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Mortgage now or wait?
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itwasalladream
Posts: 9 Forumite
Hello,
Just looking for some advice if possible,
My partner and I have been saving to buy a house for the last few years and have moved back home to our parents to help with this.
The initial plan was to wait until April/may next year to apply for a mortgage, but we have now seen our ideal home!
My partner has a perfectly clean credit file, however I have 2 defaults from 4/5 years ago both for £300, and multiple payday loans from about 4 years ago.
The house is 235k and we will have a 10% deposit. We earn 49k between us.
Do you think we'd have a chance of getting a mortgage now or should we hold on until the new year when my bad credit history is further in the past?
Thanks in advance!
Just looking for some advice if possible,
My partner and I have been saving to buy a house for the last few years and have moved back home to our parents to help with this.
The initial plan was to wait until April/may next year to apply for a mortgage, but we have now seen our ideal home!
My partner has a perfectly clean credit file, however I have 2 defaults from 4/5 years ago both for £300, and multiple payday loans from about 4 years ago.
The house is 235k and we will have a 10% deposit. We earn 49k between us.
Do you think we'd have a chance of getting a mortgage now or should we hold on until the new year when my bad credit history is further in the past?
Thanks in advance!
0
Comments
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A broker might be advisable for your case given your credit history."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
100% you can get a mortgage. I just had a mortgage offer from a high street bank no broker just walked in off the street. Had payday loans 13 months ago as long as you are honest with them then you should be fine.0
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As Scottycame mentioned you shouldn't have a problem getting a mortgage. I did off a high street bank with defaults, CCJ and a payday loan, albeit all from 5/6 years ago. Speak to a broker and get further advice, but don't write it off!:jFinally going to be a homeowner:T0
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