Mortgage advisers welcome

Ryan12345

Hi i have posted the following message on the credit score section but was advised to post it here to see if any mortgage advisers could give have a look..... thanks

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 with limits of £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. The balances on all of these will be £0 in the next couple of months.

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

amnblog

Ryan


You have effectively told us that you have let your finances get out of control.


Your first step should be to resolve this which you have stated as your intention.


I suspect you will need a minimum £8,000 deposit next year given your history.

Ryan12345

amnblog wrote: »

Ryan


You have effectively told us that you have let your finances get out of control.


Your first step should be to resolve this which you have stated as your intention.


I suspect you will need a minimum £8,000 deposit next year given your history.

Thanks for your advice

Would my £20000 per year salary be enough for £80k mortgage?
I am just going to concentrate on getting everything to £0 then saving as much as I can for next year

Thanks

amnblog

Ryan12345 wrote: »

Would my £20000 per year salary be enough for £80k mortgage?
Thanks

Just about, depending on outgoings.