Partner with adverse Credit

casualwalks

Hello

My wife and I would very much like to buy in the near future. We have around 10% deposit for the lower end of our scale (we could put 10,000 down on a £100,000 property). I think my credit record would be considered good, I have no missed payments, default,ccj's ect on any account. However, my wife has a late payment on a loan account from May 2007 and two month listed as AP (arrangement to pay) in July, August 2007 on the same loan (account was settled in September 2010). Sadly she also has a late payment on her credit card from March 2011. I would assume this constitutes a not so good credit rating.

My questions are:
1. Is there a lender anyone is a aware of that would accept this level of adverse credit at 90% LTV?
2. Could I get a mortgage on my own, despite the fact that we are married?

Additional info

My salary: £29, 000
Her salary: £29, 500
deposit:£10,000 (£ 7,000 in my account, £3,000 in hers)

We also have money for fees set aside.

Edit: I should also add we aren't financially linked in any way, we have no joint accounts. I've checked all three CRAs to be sure.

themull1

You could get a mortgage on your own. Maybe it would be a better rate rather than one with a partner who hasn't got a good credit rating.

izools

With such a recent missed late payment it wouldn't be a good idea applying now.

Even if you apply on your own, your partners credit rating would be considered as you are financially linked.

I suggest waiting until her most recent missed payment is at least 12 months old. That way you could apply together, and you would have more of a deposit to boot.

As it stands, you're unlikely to get anything even by yourself due to the financial association with the misses

themull1

They aren't financially linked!

casualwalks

We definitely aren't financially linked. We have kept all credit strictly seperate to ensure this. I've checked all three CRA no financial association is showing. I know that if we were to apply for a mortgage together, this would link us, which is why I am wondering if I should try on my own.