Do I / Dont I apply... Mortgage

FlipFlopHatch

So to cut a long story short I am 28 looking to apply for a first time buyers mortgage.

I have had a sketchy past with my credit history. A CCJ which is 62 months old and 2 old defaulted acounts. However since then no problems.

My score with noddle is 3/5 and experian is poor 610. We are looking at properties around 170k with a 20k deposit. my partner is on 24500 and I am on 23970 with little commitments.

I am hoping that when we speak to the mortgage adviser they will look at recent history rather than the older mistakes i made. Is it worth applying or giving up completely? Im feeling a little deflated as an independent mortgage adviser said we should wait. We have a meeting with Nationwide (who we have our Save to buy ISAs with) im hoping they wont laugh me out of the building...

Any feedback would be great.

ACG

I do a lot of adverse and I am used to seeing defaults within the last 3 years.

Do speak to a broker though as its not a given but I am sure you will be fine.

Joy_mate

Try to increase credit score ASAP. In terms of income and repayment u r just as like I was. But my credit score was 960. I managed to secure 165k though.

FlipFlopHatch

Thank you for your comments.

It feels like it's taken ages to improve. Previously I felt I was doing a lot better but experian recently revamped their scoring which hit me hard. Sadly I don't think there is an ASAP option.

I'm joking as nationwide is my bank they will judge me by my current rather than my past.

alchemist.1

FlipFlopHatch wrote: »

Thank you for your comments.

It feels like it's taken ages to improve. Previously I felt I was doing a lot better but experian recently revamped their scoring which hit me hard. Sadly I don't think there is an ASAP option.

I'm joking as nationwide is my bank they will judge me by my current rather than my past.

The Experian score doesnt make any different. Experian dont lend any money and banks /buildings societies dont work off that score.

Its the contents i.e the defaults and CCJ.

As advised go and see a specialist broker who will advise you who best to apply to.

Joy_mate

Don't give up. If you can't tie a knot. Then tie a lot. You will deffo get 1 boat to sail on ocean of property market.

FlipFlopHatch

Sorry I meant I'm hoping!!!

Thanks for your comments. I feel a bit better

Thrugelmir

Have you opened a Help to Buy ISA?

FlipFlopHatch

Yes we both have our Help to buys ISAs with nationwide. Hence our meeting with them Thursday. Obviously they will see our regular commitment to that also... But that doesn't guarantee a mortgage offer

amnblog

Nationwide may not be not the right option for you, so don't be surprised or worried if you get a 'no'.

Was the broker you saw a specialist in poor credit cases? If not, consult one who is.

FlipFlopHatch

No it was just a normal broker... And although he didn't say no he said at the moment he wouldn't want us to try.

Are meeting on Thursday is step 1 of 3 with nationwide.