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Mortgage with poor credit and OHs top notch credit
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MissHG
Posts: 12 Forumite
Afternoon,
I’m sure this has all been asked before but couldn’t find anything relevant to my circumstances, so sorry!
Me and my OH plan to be in our own home by April 19. However, I have poor credit and he has amazing credit.
My credit record is being affected by: Not being on electoral roll (now rectified), Telecomms o2 default dating April 14, payday loans from 2013-Dec 16 and using roughly 50% of credit and store cards (£3200 of £6k). I also took out a debt consolidating loan from 118 money which has been fully paid off since last month. I’m on target to clear all debts by August.
My OH has an exemplary credit score and pays off his credit card balance on the reg.
We have 10k saved up between us in separate Help to buy ISAs, 8K car I’m willing to sell and OH has savings we’d rather not touch. With some hard saving over the year we hope to satisfy the 10% deposit lenders require for a 180,000 house. :money:
:question:Now, with my history and his savvy was would lenders be more inclined to offer mediocre rates or hefty rates?
:question:Also, which lenders would be willing to approve with relatively recent payday loans being on file?
I’m sure this has all been asked before but couldn’t find anything relevant to my circumstances, so sorry!
Me and my OH plan to be in our own home by April 19. However, I have poor credit and he has amazing credit.
My credit record is being affected by: Not being on electoral roll (now rectified), Telecomms o2 default dating April 14, payday loans from 2013-Dec 16 and using roughly 50% of credit and store cards (£3200 of £6k). I also took out a debt consolidating loan from 118 money which has been fully paid off since last month. I’m on target to clear all debts by August.
My OH has an exemplary credit score and pays off his credit card balance on the reg.
We have 10k saved up between us in separate Help to buy ISAs, 8K car I’m willing to sell and OH has savings we’d rather not touch. With some hard saving over the year we hope to satisfy the 10% deposit lenders require for a 180,000 house. :money:
:question:Now, with my history and his savvy was would lenders be more inclined to offer mediocre rates or hefty rates?
:question:Also, which lenders would be willing to approve with relatively recent payday loans being on file?
0
Comments
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Cough. Cough.0
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Get all three versions of your credit file and put them in front of a broker.
Ask friends and relatives for a recommendation.
You can safely start this in December, for April 2019 completion.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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