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Will my credit history affect my mortgage application?
missmortgagehunter
Posts: 42 Forumite
HELP!
My partner and I are looking for a mortgage for a shared ownership property, we are first time buyers. My partners credit score is 'excellent', mine is now 'good'.
We went to a mortgage advisor at the beginning of the week to make a mortgage application with a 5% deposit. We got rejected due to 'adverse credit' which neither of us were aware of. On investigation, I noticed that my credit rating was low with 2 missed mobile phone payments, an outstanding balance and flagged as 'barred'.
Since then, my mobile phone company have agreed to remove this information. I logged in today to find that the outstanding balance has been cleared and the account is now 'live' not barred.. my credit score has jumped up by 100 points and is now 'Good'. They have not removed the missed payments however.
Is there a chance we would get accepted with a 10% deposit on these terms? Or would it be worth its weight in gold to chase up the mobile company to remove the missed payments too.
My partner and I are looking for a mortgage for a shared ownership property, we are first time buyers. My partners credit score is 'excellent', mine is now 'good'.
We went to a mortgage advisor at the beginning of the week to make a mortgage application with a 5% deposit. We got rejected due to 'adverse credit' which neither of us were aware of. On investigation, I noticed that my credit rating was low with 2 missed mobile phone payments, an outstanding balance and flagged as 'barred'.
Since then, my mobile phone company have agreed to remove this information. I logged in today to find that the outstanding balance has been cleared and the account is now 'live' not barred.. my credit score has jumped up by 100 points and is now 'Good'. They have not removed the missed payments however.
Is there a chance we would get accepted with a 10% deposit on these terms? Or would it be worth its weight in gold to chase up the mobile company to remove the missed payments too.
0
Comments
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Speak to your mortgage adviser who knows your case.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
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