First time buyers, mortgage stuff, HELPS

ryanoc

Hi all,

So we are first time buyers, both in full time work and looking to get a mortgage, we are very lucky and have a big deposit ( 100k) for the house we love which our offer has been accepted. However, my partner went to HSBC today to try and get us an agreement in principal, however we were turned down straight away and they didnt even look at our deposit. We need to borrow 56,500 so we are surely in a good position?

. mad panic. Anyhow after I had calmed down and she had we both checked our credit scores, hers is at the very top, I'm on the border of poor and very poor, it isnt great. I know i was terrible with money in the past but I have made every effort to sort myself out, paying off credit card/overdraft. I have a few late payments, none missed . I am aware these affect you and now feel like an idiot and really ashamed of myself. Its no excuse but I was young stupid, I'm still on 26 so it is still a learning curve.

Are we done then? Will nobody lend to us? I went in to see the independent advisor at the estate agents we are using and she looked at my report and basically said not to worry and she has no doubt someone will accept us with that deposit.

A bit of extra info- I have a car which i purchased on finance last year, never missed a payment but still have 3 years left on the agreement to pay it off. It is 225 a month. with my other outgoings on top I pay out around 300 a moint of an 1100 a month paycheck.

So any advice, do I give up and let her apply on her own? Or do we go see the Independent advisor on friday and see what she can find us as she seemed certain she could help us out. UGH it was all going swimmingly till today.

HELP

amnblog

You might find it easier or harder for your partner to apply on her own.


You have made the correct step in seeking out some advice on a case which should be placeable.