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Mortgage advice-1st time buyer
Nesta1
Posts: 1 Newbie
Hi I'm looking for advice on my chances of success in obtaining a mortgage next year.
I have been discharged from trust deed for nearly 3 years and it should come off my credit file on nov this year, the defaulted accounts that were part of the deed should come off approx 6 mths later.
I now currently have a capital one credit card which I have had for 2 yrs with no late payments, car finance of a year again with no late payments.
I am just looking for advice if my chances of getting a mortgage next year are reasonably high or not. I will also have saved a deposit of around 10% of the price of mortgage I'd be looking at.
I have been discharged from trust deed for nearly 3 years and it should come off my credit file on nov this year, the defaulted accounts that were part of the deed should come off approx 6 mths later.
I now currently have a capital one credit card which I have had for 2 yrs with no late payments, car finance of a year again with no late payments.
I am just looking for advice if my chances of getting a mortgage next year are reasonably high or not. I will also have saved a deposit of around 10% of the price of mortgage I'd be looking at.
0
Comments
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Next year seems far too early I'm afraid Nesta. The 10% deposit is too modest.
It sounds like you will be into 2015 before you will have the more sizeable deposit you are likely to need (25%+).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
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