Advice on getting into good mortgage position

Sugarbaby

Hi- Just looking for a bit of advice on getting a mortgage in 12 months time

I rent with my boyfriend and we both moved in together from rented accomodation- we both have previous credit problems due to marriage breakdown

In my case my husband was leading a double life ended up in serious debt that i knew nothing about and defaulted on our mortgage- i found out about the whole mess the day the repossession notice came through- that was 9 years ago- i tried by getting a second job to clear the debt he amassed but ended up going down route of IVA which i have now come out of (1 year ago).

In my boyfriends case a bad split resulted in 2 defaults on his file which he is rapidly paying off- otherwise he has a good credit history

Together we have a joint income of £170,000 which we are saving a fair bit of- we are hoping for a mortgage of around £300,000 with a deposit of £60,000 over 20 years.

We both have stable jobs etc but im worried that my history will stop us getitng a mortgage together- any thoughts on our chances given the high income and low mortgage- aside from defaults we have no other debt - credit cards paid in full each month and both cars owned outright
Thanks for help

kingstreet

Obtain all three versions of each person's statutory credit file and put them in front of a good independent mortgage broker.

The contents will determine when and to whom an agreement in principle should be directed.

As many lenders source data from only one credit reference agency, getting all three credit files to see which is the best of them would help the broker in rejecting the wrong lender and shortlisting the best options for you.

kingstreet

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/order.ehtml?prod_cd=UKSCR

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=basket_add&tpl=setRegister&package=63&amount=1&mode=clear

Experian

http://www.experian.co.uk/consumer/statutory-report.html#orderReport

Do not sign up for paid-services alleging to provide your credit score. They don't!

Japtastic

With a joint income of £170k, would you not just save a 100k a year and buy outright in a few years time?

Sugarbaby

Thanks for responses guys- yeah i have thought about that but guess im just feeling desperate to have my own place again- feels like it will wipe out the last horrible few years- we do pay a very high rent at the moment which we plan to move from to increase savings- guess im just wondering if with such a high income a mortgage was possible- ideally we would overpay and clear it early