Late Payments - Any hope of getting a mortgage ?

sophieev

Hi all

I would really appreciate some thoughts, especially from any of the brokers on the site.

I have an offer accepted on a property and am looking for a 75% LTV mortgage. I have no financial difficulties, I earn well and am never overdrawn (and I pay my credit card off in full each month).

I have previously checked my credit rating with Experian. I forget the score but it was strong. I have tried to renew my subscription but am not able to access the site now as my hard copy PIN no. keeps getting lost in the post. I have just checked again on Noddle today and that gives me 5/5 as a score.

However, Noddle also shows that i have 9 (yes, 9) late payments on my record (all on my mobile phone bill) - 4 in 2009, 3 in 2010, 2 in 2011, 0 in 2012 and 0 in 2013. All of these were less than a month overdue (they would only have actually been a day or so over).

I have no other blemishes on my record.

Back then I was not even really thinking of mortgages and to be honest it is only now, having done some research, that I realise how much of an issue this might be.

Is there any real hope of getting a mortgage with these late payments on my record ?

Any thoughts or suggestions would be gratefully received.

Dave_Ham

Lender selection will be crucial, you should be ok though based upo the information provided...

sophieev

Thanks Dave

I think we were a little naive about all this. We earn quite well, don't have any debts etc. and checked our credit ratings which showed pretty high scores previously. I don't think we realised how much of an impact this might have until we started looking into in depth on the web and I now just feel sick with worry. We are in actual fact very good credits. All for the sake of a direct debit.......

Anyway, we will just need to do what we can now I suppose.

I hear what you say re lender selection.

Our broker - who we are obviously going to need to hassle again now - found some rates for us.

The one we want is with Accord. Going by what I have read here it seems like they will no longer be an option for us. Other rates that looked ok-ish were with Woolwich and Santander.

Any thoughts on these lenders or other lenders generally that might be a better bet for us given the circumstances ?

Unfortunately we are under serious time pressure too. We have a broker but won't be able to contact him until tomorrow and I just want to do as much as I can between now and then to try to fix this mess and identify options.

Thanks for your reply - much appreciated