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First Time Buyer Mortgage / Credit File
Gravity_2
Posts: 17 Forumite
Hi,
This is my first post so apologies if it's in the wrong folder.
My fiance & I will be applying for our first mortgage this summer and I have a few queries relating to my chances as my credit history has not been great.
I have 3 satisfied defaults which are due to come off my file in June (from June 2007) and 2 late payment accounts which are settled/satisfied in Sept 2010 - so this Sept will be 3 years.
Other than that I have no other credit discrepancies on my file or indeed have credit elsewhere, other than a £100 overdraft limit which I rarely use.
We are looking for an 75%-80% LTV.
Do I have a reasonable chance at getting a mortgage?
Any advice is appreciated.
This is my first post so apologies if it's in the wrong folder.
My fiance & I will be applying for our first mortgage this summer and I have a few queries relating to my chances as my credit history has not been great.
I have 3 satisfied defaults which are due to come off my file in June (from June 2007) and 2 late payment accounts which are settled/satisfied in Sept 2010 - so this Sept will be 3 years.
Other than that I have no other credit discrepancies on my file or indeed have credit elsewhere, other than a £100 overdraft limit which I rarely use.
We are looking for an 75%-80% LTV.
Do I have a reasonable chance at getting a mortgage?
Any advice is appreciated.
0
Comments
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I'd say yes. I received my formal offer today, exchange in couple of weeks hurrah!
I had defaults, they dropped off early this year. I have 2 missed payments on my file both 12 months old. I have a 70% LTV no problem.
Just make sure you check all your credit files to make sure there isn't anything to surprise you!0 -
Yeah, should be fine based upon the information provided. Just check the defaults drop off when they should...I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
I will be checking all the files to ensure the defaults have removed. Thanks for the comments, fingers crossed now!0
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I agree, sounds promising - good luck!0
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