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Chances of getting a mortgage with bad credit score?
mon1o
Posts: 749 Forumite
Hi im hoping someone can help me. I have lived in my current house for 4 and a half years. I have never missed a payment on the mortgage. My hubby and i have a secured loan again in the 2 years we have had this we have never missed a payment. My hubby has an IVA with CCCS (he has never missed a payment on this in 2 years).
The problem is me. I have a credit card with mint, hsbc, and a storecard with asda and am terrible with making payments on time. I know my score is going to be bad but im wondering if the fact that the secured loan and mortgage which are both in joint names will help my score and despite a (probably) bad credit score for the missed payments im hoping i can get a mortgage.
Does anyone know what my chances are? We have £60,000 of equity in our house after having it valued by a few agents so with that we could pay off every single one of our debts and afford a larger mortgage to buy a bigger house. The mortgage advisor has said we can apply for a mortgage based on this so we have an appointment with her tomorrow but im so nervous.
Hope this makes sense,
Monica xx
The problem is me. I have a credit card with mint, hsbc, and a storecard with asda and am terrible with making payments on time. I know my score is going to be bad but im wondering if the fact that the secured loan and mortgage which are both in joint names will help my score and despite a (probably) bad credit score for the missed payments im hoping i can get a mortgage.
Does anyone know what my chances are? We have £60,000 of equity in our house after having it valued by a few agents so with that we could pay off every single one of our debts and afford a larger mortgage to buy a bigger house. The mortgage advisor has said we can apply for a mortgage based on this so we have an appointment with her tomorrow but im so nervous.
Hope this makes sense,
Monica xx
0
Comments
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I think you are doing it all wrong. Putting short term credit onto a mortgage is rarely good advice plus affording a larger house as rates rise???? Both of you have clearly had problems. It would be better to start paying off debt on time and reducing the debt that wayI like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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