How to improve our chances?

Ariel80

Hello! I’m a long-term lurker hoping to apply for a mortgage to buy a new house next year. We’re trying to get “our ducks in row” on the financial side of things to improve our chances

Credit reports
We requested these reports last year but got a bit lost with the fancy tables and different scores. What should we be looking for? My OH had a joint mortgage (about 6/7 years ago) with an ex and she’s shown on his report as an "association" I think was the wording. Can this be removed or is it shown as part of his credit history?

Current accounts
I’ve moved from Lloyds to First Direct last month will this matter on the checks that they carry out? It is worth keeping the Lloyds account open with a small balance as I’ve banked with them for years? If there's no benefit then I'll close it.

Credit cards
Final payment will be made today on my credit card then we’ll be finally debt-free – whoop whoop! :j Again should I close this account or use it for some purchases and pay off the balance in full each month?

Overdrafts
We’ve both had huge overdrafts and lived in them for years Even if don’t them again, will our history count against us?

Affordability
The current mortgage is with Nationwide, we’re working towards a deposit & fees fund of £80k and have a joint income (both full-time employees) of £68k with no dependants or outstanding debts. Ideally we would like to a buy a house for around £250k so would approval for a mortgage of £190/180k will be doable? The purchase price may increase towards £300k, as there’s a distinct lack of houses around £230-£280k in our area, but we’d rather not!

Sorry for all of the questions but I’m worried that we’re had our heads in the sand when dealing with our debts so trying to suss out what the knock-on effect might be and what else we can do to improve it.

Thank you in advance :T
Ariel

Dave_Ham

I do not think you need any help, all looking good.

To qualify for the top tier rates, you need to ensure you are squeaky clean between now and then.

No missed payments and certainly no payday loans (just in case..)

CLAPTON

get rid of the 'association' - contact the credit agencies and explain there is no longer any financial assiciation

keep the Lloyds current a/c and use it a bit; may be useful in any event

CC ; use regularly for things you buy anyway and pay in full each month

ODs: avoid using them

sheilds

Just make sure you use a good "whole of market" broker.
Loyalty to a bank-even if you have been with them for years count for nothing these days-in my experience,
Good luck:)