Chances of getting a mortgage

loubylou18

sorry i have caused such conflict. All i wanted was some opinions. I did not pay for my credit reports, so havent wasted any money, and if i had paid that would have been fine as its quite interesting to read. our circumstances are that we both have full time jobs, been in them for several years, we dont have any children, we have a healthy deposit and have been renting for several years, paying a lot of money each month with no problems. hope this information is more useful

Landofwood

loubylou18 wrote: »

sorry i have caused such conflict. All i wanted was some opinions. I did not pay for my credit reports, so havent wasted any money, and if i had paid that would have been fine as its quite interesting to read. our circumstances are that we both have full time jobs, been in them for several years, we dont have any children, we have a healthy deposit and have been renting for several years, paying a lot of money each month with no problems. hope this information is more useful

Sorry it's still not useful.

You need to supply income information, property purchase price, exact amount of deposit (not just "healthy") and relevant credit history. Ideally you will speak to a broker and provide a lot more detail.

Paying for credit reports is not a problem. Paying for the score is a waste of money.

kingstreet

If I ask a potential client for a copy of their credit file, I want to see the raw data visible on there, I take no notice of the CRA calculated "credit score" as it has little value.

Lenders do exactly the same.

These scores are nothing but a marketing ploy used by lenders to generate income and anyone paying for them should stop immediately. A £2 statutory credit file is perfectly suitable for what we need.

kingstreet

loubylou18 wrote: »

Hi

We have recently applied for a mortgage, but I have been reading up and it says if you have used a debt management programme its unlikely you will get a mortgage.
My partner used a DMP years ago and its all been settled a while back, and his credit rating is good 882 and mine is excellent 969.
do you think we will get the mortgage or are we dreaming?
thanks

As has been pointed out, as long as your credit history is clean for the last six years and there are no negatives on your credit files, a mortgage of upto 95% of the purchase price at upto 4.5 x joint income (after some deductions have been taken into account which vary from lender to lender) should be possible.