chance of a mortgate

andrea1968_2

Evening all

Come February I will at last be debt free - hurray :jand will be throwing every single penny into saving for a deposit with my OH.

We should, fingers crossed have enough by Jan 2012, but my question is although I'll have been completely debt free for 12 months, and never made late payments or had CCJs, I did have £17k of debt at one point and its taken about 6 years to pay it back.

Are we likely to get a mortgage given that history?

Thanks in advance

GMS

Mortgage lenders are changing criteria daily so impossible to say what will be available in Jan 2012.

You have not mentioned amounts and income either so could not predict as of today even.

andrea1968_2

It was more the fact of my previous debt, as to how they would view that, but thanks for your reply

GMS

It all depends how your debt was managed.

Having and maintaining debt is viewed as a good thing as it shows a responsibility with finances.

If the debts were being paid late and led to defaults etc then this would be viewed badly.

Lenders usually have credit scoring systems which will take into account the conduct of current and past finances.

Hope this makes sense.