First Time Buyers- Gov't FirstBuy Scheme

toddler9

Hi there, have posted similar questionon CC forum.

Basically myself and partner are looking to apply for the Gov't First Buy scheme in January for a house we have seen avaiable on the scheme. We will need a mortgage of £119k 75%LTV with incomes of £27 and £20k before tax.

This week i was essentialy 19 days late with my cc payment due to an honest mistake. Basically i made the payment before the statement was generated and therefore did not count towards the min payment for that month instead counted for last months I have been building my credit history for 6 years and otherwise have a spotless record as does other half. MBNA have said the late payment may/may not be registerd with the credit refernce agencies.
My question is- if it is registered as a late payment on my file will this completely blow our chances for a mortgage? We are so worried because the number of lenders agreeing to the FirstBuy Scheme is quite small. Also we both have overdrafts which are never exceeded and paid into each month- will this count against us in the application? The mortgage advisor at Natwest says overdrafts dont count at all but I dont know if thats true.

So in short will one late payment and being in an arranged overdraft have a big impact on our mortgage worthiness?>

kingstreet

Don't post the same thread on multiple forums! :eek:

Obtain credit files from all three credit reference agencies to establish exactly what information is held on you. On receipt, take them to a whole market or independent broker and get an opinion based on the relevant information.

All activity now here;-

https://forums.moneysavingexpert.com/discussion/comment/47349089#Comment_47349089