Chances of getting a mortgage?

Ryan12345

Hi

I am looking at getting a mortgage next year for around £70-80k AT 95% LTV on a standard variable/tracker mortgage I just want to know what you all think my chances are of getting one in the current climate.

Salary- £17500 ( April next year will go up to 20k )
I have 2 credit cards one with £750 and one with £200 and a couple of catalogs with £300 each. I always pay off my credit cards each month in full but the others i don't but always pay on time.

Over the last few years i always used to miss payments and at the time not realizing what effects it would have. Mobile contact, tv licence etc but have been paying everything off on time recently. 6 months ago i checked my credit rating and it was 'excellent' and i missed a phone contract payment a few months ago and iv checked it twice on noddle and one other (don't worry i didn't pay and the actual score was really bad and it still is but there's nothing actually on that's bad. I have read on here don't read into the score as its a load of crap but you know ha.
I am on the electoral roll.
Here is the plan...., I'm going to start to start putting £400 a month into my savings account until this time next year and paying everything on time. Realistically what are my chances of getting a mortgage next year? Personally i think i have no chance but i hope you can give me a bit of hope
thanks
Ryan

Ryan12345

Anyone?:beer:

themull1

put your details into one of the banks affordability calculators, this will give you a general idea, but based on your debt and salary, i'm going to say that you won't get one.

Ryan12345

themull1 wrote: »

put your details into one of the banks affordability calculators, this will give you a general idea, but based on your debt and salary, i'm going to say that you won't get one.

Thanks for the reply

The only debt i have is about £100 over 2 catalogues which will be paid net month the credit cards are just the limits i have on them.

maas

Repost this on the Mortgages forum. There are some mortgage advisors who post regularly on there who should be able to advise.

Ryan12345

maas wrote: »

Repost this on the Mortgages forum. There are some mortgage advisors who post regularly on there who should be able to advise.

The mortgage section on here ?

themull1

Yes - look for the heading x

Elsbells21

here you go
http://forums.moneysavingexpert.com/forumdisplay.php?f=15

good luck!

thebritishbloke

Another note, set up direct debits for all your credit cards/mobile contracts etc. This will prevent you missing payments (so long as there's money in the bank account).