How to prepare for first mortgage interview

wifeforlife

Our last home was bought solely in my husbands name as I had 2 defaults on my credit file, and we were not then married (2009), we sold it earlier in the year and are staying with family until we find a suitable home.

We have a current AIP again in his sole name for £141k, however the property we want to buy is £200k, we require £180k of a mortgage, with £22.5k in savings as a deposit saved from last June.

My husband checked with the lender and they will not lend to him solely on his own that amount so we are booked for a joint application tomorrow. My credit rating is ok now, infact both experian & equifax state excellent however I've been reading the new rules and I'm nervous we're heading for a straight no based on my bank statements and current debt.

As we originally planned only in Dh's name, he has no credit card debts and all savings he is doing.

I'm paying for everything else, childcare and shopping and also things for the kids, days out, takeaways etc. I also have two 0% credit cards with £2000 on each.

So one of us is squeaky clean and I look solvent but under pressure.

If I'd have known we had to make a joint application I would have been soooo careful this past few months, but now feel helpless.

This is the house he loves and I'm so afraid he's going to miss out due to me, even though he's sprung this joint application on me today

I must say we passed the affordability check with flying colours, anyone any words of wisdom to settle me before I head into this, I'm so stressed already and my DH doesn't talk about it with me.

ACG

If you get declined its a joint decline. Just because the debt is in your name your still a family unit.

The defaults should not be a deal breaker, they must be atleast 5 years old? Thats quite old for defaults.

£4k could be a lot of debt but without knowing your income and your partners its difficult to say.

Assuming affordability is not an issue I would expect there to be a lender for it.

wifeforlife

Thanks for reading ACG, there's no defaults now, they're all off my file, just the credit card debt of £4, my income is normally £21,860 however this year is £19560 due to term time, my DH is £40k

I appreciate the response, im finding it hard to settle my nerves

ACG

Affordability should be fine then in the main.