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Advice on probability of getting a mortgage?

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I am thinking about buying a house in a few months but want to do some research into feasibility before I get my hopes up!

I'm looking at a budget of around £85,000 - £100,000 with a minimum deposit of 5% but possibility of upping deposit to 10% depending on house value (due to help from parents).

I am full time employed in a permanent position, salary of 25,000 a year, no bonus.

I have an unsecured loan of £6,600 and an arranged overdraft of £2000. I am currently dipping into my overdraft by about £900 by the end of the month due to moving costs, but will get my deposit from the DPs this week, taking me back into the black.

I have had a few unwarranted overdraft fees recently on a different account which I due to pay bills and to buy food - a case of standing order from main account not being well timed which is now sorted and unwarranted overdrafts no longer happen.

I have checked my credit rating this week and scores are as follows;

Application score: 711
Callcredit score (lenders): 736
Equifax score (lenders): 777

Could anyone with experience tell me if I am being unrealistic in trying to get a mortgage next year? And is there anything I can do in the next 8-10 months to maximise my chances?

Thanks in advance :money::beer:
Feb GC: £197 :T / £320 Feb £5 a day challenge: £ / £145
I'm a (rubbish) Flylady!
Still De-cluttering in 2012!!!
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Comments

  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    There is likely to be a home for this, based upon what you have said although may not be the best product on the market.


    Going forward you have to hit all of your payments on time and do not worry about scores the credit agencies they provide. Content crucial, scores worthless
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • Dave_Ham wrote: »
    do not worry about scores the credit agencies they provide. Content crucial, scores worthless

    Sorry hope you don't mind me butting into this thread but what is the 'content crucial' as opposed to the credit scores?
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    The detail of the report, so missed payments, defaults, mortgage conduct, CCJ's etc.


    That is the hard, factual information that the lenders take and not the superficial score they provide
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Lenders get the data - account conduct, voter's roll presence, public record data etc.

    They do not get the number your friendly neighbourhood credit reference agency is plugging as your credit score. These are totally irrelevant and are a marketing scheme to get people to sign up to pointless subscription services.

    Obtain your £2 statutory file every six months or so to check the data is accurate and you need do nothing else but pay your payments on time to ensure your chosen lender's score on application day is sufficient for you to pass.
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • Would they look at that detail for DIP? Not a sort search DIP like Halifax do.
  • sorry soft search!
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yes. All it doesn't show is more than three years account conduct and at previous addresses.

    However, the point here is that it's how the lender score you against it's scorecard and nothing to do with what a CRA might think you score on its.
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
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