Joint first Mortgage - one bad credit

Lee153

Hi, me and my girlfriend are currently saving a deposit for a house and are looking to buy one at the beginning of next year with a 10% deposit on a property around the value of £130,000.

We have an income between us of about £45,000 a year, and my girlfriend has an excellent credit rating.

Myself however has a somewhat patchy credit file and on experian it puts me on a score of 749 in the fair section.
I have 3 defaults on my file all settled for small amounts all under the value of £200. Two of these defaults are due to come off in summer this year, so when we make our application ill have only one with a year remaining.
Other than that, i recently made a missed payment with some confusion thinking id set up a direct debit. Also i have a significant number of payday loans on my file, but these were always paid.
My current credit acounts are a silver and a cash account with lloyds aswell as a savings one, a store account with very.co.uk in which i owe £1000 and a high interest credit card with vanquis with a limit of £500 in which i owe nothing. I also have a mobile phone contract in which payments are never missed.

My question is, would we be able to get a mortgage?
And i would greatly appreciate any advise on how to improve my credit rating over this next year while we are saving.

Thankyou for reading (and apologies if this is in the inappropriate section of the forum)

Lee

Tixy

How old will the default be by then?
And how long since you last used payday loans?

It should be possible to get a mortgage if neither of these are recent. Thats not to say all lenders would necessarily consider you - but you should be able to find one willing to - usually with adverse data on file its advisable to speak to a independant mortgage broker.

Lee153

The 3rd default will be 5 years old by that time and it was settled 7 days later at £185.
The last record of a payday loan on there is in 2013 so it will be 3 years by the time we apply.
Ive been so stupid with credit, its really getting me down about all the potential complications its going to cause.

Tixy

Hopefully these won't cause you too much of an issue by then.

Obviously in the meantime make sure you pay everything on time and work on clearing that catalogue debt.