Viability as a borrower - Q for brokers :)

Sherrera

Could any brokers have a scan of this and let me know how viable my sister in law and hubby are to borrow £200,000ish over 15 years? They've just spent 2 years clearing debts and doing amazingly well getting their finances sorted - I am in awe of them:) But the question is, how much is their less than perfect past still going to haunt them?


Good news
£70k in the bank
No debts (one credit card with zero balance used and then cleared monthly)
Married join income around £80k
Self employed through own Ltd company with 4 years' audited accounts showing steady income and annually retained profit of around £20k
Other than rent, utilities and food only regular monthly outgoing is £600 on car rental
Past 24 months credit history flawless


Bad news
2+ years ago credit history poor - several missed payments on credit cards mainly. No CCJs etc but plenty of missed by 1 or 2 months.
Both borrowers just turned 50 with retirement age of 66


With thanks

tvfreek

Whats the value of the property and their age?

amnblog

Minimum £30,000 deposit and they should be in business.


OFAB

Sherrera

Thank you for you replies. In answer to queries -


Deposit will be £70k on property of around £270k
They are both 50