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Chances of getting a Mortgage?
simon_needs_help
Posts: 7 Forumite
Hello,
Here are my circumstances at the moment: I am debt free but I do have a one default (2 years old) and payday loans in my credit history.
Me and my wife are looking to get a mortgage in the up coming months.
We are looking at getting a 250k mortgage but we do have 50% / 60% of the deposit to put down. We also now have a a good savings account and my wife has another property in her name which is mortgage free. Would my bad history affect the outcome?
We are looking are going to Santander as we already hold savings and Joint accounts with them as they can see what incoming and outgoings we have.
Any advice or suggestions would be much appreciated.
Many thanks in advance
Si
Here are my circumstances at the moment: I am debt free but I do have a one default (2 years old) and payday loans in my credit history.
Me and my wife are looking to get a mortgage in the up coming months.
We are looking at getting a 250k mortgage but we do have 50% / 60% of the deposit to put down. We also now have a a good savings account and my wife has another property in her name which is mortgage free. Would my bad history affect the outcome?
We are looking are going to Santander as we already hold savings and Joint accounts with them as they can see what incoming and outgoings we have.
Any advice or suggestions would be much appreciated.
Many thanks in advance
Si
0
Comments
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It may slide through with Santander, but why chance it?
Contract a broker and let them find an appropriate lender, not just the easy option because you bank with them. Your credit issues will be something a lender will consider as part of the application, and yes it may affect the outcome.I am a Mortgage Broker.
You should note that this site doesn't check my status as a Mortgage Broker, 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 advice0
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