Chances of getting a good mortgage

MattLcfc

Hi all,


First of all, I'll explain my situation. Me and my wife have been married a little over 6 weeks, and with a bit of money gifted to us as a wedding present, as well as a further £700/800 a month my wife and I are saving, we are hoping to be in the position to buy a house towards the end of this year. We are looking at properties in the region of 130k-140k with a 10% deposit. Our joint income is about £37,000 a year, and our application will be joint one. My wife's credit history file is pretty spotless, mine is detailed below.

My Credit Score on Experian is 836, which is classed as fair. I have the usual utilities bills with no late payments, a credit card with a limit of £1500, which is partially used and paid each month in full, and an overdraft of £300 which is not touched.

However, despite managing my money well in the last 2-3 years, before I meet the wonderful women that is now my wife I was pretty reckless when it came to finances.

I had a phone contract with Orange which I cancelled in 2012 when I was given a company phone, despite never defaulting there are about 10 late payments being shown between 2007-2012.

Between 2010-2012 I found myself in a horrible cycle of lending from Pay Day Loans. There are 24 recorded on my credit file, all showing as being paid in full and on time, but surely this can't look good at all?


I really just wanted to try and understand what our chances are of being able to gain a mortgage, with the late payments & Pay Day Loan records on my file? Do you think I'd be refused? If not is it likely We would paying high interest? or would lenders view my more recent records of managing money much better more favourably ?


Any help, advice or opinions would be much appreciated. Thank you