Mortgage Help

choccygirl

Hi, I have a credit score of 536 and earn £15000 pa, my husband has a credit score of 740 and earns £24000 pa.

Should we be ok for a joint mortgage of £35000?


We know he could apply for one on his own but we need it to be a joint application (we do have our reasons, lol)

I know 536 isn’t the best credit score but should his good credit score counter balance it when we apply and should we be fine?


Thanks

Anonmouse

£35,000? less than 1x income multiple - should be no problem assuming you don't have a mountain of debt and your deposit exceeds 10%.

worried_jim

Ignore your credit "score" it means absolutely nothing to lenders and is just a way for credit agencies to con money out of you.

choccygirl

thanks, and yes £35000 is correct, Property is £40000 and we have £5000 deposit.

Between us we have just under £10000 loan

so you reckon will deffo be ok?

BoGoF

Unless there are any 'nasties' on your credit report like recent CCJ's/defaults then it should be ok......is there anything lingering on them?

choccygirl

Nope nothing like that, just 2 consecutive late payments on a credit card 3 and 4 months ago, but that card is now paid off in full.