First time buyer with late payments - advice please :)

josiebabie

Afternoon all

My OH and I are looking to buy a house but I'm worried about how my previous credit history will affect this hope!

My stats:
- OH earns £27k
- I earn £31K
- I have a child from a previous relationship so recieve CB, no maintenence through court order, only through mutual agreement
- We have a £40k deposit
- The house we want to buy is £240k
- We have had an offer in principle from NatWest for £290k
- I have hugely reduced my debt (see signature) and most of this will be cleared by the time we are looking to move.

OH's noddle credit score is 4/5, BUT my noddle credit score is 2/5 and is still showing some accounts and balances I have paid off the last few months. I have late payments markers on 3 accounts in 2008 from when I was on maternity leave and my ex wasn't paying the bills :mad:.

What is the likelihood of NatWest offering us the amount we need?

Thanks in advance for any advice offered.

leereni

I'm no mortgage advisor but I know advisors will tell you to forget about these credit scores CRAs give.

get hold of your three credit reports from experian, equifax and call credit and find out exactly what information they hold about you.

josiebabie

I hope this is the case! I have looked at my three records and the late payments from 2008 are the only negative things on there.

Hopefully the next time the records update it'll show my situation more accurately, only thing is we need to speed up our application as his mum (we're buying the house from her) has found a house she wants to buy :eek:

ACG

Do they show as 1, 2, 3 or a higher number on your credit reports?

If its 1 or 2s from 2008 then i wouldnt worry too much. Ive never used natwest before so cant comment but i dont think you will struggle to get a mortgage - if that makes you feel any better?

josiebabie

Thank you ACG this does make me feel better!

Mostly 1s and a couple of 2s, I've just noticed Vodafone gave me a 1 in 2011 when their automated payment service said it took my money but didn't!!! Harrumph!

I should probably stop worrying and just apply, won't know for sure until we do

ACG

You have a 15% deposit, not far of 20%.
I would probably give it a try. If it doesnt go through then i would go and speak to a mortgage advisor.

Vodafone

josiebabie wrote: »

Thank you ACG this does make me feel better!

Mostly 1s and a couple of 2s, I've just noticed Vodafone gave me a 1 in 2011 when their automated payment service said it took my money but didn't!!! Harrumph!

I should probably stop worrying and just apply, won't know for sure until we do

Hi josiebabie,

Thanks for making me aware of this.

If you'd like me to get things looked into further could you email me with your details via the link in our profile here?

All you need to do is copy and paste the link into your web browser and it will take you to the Contact us form on our website.

To ensure that it reaches me could you also quote the code WRT135 - MSE in the subject line and once our automated reply arrives update the thread with your email reference number and I'll get back to you as soon as possible?

Kind regards,

Lee

Web Relations Team

Vodafone UK

josiebabie

Thanks Lee, my reference number is 11236433.

Thrugelmir

Does your OH have any debts?

josiebabie

No, none at all.

Thrugelmir

Where's the deposit coming from? If you've £10k of debt. Is some being gifted?