First Time Buyer, Husband with Bad Credit History

adg1980

I am a first time buyer looking to buy a house next year. I earn £40,000 a year and would be hoping to apply for a mortgage of around £160k to £170k with 5% deposit.

My credit history is pretty good, I have outstanding debt of around £10k, which I'm looking to lower to at least £8k prior to applying and all my oustanding debt is paid on time every month.

I married about 2 years ago and my husband has bad credit history and will have for the next couple of years. However, I'm worried that his bad history will have a negative effect on my application.

Can anyone advise on if this would be the case and how I would get around it?

Foxy-Stoat_3

Apply in just your name only....if you are married though you will probably have a financial association so may well effect the application. A higher deposit will help, or lowering the value of house your going for.

Whats the bad credit history, BR, IVA, defaults, CCJs?

adg1980

The association is what i'm worried about.

It's all defaults and quite large sums that haven't been settled.

Foxy-Stoat_3

I am not sure you can diss-associate yourself as you are married.

If they are un-settled defaults then the high street won't be the best place to look, maybe see a whole of market broker with your credit report shoved under their nose and see what they say. You might need more than 5% deposit though.