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Average/Poor Credit Rating
piff1988
Posts: 5 Forumite
Hi Everyone,
I would like a little advise if possible.
My fiancee and I are looking at houses at the monent but I have credit issues and was wondering about my possibilities of getting a mortgage. We are looking at part share houses £35000 for 25%, we have £7000 deposit. The issue will be my credit rating.
I have no CCJs but I have 3 late payments in the last year.
I also have a default on a mobile contract 2 years ago which has been paid of for 20 months.
I have quite a lot of debt to pay £1000 on a credit card and £1200 catalogue debt so am probably considered a risk because of this.
My fiancee has no bad credit history within the last 3 years and has a catalogue debt of about £200.
Does anyone have any advise on whether it is worth applying for a mortgage or guidance on how to do it?
Any idea is great. Thanks in advance!
Chris
I would like a little advise if possible.
My fiancee and I are looking at houses at the monent but I have credit issues and was wondering about my possibilities of getting a mortgage. We are looking at part share houses £35000 for 25%, we have £7000 deposit. The issue will be my credit rating.
I have no CCJs but I have 3 late payments in the last year.
I also have a default on a mobile contract 2 years ago which has been paid of for 20 months.
I have quite a lot of debt to pay £1000 on a credit card and £1200 catalogue debt so am probably considered a risk because of this.
My fiancee has no bad credit history within the last 3 years and has a catalogue debt of about £200.
Does anyone have any advise on whether it is worth applying for a mortgage or guidance on how to do it?
Any idea is great. Thanks in advance!
Chris
0
Comments
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Buy in your partner's name alone?
Would he pass the lender and HA affordability checks?
Who is providing the deposit?I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
The deposit would be provided from a joint savings account. Would we still both be able to own the house jointly?0
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No. Sole mortgage = sole purchase.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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