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First Time Buyer - Credit Rating Issue
kaylaw
Posts: 6 Forumite
Hi
Can anyone help? Me and my partner are looking to buy a house. We are looking for a house price of approx £75000, with a 10% deposit.
We both earn £19k a year. I had an overdraft of £1750 which then got taken to a debt company. Its all paid off now.
Are we going to be able to get a mortgage for 90% based on this?
Thanks for any help!!
Can anyone help? Me and my partner are looking to buy a house. We are looking for a house price of approx £75000, with a 10% deposit.
We both earn £19k a year. I had an overdraft of £1750 which then got taken to a debt company. Its all paid off now.
Are we going to be able to get a mortgage for 90% based on this?
Thanks for any help!!
0
Comments
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How old is the default?0
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Order credit files from all three CRAs. Take them along to a meeting with a good independent or whole market broker.
Equifax
https://www.econsumer.equifax.co.uk/consumer/uk/gb_consumerletter.ehtml
Experian
https://secure.wiseconsumer.uk.experian.com/wiseconsumer/secure_index.html?data=00
CallCredit
https://www.callcredit.co.uk/stat-report-online/index.php?action=register_display&tpl=regPurchaseI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I received the letter early last year and final payment was in december.
How would the credit files help? Sorry if thats a stupid question!!0 -
It'll tell the broker who, what, when and where of your credit history and show any issues you don't know about yourselves. It'll point up any corrections which may be required before making a mortgage application.
£2 each and well worth it.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
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Thanks.. Do you think we'll still have a chance of getting a mortgage?0
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I would think your chances are slim at that LTV0
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