Couple Mortgage with Large Deposit But elephant in the room

danield22

Hello all,

I have recently come in to a large amount of money and am looking at buying a house with my partner. I have around £90k for a deposit and am looking at houses around the £300-£350k mark.
We are both full time employed and have around 70k a year coming in as a couple...things looking good so far.

however i have a credit score which is in the Very Poor section at 230 on Equafix, im currently up to date on all my payments but have had a few defaults and missed payments in my past which seem to have screwed me. My partner however is great with money and has an Excellent credit score of around 700.

What i want to know is with close to a 30% deposit and one of us having a healthy credit score is it likley that we can receive 200k-250k for a mortgage? or does my Very Poor (but improving) score cancel that out?

Any feedback would be very helpful.

The_Unready

I can't help with the mortgage query, but if you do end up buying a house check to make sure that the elephant has been removed from whichever room it was in before you complete. Virtually all mortgage providers will insist on vacant possession.

danield22

Dully noted! although for my price bracket in London id be lucky to fit the Elephant in the garden!

mrginge

Your situation may be improved if you can get the elephant added to your new mortgage.

As a dependent, it may put a big hole in your affordability (and your floor).

amnblog

Yes. You can place this but how difficult it will be is a question you should put to a Mortgage Broker.

At least you have the cash if not the credit file. We see many couples where one party is bringing the cash, the income, and the credit file, and the other is contributing nothing but complications.