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FTB Mortgage worries/queries!!
pearcy99
Posts: 1 Newbie
Hi, thanks for looking at my thread and hopefully someone can provide myself and my wife with some peace of mind!
Here is our current situation, we are fist time buyers with a deposit of 24k and are looking at mortgages at 90% LTV. We saw our mortgage adviser at Natwest yesterday with a view to taking out a mortgage in my own name, due to my good credit score and my wife's poor score. We couldn't quite borrow enough on my own income (45k). So the adviser suggested checking our eligibility using their own internal scoring system, and we both scored a '2' which is supposed to be very low risk! Basically my wife had her own bank account with lloyds that was left overdrawn and the charges kept tipping her over the overdraft, she wasnt informed so account was left over the overdraft limit for over 5-6 months. As soon as we found out the account was settled and closed immediately, however the damage was done and this has decimated her experian and equifax score.
Anyway, sorry to rumble on but my question is this, how likely are we to be accepted for a joint mortgage based purely on natwests internal score?? We're just left a little confused as the adviser didn't seem too worried about the experian credit scores?
Here is our current situation, we are fist time buyers with a deposit of 24k and are looking at mortgages at 90% LTV. We saw our mortgage adviser at Natwest yesterday with a view to taking out a mortgage in my own name, due to my good credit score and my wife's poor score. We couldn't quite borrow enough on my own income (45k). So the adviser suggested checking our eligibility using their own internal scoring system, and we both scored a '2' which is supposed to be very low risk! Basically my wife had her own bank account with lloyds that was left overdrawn and the charges kept tipping her over the overdraft, she wasnt informed so account was left over the overdraft limit for over 5-6 months. As soon as we found out the account was settled and closed immediately, however the damage was done and this has decimated her experian and equifax score.
Anyway, sorry to rumble on but my question is this, how likely are we to be accepted for a joint mortgage based purely on natwests internal score?? We're just left a little confused as the adviser didn't seem too worried about the experian credit scores?
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