Mortgage criteria queries

Cooper178

Hi,

I've been following this forum regularly since discovering it a few weeks back after putting my property on the market. One thing that its made me look at was my credit reports (something I had never done previously). I am lucky enough to have my property under offer in just a few weeks. I am now looking at offering on a new property and after checking my credit reports have a few concerns that I would like some advice on.

My experian and equifax scores are 999 and 507 however I noticed that I have a late payment (dec 2011) on my credit card. I wasn't aware of this at the time so I am presuming this was possibly due to Xmas etc and my payment not going in on time. The other probs on my report were from 2006 where I missed payments on a next account Oct and Dec. I have since set up direct debits for everything so that I never miss payments again.

Due to reading various posts about mortgage offers being declined I am now worried that the above may cause me problems?

Salary £26550
Current mortgage with Halifax £100k and car loan remaining £2800 approx (will be paid off)
Would be able to put down 60% deposit on new property.

I have a Halifax MIP of £132k but only require around £98k. I'm in Scotland.

Any advice would be great!

Cooper178

Can anyone give advice on this? Maybe rambling a bit in first post but just want to know if I will have problems applying for mortgage of approx £98000 with 60% ltv and 1 late credit card payment from dec 2012 and 2 from 2006.

Thanks

Dave_Ham

Sorry, you will be absolutely fine and certainly if you stay with Halifax.

There are better rates out there though...

All the best

redapple1

I think Halifax credit check you before issues AIP? They did with us. We had some late payments too similar to yours and got full offer! Nervously waiting to exchange/complete now!

Cooper178

Thanks for your comments. I didn't expect anything to come up on my credit reports so panicked a bit when the late payments showed up. I wasn't sure if I would need to wait until at least December to apply so that my missed payment would be 12 mths ago. I bank with Halifax and had 2 mortgages with them in the past 10yrs but will look around at other rates now that I know I should be safe to apply.

Keen on the tesco rates however I wasn't sure based on other comments I've heard whether it would be worth trying without a perfect credit history.

Dave_Ham

Not much love about for Tesco mortgages currently. Given your deposit, you may be better suited to bagging a longer fixed product in any case.

All the best