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Mortgage and Credit Report
dalehitchy
Posts: 64 Forumite
so me and my partner got married a few months ago and we are looking to buy a house. We obviously need to save a deposit so we have agreed that he pay the rent for the next 6 months / year while all my money goes to saving a deposit. Great.....
But Ive just signed up to Check my File . com just to see what my credit history is like. Its not AWFUL.... but it could be better. Here is an overview of my credit...
Positive
No Court Judgements
10 Clean Accounts
Negative
Aged 23
Not On Electoral Roll
2 Cases of Arreas
1 Arragement
Now the electoral roll has been fixed the agencies just need to update that. I cant really do anything about my age. Im just wondering how bad the other two will affect me. Both have been completely paid back in full.
Apprently my Credit Scores are below average... 719... the average being 750. Im just wondering if the arreas and arrangment will impact me alot when apply for a mortgage. Me and my partner are looking to buy a home for around £75000 with a £10000 deposit.
But Ive just signed up to Check my File . com just to see what my credit history is like. Its not AWFUL.... but it could be better. Here is an overview of my credit...
Positive
No Court Judgements
10 Clean Accounts
Negative
Aged 23
Not On Electoral Roll
2 Cases of Arreas
1 Arragement
Now the electoral roll has been fixed the agencies just need to update that. I cant really do anything about my age. Im just wondering how bad the other two will affect me. Both have been completely paid back in full.
Apprently my Credit Scores are below average... 719... the average being 750. Im just wondering if the arreas and arrangment will impact me alot when apply for a mortgage. Me and my partner are looking to buy a home for around £75000 with a £10000 deposit.
0
Comments
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We need to know more about the arrears and arrangement.
When were they, how much for, when were they paid up.
10% (ish) deposit you may struggle depending on the above.
If you can get it to 15% deposit (n extra £1k) then, again depending on the above you may be alright.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
What are the "arrears"?0
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When I was 18 I got a few things on finance. Nothing much just something around about £600. I wasn't even aware it went into arrears... I knew I had 2 late payments. Anyway... like I said it is settled and payed off in full now. Check my file says it was only in arrears for 1 month. That was payed off fully Sep 20110
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I'm confused on my credit report.... it only shows 1 case of arrears but it's on two credit reports.... I presume that's why it says two cases of arrears0
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