We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Chances of a mortgage
Options
teakay
Posts: 6 Forumite
Hi all,
Been reading forums a while, and now have a few questions to see if i can qualify for a mortgage with payments a month.
Mrs & I have about 8k saved up and we are looking for property 120-140k.
Combined salaries 44K
1 default satisfied due to drop of Jan 2019 myself Cc balance 2k no missed payments
Mrs has no missed payments or defaults. CC balance 1500.
Been reading forums a while, and now have a few questions to see if i can qualify for a mortgage with payments a month.
Mrs & I have about 8k saved up and we are looking for property 120-140k.
Combined salaries 44K
1 default satisfied due to drop of Jan 2019 myself Cc balance 2k no missed payments
Mrs has no missed payments or defaults. CC balance 1500.
0
Comments
-
You should be fine.
The details on the default will determine your options - how much was it for, what was it for, has it been satisfied. If a small amount and satisfied normal rates should be achievable. If a large amount and not satisfied then you may struggle to get normal rates until it drops off - but on the face of it, getting a Mortgage will be possible.I am a Mortgage AdviserYou 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.0 -
As ACG has said, you should obtain a mortgage its just the details of the default which will determine the interest rate availableI 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 advice.0 -
Can you wait until the default comes off your file.
It will improve your options. Also use the extra time to pay your unsecured debt down some more.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards