Do you think we will get the mortgage?!

Abu-Dina

Hi,

The offer on the house we want has been accepted and we already have anagreement in principle for a mortgage (15% deposit) with the Bank of Scotland.

We did a joint application (I earn £33k and my wife earns £10k). Her creditreport is excellent and mine is average however I do have one Default from 3years ago for £165 which was settled more than 2 years ago.

We have been saving like mad and now have £28k saved up in a separate bankaccount.

However, I think I may have screwed up our chance of actually getting amortgage because I've been taking out small payday loans thinking that it wouldimprove my credit score! When I check my credit file with Experian, the onlypositive thing at the moment is the number of settled accounts but I've beenreading online that when lenders see these in your credit report theyautomatically reject your application?!

Now I'm really worried because we have the deposit and the money for thefees saved up and we can backup everything we said in the application withpayslips and bank statements but will Bank of Scotland turn us down because ofmy stupid mistakes?!

Any ideas?

Gary123456790

Pay day loans are a really bad idea, you need to talk to a broker ASAP.

You could re-post in the mortgage forum
http://forums.moneysavingexpert.com/forumdisplay.php?f=15

Gary.