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Mortgage after debt

reggieroo1980
reggieroo1980 Posts: 4 Newbie
in Mortgages & endowments
We got ourselves into a lot of debt through reckless spending, the debt was about 30k but over the last 3 years of living within our means and changing our spending habits we have just managed to pay it off, we have never missed payments and always paid our mortgage for the last 12 years. My question is are we likely to get a decent mortgage or will the fact we had debt go against us? we earn £55k between us and have 70K equity in our current home.
Thanks Reg

Comments

  • Debtslayer
    Debtslayer Posts: 447 Forumite
    How much are you looking to borrow?
    Have you had any defaults?
    Current Mortgage 01.10.17 £113,513.88
    MFW Start Mortgage: £114,794.64
    Current MED: 2036:eek: Target MED: 2026 ;)
    Overpayment Target for remainder of 2017: £2,000
    Mortgage overpayment savings: £684.80
    MFW No 124 :money:
  • glosoli
    glosoli Posts: 739 Forumite
    Eighth Anniversary 500 Posts Combo Breaker
    They will be interested in what your current credit report contains rather than debt levels of the past. If your debts are at low levels now and assuming no bad bureau in terms of arrears, defaults, etc, then you have little to worry about.
  • reggieroo1980
    reggieroo1980 Posts: 4 Newbie
    We've got no defaults, arrears or missed payments.
    Thanks for the replies.
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