General advice will I be ok

rosiest

Im really needing a bit of advice before I start going to the bank

I am hoping to move and was planning on waiting until next year but have seen a house I really like but i have some late payments and worried its a lot harder to get a mortgage than when i got my current one.

Current house value is £123000 mortgage outstanding £63000 ( never had a late payment held for 10 years)

I earn £38000 and husband £19000

looking to but a house for about £160000 and put down 25% deposit.

Late payments are between 2005 - 2008 upto 4 months late recorded but no defaults. Also have £9000 on CC's just now but can easily afford minimum ( paying extra £700 to them monthly just now ) and will pay off once house sold and credit score is 454 on experian just now.

I am with santander and would stay with them for new property but worried my credit cards and old late payments may stop them approving a mortgage due to it being harder to get one.

Am i worrying about nothing ?

ACG

Your experian score is quite low considering the late payments are so long ago and you have credit (mortgage and cards) which you are currently paying off. However that being said its just a score so its not the be all and end all.

You might stand a better chance with santander as you presumably have a good record with them. Maybe call them up, speak with an underwriter and offer to send over a copy of your credit report?
If not then there are lenders that may accept you with your history - but these lenders tend to deal with brokers only.

Based on affordability i think you will be ok, especially if you are paying off the credit cards anyway.

rosiest

Ive def not got any late payments since then and have CC's with quite high avail balances. I thought my credit score would of higher as well but on experian only thing its marks as less than good or excellent is those late payments. Unfortunately some were only closed on 2008 so wont drop off for some time yet.

ACG

There are lenders who wont credit score you (they will credit check though) so you might be better with one of those but, i think you will find someone to lend to you though.

rosiest

Thanks think i'll speak to santander first since ive been with them for & years and hopefully be ok