Advice please :)

Nins12345

My partner already has a mortgage of 68k our house is worth around 110k but we would be happy to clear 105k so 37k equity were also going to put 10k to that is a 47k deposit.Looking to borrow around 120k have been told we could borrow 150k but don't want to saddle ourselves.

My partner has a fantastic credit history. I now have an ok credit history iv not had any missed payments for a year never had CCjs or defaults but in the past I had a credit card around 5 years ago and had missed payments on it but that has all been settled now. I owe around 1200 at the moment on a barclaycard gold credit card and one store card at £200 which I am trying to pay a good 350 month off to clear quickly (my experian score is 745 I know doesnt mean a lot and puts me into the average category)

He earns 20k a year I earn 10k a year (also £7000 in tax credits for working does this count) his current mortgage is with Santander been with them for 10 years who we are looking at using again and he's the main applicant (our fa for santander said i would be a second applicant whatever that means?) I feel stressed that they are going to reject me is there anything I can do apart from trying to pay off my debt I am also on the electrol registrar, or am I stressing unnesseacarily?

Thanks

betmunch

Santander recently really tightened there credit scoring so you are right to be concerned.

Also if you are using a Financial Advisor (Salesman) for Santander then he can only offer you their products.

Try to remember the bank is not your friend and go and see an Independent Mortgage Advisor

Good Luck

Laura1979

I've just been offered a mortgage with Santander. We earn less than you and get similar tax credits, we also get CB which they included. They agreed to lend us 120k with a 30k deposit, I have an excellent credit score, my other half hasnt had enough credit to have an excellent score but he's never defaulted on the things we do have together (mortgage, bank loan & 2 short term intrest free finance deals) so he's probably got a fairly good one.
I would give them a call (or got your OH to call them) and question if your credit history will impact on the new mortgage. If it would how would you feel about him getting the mortgage solo? (We earn less than 20k between us & can still get 120k so you would think he could get the same if you add on the tax credits)

Nins12345

Thanks Laura were going into see her on wednesday night il have a word with her because I haven't even included the child benefit potentially we could have a 50k deposit 40k is the minimum so ltv would be around 65% thanks