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Mortgage Adice/Help!
miserable10
Posts: 21 Forumite
Morning All,
My wife and I are looking to apply for a mortgage but wanted some advice before I do.
I had to declare myself BR 5/6 years ago. My BR is coming off my Credit File at the end of January though. I know I currently have a bad credit rating but my wife and I are looking to get a mortgage of 170-200K. We have 280K to put down as a deposit on a house. House Value we are looking at is 450K.
I currently earn 33.5K and my wife earns 24K rising to 28K in January.
My question is what is the likely hood of Banks lending us the money after my BR has come off my Credit File. Would it be better for my wife to apply for a Mortgage by herself or we got a better chance getting it together?
Thanks.
My wife and I are looking to apply for a mortgage but wanted some advice before I do.
I had to declare myself BR 5/6 years ago. My BR is coming off my Credit File at the end of January though. I know I currently have a bad credit rating but my wife and I are looking to get a mortgage of 170-200K. We have 280K to put down as a deposit on a house. House Value we are looking at is 450K.
I currently earn 33.5K and my wife earns 24K rising to 28K in January.
My question is what is the likely hood of Banks lending us the money after my BR has come off my Credit File. Would it be better for my wife to apply for a Mortgage by herself or we got a better chance getting it together?
Thanks.
0
Comments
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Lenders look for six years from date of discharge and the fact it is no longer visible on your credit file should be ignored as the search solicitors carry out will still show it, so don't be tempted to withold it at application.
Speak to an independent broker about it and the rest of your application data.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Best to simply take Kingstreet's advice above.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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