Likleyhood of getting a mortgage?

skinnybowler

Hi All, any advice on my position would be gratefully recieved:

We are looking to move house in March-June this year. It is quite a complex situation, so I will be finding a broker, but I wondered if anyone on here might be able to offer any advice.

Equity - Once sold and paid Estate Agent Fees, moving costs, Stamp Duty etc. - £zero
Deposit - 10% (gift from my parents)
Value of Property purchased - £175-180k

Income:
Myself - £40250 plus ~£4800 bonus
Wife - £15600
No dependants

Outstanding Debts:
NRAM Together Loan - £27500 @ £300 per month (as it increases to 12.78% on redemption of the Mortgage)
AA Loan - @ £336 per month
Credit Cards - £4800 outstanding

Credit History - No CCJs or defaults.
Late Payments - 1 in Apr-10, 1 in Mar-10 (different credit cards)
Also on our joint Current Account there are some "2"s showing, but no "1"s for Oct-08, and May, July, August and December -09.

What impact will these late payments have? We have had a completely spotless credit history since April 2010.

Thrugelmir

Are you downsizing?

Is your current mortgage interest only?

skinnybowler

Current mortgage is interest only - £121500. Originally was a Northern Rock Together mortgage at 120% (90% secured). With the fall in house prices, since 2006, I expect to lose about 10k on the sale, selling at £125000 (could possibly get more, but the stamp duty theshold makes this more difficult). By the time I've paid estate agent fees, etc. there won't be much left.

However, I have a significantly greater income than I did 5 years ago and also have my partners income to consider.