looking for a mortgage with a bad score

william1986

hi my credit score is around 630, my partner is really good with money and has a good credit rating. what are the chances of us actually getting a mortgage as i am really worried. there is 2 accountsd still open and i cancelled them last year.

Dave_Ham

Ok - possible but you need to provide loads more information..

How much deposit, income, employment, rough purchase price and anything else about why your credit number is bad...?

This number is of no use though, the content of your credit file is the important thing...

william1986

we have a 20k deposit, my income is 14k and hers is 5k we are looking at a 90k house and i have had 2 late payments and a arrangement. but i also have 2 cards on there that shouldnt be can i close those and would that make a difference. thanks for reply

Dave_Ham

Should be ok on income, what is the arrangement details??

william1986

it was cus the repayment was too much than i could afford. but that account is the one i want to be closed. how do i go about closing those accounts, just call them. is this score a really bad score. whats going in our favour and against it. thanks for reply

Dave_Ham

Would need to see what they marked on your credit file.

You need to logon to Experian and Equifax and get your credit files.

When you say closed, I assume you have now paid it off which is good news.

Did they default or County Court Judgement you?

Deposit goes in your favour massively, income is ok but you will need credit score to be ok...

william1986

my other half has a good credit score does that help. yea i have payed off both cards but are still open, nope i havent got and county court judgments to my name or a default. they just adjusted what i was paying so i could afford it. then i payed it all off in one go. looking at it ther is 90% green ok 1 red and 2 ambers thats it over since 2008 it says.

Dave_Ham

You should be ok, but obviously it is hard to tell from just an overview so see someone local to run through it properly with you but on face of it ok..



Good luck

Conrad

Low incomes and past history will be an issue with regards to lender credit scoring systems. Maybe try lenders that do not use credit scoring. Smaller Building Societies often do not credit score.

Don't try Santander.
Personally I'm more or less certain all these will decline;

Woolwich / Barclays
HSBC
RBS / Natwest
Halifax / C&G / Lloyds
Northern Rock / Virgin
Accord
Nationwide


So if it were me I'd avoid those lenders as you will get a decline, and have unecessary credit searches.

william1986

what other lenders could we try.

william1986

the majority of my history looks green its only 1 red and 2 amber.