Getting a Mortgage...3 years afer bad credit (missed payments etc)

Optimisticred

Hi Folks,

I have just come out of having a bad credit history for the last 18 months consisting of:
· Missed/late payments on credit card
· Going overdrawn a few times
· Having to set up a payment plan over 5 months on my O2 mobile as received a huge bill

None of these have been recorded as a default though.

However, since February I have been on the straight and narrow keeping all payments up to date and in a few months time I will come into £10,000 which will pay off all my debts so apart from my government student loan I’ll be debt fee!

My fiance and I are hoping to save up once we’ve paid our debts off and hoping to buy a house in 3 years time for summer 2014. My question is how long does it take to get a good credit score back up and if I’ve been on the ‘straight and narrow’ for three years do you think i/we’d be able to get a mortgage?

Thanks,

beecher2

If you've only got a 10% deposit you might have problems, but no-one can say for sure what lending criteria will be like in 3 years time.