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Bad Credit Joint Mortgage

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Im hoping you guys will be able to advise me on the following.

I had a really bad time with money about a year a go, racking up unsecured debt i really struggled to pay back. Im now with StepChange paying it all back but obviously my Credit profile is shocking.
My partner on the other hand is brilliant with money. She has a near perfect Credit profile and is the one who is getting me sorted.

We both have mortgages at the moment, but would like to sell our own individual places and buy a place together. The only thing I am worried about is the state of my credit.

To add a bit more background, I earn c.£37000 per annum, whereas she earns c.£1200 so I will be paying the majority of the Mortgage.

Will my poor credit stop us getting a joint mortgage, or will we be able to use our joint income/credit score to secure one?

Comments

  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    What purchase price? How much do you need to borrow? How much debt do you have and would this be paid with the proceeds of the property sale?

    Any defaults or CCJ's? If so how much and when?
    I am a Mortgage Adviser
    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.
  • Purchase price between £115k and £125k. Both mortgages are shared equity which will need paying back to builders on completion of sale. I imagine this will result in little/no deposit gained from either property.

    I have £11,000 debt, no CCJs and one default two years ago.

    Correction to my first post, partner is on £12000 a year but is also a Full Time Student.
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