a slightly better note we have 2 joint current accounts which have been run 100% fine over the past 5 years.!

I have never had an experience of seeing a mortgage advisor so am finding it a very daunting. The advisor im going to see has been recommended by lots of people and is a "whole of market" advisor.

Thanks for reading and any advice would be greatly recieved:)

GMS

Ask as many questions as you like, regardless of how trivial you may think they are.

Give the full story on your situation. This will help the adviser greatly. If possible get copies of your credit report too.

Above all do not worry, the adviser is there to help you.

Good Luck

embod123

Thank You!

A few more details are as follows:

I earn £20k Per year and my wife around the £7k mark. Like i said before we have had a few defaults but nothing totalling a great deal the biggest one was my £500 credit card.

At the minute we dont have a deposit but family members have expressed an interest in helping us out, thus the reason we need to see if can even get a mortgage!

maninthestreet

With a 8K deposit, perhaps you will be able to get an 80K mortgage - what sort of property will you get for £88K in your area?

embod123

Hi,

Weve been looking in a certain area near to our daughters school, a typical 3 bedroomed house is around £80k average. We recently saw one for £75k which would have been perfect for us.

If we could get £80k that would be great!!!!

Heres hoping!!!

foreversummer

Good luck embod123. I really hope it works out for you. Sounds promising!

Foreversummer