Poor credit score but big deposit

Weeboots

I'm looking to get a ftb mortgage for £120k property
I can put up 60k deposit but my credit score is in the high 560's ie poor
I've read lots online and I'm now worried I won't be approved for a mortgage.
Has anyone had experience of this ?

[Deleted User]

Engage a broker. A large deposit will mean there should be options but it needs to be placed with the right lender if you have adverse credit history.

If it's just the number you're worried about and your history is fine, then you could go it alone, as the score doesn't matter.

HappyMJ

Weeboots wrote: »

I'm looking to get a ftb mortgage for £120k property
I can put up 60k deposit but my credit score is in the high 560's ie poor
I've read lots online and I'm now worried I won't be approved for a mortgage.
Has anyone had experience of this ?

My credit score is 556 but my credit is excellent even though Noddle says it's "Poor". Ignore the score it means nothing. As long as you've paid all of your credit agreements on time for the past 6 years then your credit really is good to excellent.

I have no adverse credit history at all. I've got 6 credit cards. 2 have current offers on balance transfers and one is my day to day spending card which is paid in full each month. The others aren't used.

I also have 2 personal loans with 18 months left to run and I've got several current accounts.

There's no late payments, defaults or CCJ's and that's what's important.