Getting a mortgage bad credit report

JimmyTheWig

What outstanding debts do you both have?

michaelaj23

Thanks for your help.

Just to let you know or anyone reading this who is in a similar situation. We got approved by Halifax but not quite for the amount we need.

But atleast it gives us a realistic price and a little more time to save for a deposit as the builder was pressuring us after releasing the property sooner than we thought they would.

Dave_Ham

Well done - remember this is just the Agreement In Principle and is not a hard credit check. They can still decline at full application so do tred carefully still.

Good news about them only showing as 1 on credit file, essentially a 2 would mean you have missed 2 payments back to back and this would have hurt more.

Good luck.

michaelaj23

I know But atleast it is something more positive than a straight no. We have some time to work on it a little more. There was no rush as we originally thought we had until September to arrange things.

I can also lower my debt and build my partners credit rating up as at the moment he has none other than his default. Which most likely would have went against us as he has no record of anything else.

Dave_Ham

michaelaj23 wrote: »

I know But atleast it is something more positive than a straight no. We have some time to work on it a little more. There was no rush as we originally thought we had until September to arrange things.

I can also lower my debt and build my partners credit rating up as at the moment he has none other than his default. Which most likely would have went against us as he has no record of anything else.

Good call - just stick to it over the Summer months - time is a great healer on credit files.

Good luck