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First Time Buyer - Can we get a mortgage??
Dunphy26
Posts: 2 Newbie
Hi, me and my partner are looking to purchase our first house. The house is £190000 and we have £10000 for a deposit. We have been to see a Mortgage Adviser and they have said that on our wages we can borrow that much. We have no debt.
What are the chances of us being accepted for a mortgage if my Experian credit rating is fair (800) and my partners is good (880)? When I was on holiday 4 months ago I forgot to make a small payment on my Argos card which has put a recent late payment on my credit file, which I paid as soon as I got home. But the rest of my credit report says 'Satisfactory' against all accounts including the missed payment one, so this is the only negative factor on my report. My partner has no negative factors.
Also if we don't get accepted for a mortgage with someone, will this stop us from getting one with anyone else?
Thanks
Luke
What are the chances of us being accepted for a mortgage if my Experian credit rating is fair (800) and my partners is good (880)? When I was on holiday 4 months ago I forgot to make a small payment on my Argos card which has put a recent late payment on my credit file, which I paid as soon as I got home. But the rest of my credit report says 'Satisfactory' against all accounts including the missed payment one, so this is the only negative factor on my report. My partner has no negative factors.
Also if we don't get accepted for a mortgage with someone, will this stop us from getting one with anyone else?
Thanks
Luke
0
Comments
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How much do you earn?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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The random CRA score will not decide whether or not you will be accepted. No lender see's that score, only you and the CRA who create it do.
Indeed your credit report will be inspected to access how you have managed your finances over the last few years, but affordability and salary information will also play a big part.0 -
We earn 21k and 34k0
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