Mortgage chances??

ajames68

Hi moneysavingexperts. We are currently planning to move out of our rented accommodation and purchase a house. What are the chances of us getting a mortgage? My income is £35000 plus £8500 per year from an armed forces pension. We have a deposit of £32000 and are looking to borrow around £140000. However I do have some debts - £5600 on a personal loan, £3500 on credit cards. My credit file does show a few late payments but nothing in the last year, but I do have one default from 6 years ago (due to drop off in July I think) which was settled immediatly and one arrangement to pay from 4 years ago which was also settled quickly. We currently pay £600 in rent a month and have never been late or missed a rent payment in the 5 years we have been here. What are our chances of getting a mortgage?

ACG

You should be ok. I would suggest you get a copy of your credit file and go and see an advisor though.

I dont think every lender will accept you so to save your time and credit file its worth getting ti done properly.