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Mortgage-any chance??
ajames68
Posts: 5 Forumite
Hi experts
Currently looking for a mortgage. Purchase price £165000 and we have a 20% deposit. But here is the crunch, I have an untidy credit report, I have 6 late payments in the last year but nothing in the last 7months. I also have a default from just under 6 years ago for £715 which was settled immediatly. Our broker has recommended Halifax as they have a more flexible approach to past credit problems.
My annual income is £41000 and I owe £10000 on credit cards and a loan. I do not have an overdraft.
What are the chances of a mortgage with these circumstances? Or will or situation be better in 6 months if all payments be made on time.
Any help will be appreciated.
Currently looking for a mortgage. Purchase price £165000 and we have a 20% deposit. But here is the crunch, I have an untidy credit report, I have 6 late payments in the last year but nothing in the last 7months. I also have a default from just under 6 years ago for £715 which was settled immediatly. Our broker has recommended Halifax as they have a more flexible approach to past credit problems.
My annual income is £41000 and I owe £10000 on credit cards and a loan. I do not have an overdraft.
What are the chances of a mortgage with these circumstances? Or will or situation be better in 6 months if all payments be made on time.
Any help will be appreciated.
0
Comments
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Sorry forgot to say we are currently renting and have been for the past 5 years at £600 a month and have made all rent payments on time.0
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Hi,
Firstly, Halifax are one of the more flexible lenders for sure.
Is it a single mortgage or if joint, does your partner earn and/or have credit commitments?
Do remember an Agreement in principle with Halifax is only a soft foot print and does not guarantee an application will be accepted, read on the forum previous threads on this although would hope your broker is aware of this..I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
How much of your debt is on credit cards? Could you not clear this.
With a sizable deposit to hand. What's the history behind the late payments. As looks very poor from a potential lenders point of view.0
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