Three questions? [mortgage advisor

Newbie_loan

Applying for shared ownership with 10k saved and 5k debt not loans.
Currently using a broker.

1. How does grey APs effect your application to mortgage, done a credit search with equifax and found that my other half in 2010 had 6 AP months. (She did not understand the impact as she was a student at the time)

2. Is it even possible to get a shared ownership mortgage? With my circumstances.

3. Unarranged overdraft. I have a few last year these do not show on my credit report BUT do they effect my credit report? I dint even realise as the account was getting charged and then going into the unarranged.

ACG

1) How old are they?
2) I dont do Shared ownership so cant answer.
3) Probably best to avoid whoever you bank with.

Newbie_loan

1. There just over five years old.

2. Shame

3. Yeah I bank with natwest and I would not want a mortgage with them anyway.

What do the underwriters see do they see I have gone in my unarranged over draft or is this only if they ask for bank statements.

Dave_Ham

Not many lenders that consider shared ownership mixed with adverse credit.

Most lenders want 3 months, but maybe up to 6 months.

There certainly is enough to go at for a broker to look through the detail of the case.

Best of luck

Newbie_loan

ACG wrote: »

1) How old are they?
2) I dont do Shared ownership so cant answer.
3) Probably best to avoid whoever you bank with.

1. There just over five years old.

2. Shame

3. Yeah I bank with natwest and I would not want a mortgage with them anyway.

What do the underwriters see do they see I have gone in my unarranged over draft or is this only if they ask for bank statements.

Newbie_loan

3 months but maybe in terms of 6 months for what?

Dave_Ham

Sorry bank statements

Newbie_loan

Thank you for your help.

I'm just hope I get a mortgage. I've spent so much in rent and now to be asked to leave our current rented accommodation is a kick in the teeth.

Thrugelmir

Newbie_loan wrote: »

3. Unarranged overdraft. I have a few last year these do not show on my credit report BUT do they effect my credit report? I dint even realise as the account was getting charged and then going into the unarranged.

Have you checked all your credit reports?

Thrugelmir

Newbie_loan wrote: »

(She did not understand the impact as she was a student at the time)

If she had the money then AP arrangements wouldn't have been necessary in the first place. So it's the effect of not the cause of.

Newbie_loan

AP as in its appeared on a credit file she has never checked her credit file before now.

The AP was in the first year she was at uni, it was a credit card with natwest. The credit card that has the grey APS on was settled in 2012.


I have only done credit check on equifax...??