eating sleeping and drinking mortgages!!!

melj16

We are very keen to buy our ow property, and want to do it yesterday! I've been looking at mortgages and properties for some time online, but havent viewed any or spoke with any mortgage advisers as of yet.

Me and my husband have combined basic income of £46k. we are looking for a house in the region of £85k-£90k with a £15k deposit saved up.

There are a couple of things which i believe may jeopardise our chances of obtaining a mortgage:

My husband has a visa as my spouse but does not have indefinite leave to remain just yet (we will apply for that in december).
I know Natwest will treat a joint application, with at least one applicant with permanent residence, as if both have permanent residency. however I think Natwest's credit scoring may be a little strict for ours.

I have a late payment on my credit card in October 2012 and May 2012, and 1,2,3,4 on an Orange account from 2011. It did not go to default. I have no defaults, ccjs etc etc.

I have one credit card which I pay off every month in full, and car finance which is paid on time every month.

My husband has no blemishes on his credit file, however is not on electoral roll (due to not having permanent residency he does not have the right to vote just yet)

Will we need a specialist broker, or are we likely to be able to go to high street lenders.

Thanks in advance for the advice guys

Dave_Ham

Hi there,

I fancy there will be a solution, although remaining on the highstreet will help the Visa issue.

How long has husband been in the country and if employed for how long?

melj16

Thanks for the reply.

Hes been in UK since 2006 but was on Student Visa. We got married two years ago and have a four year old son together. He was a student until last year, he worked for a contract job offshore for four months last year, and started new job in December (So i know we will have to wait at least until June, when he will have been employed for 6 months.) Seems to be so many hurdles with regards to Visa status, and not sure whether high street lenders are an optio because of missed payments.

Thanks

Dave_Ham

Indefinite Leave To Remain solves most of the issues.

I think a decent broker could probably keep this on the highstreet and keep the mortgage joint.

That said, there is not enough information here to be confident of that solution.

Good luck

egoode

You are best to find a mortgage broker that's dealt with visa issues before. However you may struggle as you would usually need a 20-25% deposit when you don't have ILR (that's what I was told when I had the same issue). As he will be applying for ILR in December you are probably best waiting until then and just keep trying to save as much as possible for your deposit in the meantime. It will also mean you have a wider choice of lenders once he has ILR.

cpwaterstone

You must consult to a good lender. Best of luck

Let_Us_See

cpwaterstone wrote: »

You must consult to a good lender. Best of luck

More like a good broker!

However, waiting for ILR would solve one major problem.

melj16

Thanks for the info guys.

as mentioned earlier, I know Natwest disregard the fact one applicatant does not have ILR as long as the other applicant does......I'm just unsure how strict they're credit scoring process is.

I have had some good news this evening though and a step in the right direction.....I had a later payment marker from October 2012 from my credit card, after a letter to barclaycard explaining the impact it will have on my ability to get a mortgage, to my amazement they have removed the late marker. :T

So come May....I will have 12 months of perfect paying, according yo my C file. (have never had any defaults or CCJs etc.)

I am worried how much of a problem the 1234 late payment markers from Orange summer 2011 will prove to be though, any advice on that ?

Thanks again

melj16

Thanks for the info guys.

as mentioned earlier, I know Natwest disregard the fact one applicatant does not have ILR as long as the other applicant does......I'm just unsure how strict they're credit scoring process is.

I have had some good news this evening though and a step in the right direction.....I had a later payment marker from October 2012 from my credit card, after a letter to barclaycard explaining the impact it will have on my ability to get a mortgage, to my amazement they have removed the late marker. :T

So come May....I will have 12 months of perfect paying, according yo my C file. (have never had any defaults or CCJs etc.)

I am worried how much of a problem the 1234 late payment markers from Orange summer 2011 will prove to be though, any advice on that ?

Thanks again