Help! we need advice, first time buyers, mortgage advice (bad credit)

PrincessJR

Hi!
My boyfriend (32) is excellent with money and has a really good credit history and savings for a house deposit. Me,(24) on the other hand, I couldnt be more different. I have no savings and have a poor credit rating.
I am on a DMP (debt management plan) and am paying monthly towards my debts (only approx £4000 in total)

We earn £45000 between us before tax and want a mortgage of roughly £145000. Will my partners excellent credit help when considering us for a mortgage, or will the fact I am on a debt management plan mean we will be unable to get one??
Please help!!

diesel_staffie

try these people - national and capital - 08000935989 - we got our mortgage through them - we have fair credit - no deposit etc. good luck

luckyfool

Your partner's good credit will be taken into account. There should not be any trouble getting a mortgage in the circumstances you describe though the debt management plan may mean you end up paying a slightly higher rate.

Speak to a good independent whole of market broker.

cheers

Joe

JoeK_3

PrincessJR wrote: »

Hi!
My boyfriend (32) is excellent with money and has a really good credit history and savings for a house deposit. Me,(24) on the other hand, I couldnt be more different. I have no savings and have a poor credit rating.
I am on a DMP (debt management plan) and am paying monthly towards my debts (only approx £4000 in total)

We earn £45000 between us before tax and want a mortgage of roughly £145000. Will my partners excellent credit help when considering us for a mortgage, or will the fact I am on a debt management plan mean we will be unable to get one??
Please help!!

Can you show us how your incomes are split.

If your boyfriend earns enough, you could get the mortgage just on his income and get the best interest rates.

JoeK