Credit scores

richieandfay

Hi there,
Can my wife and I be accepted for a mortgage if my credit score is excellent and her's is poor?

Thanks in advance

Thrugelmir

Why it is "poor" will determine the options available to you.

richieandfay

Thank you for your reply

Why it is "poor" will determine the options available to you.

Options? what do you mean

Thrugelmir

Lenders have different criteria. From the mainstream to those that specialise in adverse credit. While appearing similar lenders aren't uniform.

Verix

As a guide lenders will not work off an average of two scores (your excellent and her poor don't equal average for example). Instead the lender will judge the application on whatever the negative factors are for your wife.

For example if your wife has had defaults in the past then certain lenders will take these, others will not. If your wife has relied on pay day loans to support her income some lenders will be more lenient than others. We would need to know some more specifics before giving an accurate idea of your chances/options.

richieandfay

Thanks Verix,
My wife has one default and a 3 late payments as she forgot due to a death in the family. She doesnt have any payday loans and never has.
Thanks again

Verix

Ok, so depending on the details of this default (how much it was for, when she got it, whether it is settled and if so when) will determine which lenders criteria this will fit in with. The missed payments are less likely to be an issue unless they are very recent or on something like a mortgage.

Unfortunately none of the advisers on here can suggest any lenders to you, for that you would need to find a broker. Odds on there is a lender out there whose criteria you fit in with, it's just whether you will pass a credit check with them.

richieandfay

Ok,
My wifes default was for £175 and it is now settled and the missed payments were for a catalogue.

Thanks again for your advice

amnblog

This is such a broad question as your options will depend on:

The level of your deposit
When the credit file problems occurred

ACG

There is no such thing as "a" credit score.
Every lender scores you differently.

The trick is to find a letter who will accept you both and your circumstances.