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Buying a house, but got no nouse (or gd credit rating)...
Jonesy11
Posts: 1 Newbie
Silly thread title out of the way, I shall begin...
My partner and I plan to buy a house. Between us we have £24k and hope to use this as a 10% deposit.
Her credit rating is wonderful, mine is not (I could only manage to get one of those 35% interest credit cards recently in the desperate attempt to improve it).
I'm well behaved and pay regular DD's on time. However about 18 months ago an account I had stopped using got me in a huge mess. Charges + fees amounted to £600. They were obviously informing me about this by post but I had moved etc - usual story. As soon as I found out I payed them the lot and closed it.
Will my poor credit rating stop us from getting a good mortgage? If she applied alone would she be better off? Sob, sob.
She earns £32k , I earn £24k
Help! Please, obviously. Thank you.:beer:
My partner and I plan to buy a house. Between us we have £24k and hope to use this as a 10% deposit.
Her credit rating is wonderful, mine is not (I could only manage to get one of those 35% interest credit cards recently in the desperate attempt to improve it).
I'm well behaved and pay regular DD's on time. However about 18 months ago an account I had stopped using got me in a huge mess. Charges + fees amounted to £600. They were obviously informing me about this by post but I had moved etc - usual story. As soon as I found out I payed them the lot and closed it.
Will my poor credit rating stop us from getting a good mortgage? If she applied alone would she be better off? Sob, sob.
She earns £32k , I earn £24k
Help! Please, obviously. Thank you.:beer:
0
Comments
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Your credit history is certainly not helpful, but may not exclude you from a mortgage.Your partner could proceed in her name, but the amount of borrowing would be considerably less. Obtain your Experian/Equifax report and take it to a mortgage broker to discuss options.0
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