Chances of being accepted with 95% mortgage.

pabl0

Evening all,

I'll keep it quick,

I have 8 missed payments from 2007-2010 on a credit card but all settled and plenty of other credit before and since to show I have changed my ways. Its been 40 months since the last late.

My partner has two missed payments from EE(orange) in 2012 that should be removed ASAP as they are not her fault. Otherwise clear.

I have £1400 on a credit card that can be paid whenever (0%) and she has a loan for her car of £3300 (£100 a month)

I make £26,500 (~£28,000 guaranteed) and she makes £20,000.

We have a meeting with Natwest for the 95% help to buy and have been checked (soft) by lloyds with no problems for affordability.

What are the realistic chances..?

Many thanks,

mrginge

Absolutely none at a guess

pabl0

Okay, very informative answer.

Would be 10% be more realistic for our situation? and what lenders tend to be more realistic with their checks (avoid HSBC and Nationwide?)

Thrugelmir

What do you mean by more realistic with their checks?

Nationwide are the largest lender by far in the 95% LTV mortgage market.

Your joint income doesn't meet HSBC's minimum requirements for a mortgage.

pabl0

I've read that HSBC and Nationwide are very strict when it comes to lending and you'd need a immaculate credit history to be considered for them to lend to you. Just tried the HSBC mortgage checker and it displayed 144,000 @ 90LTV. If £48000 joint income doesn't get you a mortgage with them I've answered my own question, to strict.

By to strict i mean non-top scoring although neither of us 'score' badly.

Alex_88

My fianc! and I went to see a Natwest mortgage advisor on saturday, We both have a few late payments from over 2 years ago but since then have been really good and used our credit cards but paid off in full each month. We told her this and showed her our credit reports, she seemed to think we'll be ok and likely to get accepted for the help to buy scheme as we meet affordability, dont have any outstanding debt, and have had a clear report for over 2 years.

Although I guess you don't really know until you do a full application. Just keeping everything crossed!