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Chances of a mortgage with a partner that has defaults
Dollyanna27
Posts: 2 Newbie
Hi!
My partner has about 7 defaulted accounts from the past, he is now gradually paying all these back through the charity, Step Change (roughly £15k in total
)
We'd like to apply for a mortgage sometime next year, but realise the chances could be slim with him as an applicant. Am I better off applying on my own rather than him added on?
Any advice is appreciated.
Many thanks.
My partner has about 7 defaulted accounts from the past, he is now gradually paying all these back through the charity, Step Change (roughly £15k in total
)We'd like to apply for a mortgage sometime next year, but realise the chances could be slim with him as an applicant. Am I better off applying on my own rather than him added on?
Any advice is appreciated.
Many thanks.
0
Comments
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Just thought I'd add that I have a very good credit report!0
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There is no way of knowing how much this is damaging his credit file without seeing it.
I suspect you will be looking at a 25% deposit to get this placed.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.0 -
We couldnt get one, my credit rating good, husband has defaults.0
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Dollyanna27 wrote: »Hi!
My partner has about 7 defaulted accounts from the past, he is now gradually paying all these back through the charity, Step Change (roughly £15k in total)
We'd like to apply for a mortgage sometime next year, but realise the chances could be slim with him as an applicant. Am I better off applying on my own rather than him added on?
Any advice is appreciated.
Many thanks.
Your partner would be better off making a more determined effort to repay his debts. If a mortgage is a serious consideration. As the impact of a DMP is going to last for many years .0
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