We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
First Mortgage & Debt - Help!
Gribbler
Posts: 4 Newbie
Hello. I am hoping you can give me some advice before I go and speak to an IFA/my bank.
I currently live with my fiance who has a mortgage on a flat. My name is not on the deeds as he bought it before I came along, but I have been paying half the mortgage payments and bills since I moved in (and can prove this on my bank statements).
We are hoping to join forces and upgrade to a bigger house after we marry in March. However, my credit history was very bad 6 years ago. Currently Experian are saying I have a 'fair' rating score of 761.
I have about £12,000 worth of debt that I passed over the debt management company 6 years ago. I have been making regular (small) payments ever since and the defaults are due to drop off in August.
When I look at 'Amount of Credit Available' the only amount showing is from my Next account, which I have been very careful to pay on time and usually in full.
My questions are:
- When these defaults drop off, will the banks be able to see that I have this debt? It is not showing on my credit report at all other than the default as far as I can see.
- Am I likely to be able to find a company to give me a mortgage with my husband? He has no credit issues and as per above is a current home-owner.
My salary is currently about £26,500 including bonuses.
Thanks in advance!
I currently live with my fiance who has a mortgage on a flat. My name is not on the deeds as he bought it before I came along, but I have been paying half the mortgage payments and bills since I moved in (and can prove this on my bank statements).
We are hoping to join forces and upgrade to a bigger house after we marry in March. However, my credit history was very bad 6 years ago. Currently Experian are saying I have a 'fair' rating score of 761.
I have about £12,000 worth of debt that I passed over the debt management company 6 years ago. I have been making regular (small) payments ever since and the defaults are due to drop off in August.
When I look at 'Amount of Credit Available' the only amount showing is from my Next account, which I have been very careful to pay on time and usually in full.
My questions are:
- When these defaults drop off, will the banks be able to see that I have this debt? It is not showing on my credit report at all other than the default as far as I can see.
- Am I likely to be able to find a company to give me a mortgage with my husband? He has no credit issues and as per above is a current home-owner.
My salary is currently about £26,500 including bonuses.
Thanks in advance!
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards