A plea for advice

donvigeo

I intend to start applying for mortgage in next 4 months and as part of the planning process requested to check my credit report via equifax to my amazement my score was 368 ( just fair) . I also had a recent late payment showing last month on my Lloyds CC, and 2 other late payments one in march 2012 and the other November 2011
This cards are all up to date.
Can I ever get a mortgage with this circumstances, am on 43k and partner is on 47k annually and we are looking 15% mortgage

Partner just moved to Uk in November so no credit rating has been built in real sense.

Please I really need any advice

duggan1

I'm in a similar situation, worse actually and I had a brief chat with a local mortgage advisor towards the end of last week just to sound him out about how I move forward.

I assume you mean you will have a 15% deposit? That should help you. Advice I was given suggested that as long as your debt problems weren't chronic (missed payments every week, 3/4+ defaults) then you stand a chance if you can put up 15% or more. The higher you go then the more lenders you start to interest.

Recommend you go to a broker (shop around and read the advice on the sticky posts above) though, they'll have experience of dealing with your situation.

Dave_Ham

Hi, as suggested a broker will be a sensible way forward.

Your partners credit score and/or visa are likely to be an issue also..

Your missed payments will through out a few lenders, but in isolation you will have opportunities.

Good luck

donvigeo

Hello Dave and others

Thank you so much for your inputs

Myself and my partner are both HSMP visa the only was that she just moved to Uk.
Looking at the current situation of the market from experience do I fall under sub prime ? knowing the figures for the rates are not definitive but would I be able to get something less than 5.2%??

Thanks all

Dave_Ham

Not necessarily sub prime, although definitely a broker required with a word of caution on credit scoring for your partner given limited UK address history.

You really will require a broker and the details of the case will be important..

All the best