DECENT CREDIT Struggling for Mortgage _ Debt Management

CcharlesworthJuicePlus

Hi Guys,

I wonder if somebody could help me.

4 years ago i was 18k in debt and went to debt management to clear it, Managed to clear it in just in under 2 years. Which was 4 years ago.

I check my credit every few weeks as i have been working on building my credit, Not missed a payment for direct debits or go overdrawn (not got a OD )

Recently got a credit card, Went with capital one use it to buy petrol maybe few grocerys and pay it all off at end of the month.

SO my issue

Me and the Mrs (GF) are looking at getting a mortgage and started looking into banks, We went with my bank TSB which i only use for ISA and pay in small amounts as my main account was Think money on behalf of RBS.

Basically the initial soft credit score declined us. Even though my bank said they can offer me £3000 overdraft, cheque book, credit cards etc

We are looking at getting a 90% mortgage looking around the £100k mark as we have 10% deposit over 20 years.

They reckon its due to my past credit experience as it stays on file for 6 years not.

My mrs only earns 10k a year i earn 30k + so could afford a decent mortgage on my own.

Yesterday we tried with her bank RBS and still failed the soft credit score.

Does anybody have any advice want i can do.

I am going to get a better credit card like with my bank, And i have closed my think money count also.

Advise on this matter would help us so so much

Thrugelmir

Keep saving and building up the deposit.

Speak to a broker and let them do the leg work. As scatter gun approach won't work to find a lender who'll consider you.

billybear1

CcharlesworthJuicePlus wrote: »

Hi Guys,

I wonder if somebody could help me.

4 years ago i was 18k in debt and went to debt management to clear it, Managed to clear it in just in under 2 years. Which was 4 years ago.

Yesterday we tried with her bank RBS and still failed the soft credit score.

Does anybody have any advice want i can do.

You say 18K debt, I assume that there were some defaults when entering the DMP as you negated on the agreed repayment periods?

My thoughts are as Thugglmr above, get your report to an advisor, RBS are high street and any default may move you away from high street.

CcharlesworthJuicePlus

So will a broken more than likely find me a mortgagee, Just worried about being bent over a barrel with extra costs.

I was in a 5 year term with them at a very low cost ended up building my repayments and paying about £750 a month off at the end.

Any other advise on building my credit or do you think keep going as i am

billybear1

I am not sure, but an initial meeting will be free, take a copy of your (all three is preferable) credit reports with you - ask anyone who has used a broker that you know for a recommendation if a good start to finding one. Alternatively, head over to the Mortgages and Endowments section of the forum, there are some top posters over there including ACG, GMS and Kingstreet who can offer some much more in depth advice.

Thrugelmir

CcharlesworthJuicePlus wrote: »

So will a broken more than likely find me a mortgagee, Just worried about being bent over a barrel with extra costs.

At least you'll know your options.