Mortgages and credit history

DaisyBumbleroot

How bad does bad credit have to be before it messes with your chances of getting a mortgage?

I have had no CCJs or defaulted on payments, nearly always pay my c/c balance in full yet i have had the odd missed payment here and there and also gone over my overdraft more than once in the last year.....

How Bad is Bad !?!?!?

brannyrhino_2

DaisyBumbleroot wrote:

How bad does bad credit have to be before it messes with your chances of getting a mortgage?

I have had no CCJs or defaulted on payments, nearly always pay my c/c balance in full yet i have had the odd missed payment here and there and also gone over my overdraft more than once in the last year.....

How Bad is Bad !?!?!?

Different companies have different policy's and therefore difficult to say but generally if you go two months in arrears with your mortgage you will stuff future credit.

You should set up a direct debit with your credit card to make sure the minimum is paid each month so you don't get stung for charges. Again with your overdraft it should be there for emergencys and you should never ever need an overdraft your just lining the banks pockets. Banks love overdrafts and credit card companies love people who dont pay off credit.

DaisyBumbleroot

DaisyBumbleroot wrote:

How bad does bad credit have to be before it messes with your chances of getting a mortgage?

I have had no CCJs or defaulted on payments, nearly always pay my c/c balance in full yet i have had the odd missed payment here and there and also gone over my overdraft more than once in the last year.....

How Bad is Bad !?!?!?

GREAT!!!!! THE BOYF HAS JUST DECIDED TO TELL ME NOW HE HAS A CCJ!!!

This is BAD isnt it?

Is it possible to get a 4xsalary mortgage, then perhaps i could get mortgage in my name....

brannyrhino_2

Depends on the amount of the CCJ many forget its when below a certain amount ie £250 or even £500 if he can provide a good reason for default. Anyway he has to clean up his credit and pay off the default and get a "certificate of satisfaction" and he should have no problem in the future.