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Help- advice please
dfw1980
Posts: 65 Forumite
Ok - so 2 years ago ihadmy light bulb moment as its called over in the debt free wannabe board. Im now totally debt free for the first time in about 6 years, with my highest amount owed nearly 50k of unsecured debt.
At present, i have 5 defults showing.the newest being in feb2011.
My partner and I have been together for 5 years and now im debt free, were looking to buy our first place in early 2014.. And want to be out of our rented flat by May 2014 at the latest.
her credit rating is spotless.. And has around 25k in savings.
Now im out of debt, every spare penny we both jave is now going into saving for a deposit. By January we should have, between us around 35-40k.
We both earn around 35k a year 70k combined.
What are our options as far as a mortgage goes?
Will applying together negativly affect her credit rating?
What are the chances of getting accepted jointly?
Should we try highstreet lenders? Or go via a broker?
Weare both new to this so dont know where we would stand..
Any advice?
Thanks in anticipation...
At present, i have 5 defults showing.the newest being in feb2011.
My partner and I have been together for 5 years and now im debt free, were looking to buy our first place in early 2014.. And want to be out of our rented flat by May 2014 at the latest.
her credit rating is spotless.. And has around 25k in savings.
Now im out of debt, every spare penny we both jave is now going into saving for a deposit. By January we should have, between us around 35-40k.
We both earn around 35k a year 70k combined.
What are our options as far as a mortgage goes?
Will applying together negativly affect her credit rating?
What are the chances of getting accepted jointly?
Should we try highstreet lenders? Or go via a broker?
Weare both new to this so dont know where we would stand..
Any advice?
Thanks in anticipation...
0
Comments
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Due to their being defaults i would go to a broker.
There will be options with a 15% deposit (possibly even the high street). But i wouldnt risk doing credit searches blindly as that can cause more harm than good.I am a Mortgage AdviserYou 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.0 -
Thanks for the response.. Were looking at possibly a 20% deposit by next year.
And yea i totally inderstand about blind credit searches.
Is a joint application likely to affect my partners credit rating do you know?0
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