16 late credit/ catalogue payments in past 36 months any chance of a mortgage??? :(

catmcq17

16 late credit/ catalogue payments in past 36 months only 1 of which was in past 12 months, all credit balances are now clear is ther any chance of me getting a mortgage??

Any help/ guidance very welcome!

hillcats

It doesn't look good to any lender that you are going to be reliable in paying their money back on time as agreed, does it?

I think you will have some LARGE problems getting a mortgage loan.

originalmiscellany

Best thing to do is to keep your head down and get a few years of clearing all other debts and hitting every payment. Then in 2013, you could try again, but still you may have issues. 16 in 36 is just under 1 late in 2 months. Hillcats tells you like it is sadly.

opinions4u

catmcq17 wrote: »

Any help/ guidance very welcome!

Would a lecture help?

Grow up (sounds like you've started to - a bit).

Take responsibility for paying all your bills on time - one missed or late payment IS a big thing.

Look at the situation again in 2 year's time when you may have more chance.

_Andy_

catmcq17 wrote: »

16 late credit/ catalogue payments in past 36 months only 1 of which was in past 12 months, all credit balances are now clear is ther any chance of me getting a mortgage??

Any help/ guidance very welcome!

Is it possible? Depends on how much deposit you have saved up in relation to the property value.

Is it a good idea? Given you have struggled with a smaller, unsecured debt, probably not.

DVardysShadow

Catalogue credit? I don't know whether any lender formally scores against it, but even when it is paid on time, that sort of credit sort of implies that you are not really on top of your finances, because if you were, then you would buy most catalogue stuff outright, or at worst you put it on a credit card. With such a poor record of repayment of such low end credit, if you do find a mortgage, it will be at spectacularly poor interest rates.

Derivative

To be honest, with that many missed payments, I don't see how you can even be in a position to take a mortgage out, unless you had some sort of windfall inheritance payment.

catmcq17

opinions4u wrote: »

Would a lecture help?

Grow up (sounds like you've started to - a bit).

Take responsibility for paying all your bills on time - one missed or late payment IS a big thing.

Look at the situation again in 2 year's time when you may have more chance.

Thanks for the grow up lecture - it is very helpful and very much appreciated.

dunstonh

catmcq17 wrote: »

16 late credit/ catalogue payments in past 36 months only 1 of which was in past 12 months, all credit balances are now clear is ther any chance of me getting a mortgage??

Any help/ guidance very welcome!

From a lenders perspective you have the problem that you have shown you cannot handle a simple financial contract like a catalogue responsibly so what chance do you have with a more serious liability.

Typically, lenders get worried with 1 or 2 late payments. 16 is just taking the mickey.

_Andy_

catmcq17 wrote: »

Thanks for the grow up lecture - it is very helpful and very much appreciated.

Sarcasm aside, you still havent stated how much deposit you have saved up and intended property value - until you do, no-one can answer your question (hence why I mentioned it previously)

opinions4u

_Andy_ wrote: »

Sarcasm aside, you still havent stated how much deposit you have saved up and intended property value - until you do, no-one can answer your question (hence why I mentioned it previously)

Sarcasm? Shucks, I thought my wise words had been accepted as helpful for once!