Future Thinking

april87

Been browsing this board for a while now, and would like some advice/pointers.

Me and the OH are looking to move house within the next 12 months or so. OH has a mortgage where we currently stay. I am not on it whatsoever, and we have no financial connections.

Now, I was a bit of a one when I was younger, accumulated a fair bit of debt, buried my head in the sand, the usual story. Now older and far more wiser thanks to MSE, I have 2 credit cards, one paid off in full every month (Aqua) and one with my previous bank (BOS) which is paid off in large chunks.

Now in checking my credit history, I have the following across the various sites;
Clear Score (Equifax) - Negatives include at least one Bankruptcy (Never been bankrupt, but I did have a Trust Deed in 2012 which fell through). Joys of mental health, signing up to a Trust Deed was during one of my clearer moments and before I found MSE.
Noodle (which I believe is Call Credit) - I can't see anything negative from my past which to me indicates that they have fallen off.
Experian - Paid for a £2 report and there was nothing from my history again.

Now with this in mind, what are the chances of us getting a joint mortgage? We would be looking at going through a broker, and possibly seeing one for adverse credit to help. Would we best to see someone as soon as, or wait until we are actually looking to move?

Thanks

David_White

The DRO will naturally reduce your choice of lenders.

Do you need to be on a future application for the sake of affordability?

april87

No DRO David. I've only recently started dipping into my past history within the last year, and a piece of advice from the Debt Free Board I think it was, was to let sleeping dogs lie. I hadn't heard from any of the creditors in almost 2/3 years and most of the debts would have fallen off by now. It is only the Trust Deed shown on Clear Score that stayed from my history, but I am aware this wont fall off until 2018.

Yes, I probably would need to be on the application for affordability. OH currently makes around £22K and current mortgage is around £72k. We would be looking to almost double this, which would allow us to buy something bigger. He is due a pay rise at the end of the year - £25k but with the market up in here that is not something we can count on. If we were to include me, that would take our earnings to £43k.

David_White

DRO, Trust Deed, IVA, Bankruptcy.... any of those registered within the past 6 years cause an issue.