Help, mortgage wanted,,credit score 691

peanutandgrace

Im 30, married and have 2 children.
When i was younger i was at university with two children and struggled. My credit history reflected this. Now, im a staff nurse and earn 27,000 per year. i can afford a mortgage but have no idea where to go now.

i have 2 credit cards that i use 10 % of to try to push my credit score up but its stalled. IM DESPERATE TO GET AHEAD, As stated my credit score is 691.


I have 6 accounts on my credit history all satisfactory apart from one that states settled. The default was from 2010. Ive paid in full. I've spent years correcting my credit and now i need to get on. I can afford and manages a mortgage.. i just can get one/


My husband has terrible credit, but i'm not financially associated to him. Im wondering if its actually possible to get a mortgage with my current status. I was looking to pay for a mortgage broker but not sure if im wasting my time. I want a family home for my children and sooooo frustrated that im stuck. Any guidance would be much appreciated.

Thrugelmir

Can you afford a mortgage without your husbands financial contribution. Simply not having a registered financial association does not solve the issue. From a lenders perspective it actually creates questions.

Why is your husbands credit file terrible?

Where is the deposit coming from?

How much do you owe in unsecured credit?

ACG

When you say your husbands credit is terrible what do you mean?
Late/Missed payments? Defaults/CCJs? Bankruptcy?
If so when?

Based on what you have said alone i would expect there to be a lender or 2 at 15% deposit.

peanutandgrace

Hi,

Thanks for a reply.

Yes i can afford a mortgage without him. I have looked at the area i want and the type of house i want and its possible. I have a secure job, and want to create a future and home for my children

My husband has a CCJ and never fixed any of his debt, unlike me. his credit score is aprox 200. I would apply for a mortgage alone.

I have a 10% deposit already

The only debt i have is the remainder of a loan- £2200.

Natalie

Annisele

peanutandgrace wrote: »

I have a 10% deposit already

From where? If it's your husband's money / saved jointly with him, then that makes taking out a mortgage in your sole name much more difficult.

ACG

I think its hit and miss at 10%.
You need to get all 3 reports down to a broker i think.

The other issue you may have is a lender asking why your husband is not going on the mortgage.

Thrugelmir

Presumably your husband will be living in the house? If so, this will need to be declared during the application process. I suspect that when his credit profile is exposed it will cause issues.

peanutandgrace

Hi, No the deposit is made up from savings over the last two years and also a money gift from my mum.

Although my husband earns a good wage, with his history id never have a chance. Reading the resources this website has , i decided to go it alone. He would of course live with me but id apply and manage it alone. My sister has done this, Her husband was actually bankrupt.

Natalie

ACG

Ignore this site, it could be wrong/outdated. Speak to a broker, the market is forever changing.

I and im sure others can give examples of people with bad credit (Large defaults, bankruptcies, multiples defaults/CCjs) all being able to get mortgages.

themull1

ACG wrote: »

Ignore this site, it could be wrong/outdated. Speak to a broker, the market is forever changing.

I and im sure others can give examples of people with bad credit (Large defaults, bankruptcies, multiples defaults/CCjs) all being able to get mortgages.

My husband had bankruptcy over six years ago, payday loan not paid - paid about 18 months ago, and credit card debt of £400 that he's fighting because its incorrect charges on it, and he couldnt get a mortgage anywhere.

ACG

Ex bankrupt, payday loan usage, (possibly) charges on a credit card - i can understand why you may have struggled.

It does not mean it cant be placed, it may jsut mean you did not try the right lender. A lot of the lenders i use for adverse mortgage are not on the high street and/or the average person would never have heard of.