Mortgage rates - near prime

donvigeo

A quick assistance with information from the people on the forum. What rates of mortgage range should a FTB on Tier 1 visa should have in mind with few glitches on the credit file i.e. 3 late payments of less than £20 within last 2yrs but all cleared immediately, last of the 3 payments registered in Feb 2013 no default on credit file just late payments

I know this is subject to proper examination of credit file but worst case and best case rate available at the moment for people in my circumstances would be highly appreciated . I am hoping to save up to 15% deposit

Many thanks for any information and guidance

kingstreet

How long living and working in UK?

How long left on visa?

What were the late payments on and who were the creditors?

donvigeo

@ Kingstreet many thanks for replying, to answer your query

Living in UK now for 6yrs ( both combination of studying and working yrs)

Visa valid for next 2yrs 1month before ILR

Late payments were for CCs used for normal purchases - Barclaycard and Lloyds TSB just normal monthly min payments. Lloyds card is cancelled now and all payments cleared, Still have 100 pounds limit on barclaycard.
In a nutshell, am applying with my partner and we both have combined income of 88k pounds, the only issue is that partner has not been in UK for more than 6months and she's dependent on my visa ( she's got utility bills in her name anyways)

kingstreet

You need two and a half years left, or to have been living and working in UK for three years, or more, for a start.

I'd talk to a broker about this. You'll get the most options that way. It'll be hit and miss trying to do this yourself.

The late payments are an added complication. Do you know if they show on all your credit files, or just one, or two?

donvigeo

Yea they all appear on the 3 credit files equifax, call credit & experian.


I have been working in the UK for since 2010 Feb i.e after my studies but just recently changed job 1.3yrs ago, partner just here in 6months anyway

Do I have any hope with 15% deposit or I'll have to wait for another 2yrs till am able to get my ILR

Many thanks

kingstreet

TBH I don't know. It isn't one of the areas I work in. You appear to be able to satisfy residence criteria, so it comes down to the lenders on the "yes" list to a Tier 1 visa holder being on the same list as "accept late payments on 85% LTV."

This is only going to be resolved by a broker who can see your full picture. This was the advice given to you in March. Have you actually done that, yet?

ACG

Kingstreet is right.

You need to speak to a broker, there are potential options, as for rates it depends how good or bad the overall picture is - it could be anywhere from around 4.5% - 6.5% with fees ranging from £1k to around £7-8k.

Its impossible for us to give a more specific answer.

donvigeo

Thanks so much guys, I"ll try and find a good broker in my area to speak to and see what options are open to me.
Cheers