advice on mortgage app with past credit problem

Thrugelmir

sammy70 wrote: »

thats the problem, i guess we will just have to wait a while, i reckon a year at least, let them see all payments on time etc..

Don't give up hope. You will get there.

sammy70

just thought we would track progress on our road to getting our forever home.

6 months on, we have got married, all saved and paid cash for!

We have decided to completely clear this mortgage of £40,300 over the next 36 months and use the full £100k profit from sale of this house to use towards getting next house..

Savings are well underway!

My now hubby did get c/c to improve c.score, last 6 months this has been used and paid on time..

We are on track to getting the house we want, will report in 6 months our progress..

X sammy x

sammy70

I cant believe its six months already!

Heres our progress so far=

£8652 saved to completely clear our mortgage in 29 months from now 1st August 2016 is the target date, if not before!

We have gone onto a 2 year fixed rate of 2.24 to save a bit of interest while we continue to save as much as possible.

We save each month £736 towards mortgage clearing, £125 towards new kitchen /diy needed to this house to enable us to sell at the best price possible, £250 each month saved into a "emergency fund" to cover anything that life throws at us, and £183 each towards our individual future hobbies.

when we get our new home, hubby wants a capri to tinker with, and i want another horse. As neither of us are into holidays/smoking/ expensive nights out, we feel spending on our hobby is ok, everyone needs a treat that makes them happy (as long as its saved/ and budgeted for!)

We are happier than ever, the nightmare of the court case to force the sale of hubbies former marital home and the rest of the nightmare caused by his ex and her idiot of a new husband seem like a distant memory! what a difference a year makes!! i cant believe it sometimes..

I will update in another 6 months to keep track of our progress..

X Sammy XX :j

sammy70

Hi peeps, where is the time going!

Just another quick update. It is 22 months until our fixed rate mortgage ends, and we clear it in full, then start hopefully looking for our forever home.

Progress report

We now have £14,000 in mortgage clearance savings. Hubby continues to use and pay off in full every month his capital one card, hopefully this will go in his favour towards improving his credit rating. He has no other debt, he has an ISA which he adds a couple of £100 to each month. It remains to be seen if we will find a broker able to get us the mortgage we need..:)

We can only try our best to carry on saving, and pay everything on time and in full, fingers crossed!

Sammy x:):)

plumfin

Just read your posts -good luck, hope it all works out well for you both.

Plum x

Diamonds2010

Just been reading your posts. Excellent work and work hard for it, defiantly going in the right direction.
Regards to the mortgage, and this is what I did (wont suit everyone) I got my broker to look at my credit file and point me in the right direction of what I needed to do to it to get the best mortgage I could, after all they know best as they are dealing with the lenders everyday.

Good luck guys with the future. Looks like it is going to be very rosey

sammy70

Thanks Plumfin and Diamonds2010! its great to have your support on our journey towards our new home!:)

sammy70

I can't believe how fast the time is going! another 6 months progress report-

Hubby continues to pay his capital one c.card in full each month.:)

We have £30,000 in savings, aiming for £40,000 by xmas 2015

Our fixed rate mortgage ends July 31st 2016, when we will then clear the mortgage on this house completely using our savings, leaving us with £100,000 deposit for our new home after we sell it. We are hoping to lend £150,000/£175,000. Hubbys c.score will show by August 2016 3.5 years since the missed mortgage payments on the house he had with his ex were settled in full after he forced the sale through the courts due to her not keeping to an agreement to keep it up to date and remortgage with her new husband. He has no missed payments etc in that time also.

We hope to seek out a broker to advise us if we have a hope of acieving our goals spring 2016, fingers crossed! we have worked so hard to get this far, we are both good with money, it would be so unfair if due to his ex wifes crap couldnt give a stuff about paying bills attitude, it !!!!!!ed my husbands chances of buying a home together with me

But we are keeping positive, we will achieve our dream!!:):):)

sammy70

Well its all change , we couldnt resist using our savings to completely clear our mortgage this month :j

So we now own outright our home, value approx £95-£100,000. This will be put on the market June 2016, and the proceeds used as deposit on our new forever home.:)

So we are now rebuilding our savings, and planning to move still in August 2016.

Our goals are savings-

Car for hubby- £8000- this is a hobby

Horse for me- £6000

DIY inc kitchen for this house- £5000

emergency/cash for new house- £21,000

Our target for this is £40,000 in premium bonds by end of August 2016 :eek:

I dont believe in easy targets!

Liliyanna

Well judging by your saving skills so far you'll have your forever home in no time :j

What will make it even sweeter is the awful ex and her new hubby will probably also continue their financial ways and never be debt free let alone mortgage free!

We all reap what we sow :0)

Good luck for the future

Lily

x x