Mortgage question

Oakdene

Hi all

Just after some advice regarding a mortgage.

Basically I got into a lot of troubles around 5-6 years ago and entered a debt management plan to pay off Pay Day loans which I never defaulted on. At the time my noddle credit rating was '1'.

Through saving and being strict I paid them off in full & now the only debt I have to myself is a credit car (on a 0% deal) for less that £3000.00, which I am currently paying off at around £150 a month. I looked again at my noddle report & I've gone to a '3'. I know these noddle report ratings mean nothing...

Anyhow in the coming year or so I hope to apply for a mortgage with my other half so we can grow & get a bigger house. My question is, am I being unrealistic in thinking I will be laughed out of mainstream lenders?

I plan to save like made & pay off as much of my credit card as possible, as well as making sure my expenditure is sensible to ensure its seen as Im looking after my money....

Any advice will be greatly received.

libf

Consult an independent, whole of market broker with your credit reports to find out your chances at highstreet rates.

StevieBleeds

Both myself and my missus were a '3' on the Noodle site and we managed to obtain a Nationwide mortgage recently.

I would certainly concur with libf and seek out the services of an independent, whole of market broker.

kingstreet

libf wrote: »

Consult an independent, whole of market broker with your credit reports to find out your chances at highstreet rates.

Yep. All three, not just Call Credit.

The information is not the same on each one.

Oakdene

Thanks all for your responses...

Would speaking to a broker leave an imprint on my credit file?

kingstreet

No. Not unless you ask them to do an agreement in principle for you.

As an example, we would provide illustrations and ask for your authority to proceed before doing so, explaining the difference between hard and soft search footprints depending on lender concerned.