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Santander mortgage application with late payment history
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Kyliewiley
Posts: 7 Forumite
Hi all, first post on here and FTB so go easy on me 
haha!
My husband is applying to Santander for a 85% LTV shared ownership property. Our share is £74,800 so deposit is 11,600 ish.... All ready to proceed but I'm a little bit worried because on his credit record there is a late payment in January and June this year. Just one missed payment on each, green the very next month. No other late payments so to speak. A few over 12 months old that are just lingering on closed accounts. No late or missed payments to his bank/overdraft/credit card etc.
What are our chances of being accepted with this type of history? We have an AIP but there's no indication of a credit search on any of his credit reports so feeling a little reluctant to pay out £500 to reserve the house to then be declined immediately on full application.
Any advice/experience would be fab
haha!My husband is applying to Santander for a 85% LTV shared ownership property. Our share is £74,800 so deposit is 11,600 ish.... All ready to proceed but I'm a little bit worried because on his credit record there is a late payment in January and June this year. Just one missed payment on each, green the very next month. No other late payments so to speak. A few over 12 months old that are just lingering on closed accounts. No late or missed payments to his bank/overdraft/credit card etc.
What are our chances of being accepted with this type of history? We have an AIP but there's no indication of a credit search on any of his credit reports so feeling a little reluctant to pay out £500 to reserve the house to then be declined immediately on full application.
Any advice/experience would be fab
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Comments
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Are you applying directly to Santander or via a broker?
Have you been honest about the missed payments?
If via a broker, has the broker been honest about them with Santander?
I wouldn't say that just because late payments are over 12 months old and on closed accounts means you can shrug them off.0 -
Yep, applying through a broker who is aware of the late payments. I'd imagine since she's a very good friend of ours that she's been honest in supplying our information too.
I'm not shrugging the other payments off but the closed accounts with late payments on don't appear on Experian report which if I'm correct I'm sure Santander use.0 -
Anyone else have any info/advice?0
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Yes, Santander use both Experian and Equifax.
Your concerns should be addressed to your friend. Much better than being given the wrong steer on here that causes you to doubt her.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 -
Hi Kylie
I am in the exact same bought. Applying to Santander for a Mortgage for shared Ownership for a 40% share on a new home costing £76.000. But found only last week when looking on my credit score that I have late payments. Gutted and worried.
6 late payments in 6 years.
2 of them being the last 12 month.
So I am not sure if we get accepted0 -
Sorry was meant to be boat0
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Any news from Santander?0
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Did you get an approval on your mortgage? :www:0
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