joint application - one poor credit score

dangalf

Am looking for a little advice - we have 40% equity to put towards our purchase and have been on a mortgage for 6+ years with no missed payments. However, one applicant has a poor credit score due to late payments (no defaults or ccjs). The other has a good credit score. Total joint income over £90k, total joint debts exc. current mortage of £10k. Plan is to get rid of all debts as part of move. Looking for mortgage of £315k. Are we more likely to get offer from current mortgage providers due to history with them? Should we get a broker? Is it a lost cause? Thanks for any help.

Thrugelmir

To improve your credit profile further. Why not repay the debts prior to moving? With your income a lender may well concerns over your personal financial management and apparent lack of savings.

ACG

With a 40% deposit this is definitely not a lost cause.

If its just late payments to contend with there will be without doubt a lender who will find this. Your existing lender will most likely have the same criteria for you as for everyone else... there is no real relationships with banks anymore (unless your HNW).

Speak to a broker but assuming everything else stacks up there will be a way.