How much of a deposit to overcome bad history?

rocks+mountains

Hello,

I was just looking for some advice about how big a deposit is needed to overcome bad history do people think?

Me and the OH are looking at buying a house in the near future. Both in full time jobs and earning about 40k between us. My credit history is fine, everything up to date and never missed a payment.

My OH has about 4k of debt on a loan which has about 18 months left to run, his credit history is not brilliant though. Nothing major but there are about 5 late payments, a couple from a few years ago and then 2 from the start of the year when he didn't get his d/d set up right (I have yelled at him over this when I found out!)

We are looking at having a 25% deposit, mainly from my savings, on a house in the region of 110000k. This means then we would be looking at borrwing about 2x our joint income.

I know my OHs lack of thought puts us on the back foot but given the size of the deposit we can put down I wonder if this will be enough to negate his not so perfect credit?

Any thoughts would be appreciated on our chances.

Thanks

Dave_Ham

Its a better situation than you think..

Taking your details as fact, presented to the right lender and I think you will be fine.

You can take this as pretty much fact, I deal solely in difficult cases everyday with good success.

Your circumstances are better than 95% of these, so feel confident.

All the best