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Will we get a mortgage
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ellywellywoo
Posts: 107 Forumite
My partner was seriously ill 18 months ago.
His driving licence was withdrawn due to medical reasons and he had to close his business.
He was out of work for some time but did speak to the credit card companies and bank who had a business account with. He was upfront with them right from the start and they were all very good.
All debts were frozen and now although he still cannot drive for now ,he has got a new job and is earning again.
He was able to borrow some money from a family member two months ago and has now paid these debts off. He came to an arrangement with the companies who agreed to reduce the debt so the debts are cleared.
His house sale is currently going through and the loan will be paid off to the family member
I’m also selling my house and we hope to buy a place together.
We should have a deposit of around 280,000 but may need a small mortgage of around 50-60,000.
Would we be turned down for a mortgage due to the above.I don’t earn quite enough to have it in my name only.
If none of the above had occurred then we don’t think we would have had a problem in borrowing this amount.
But this has potentially changed all our plans.
Luckily he’s better now and we are thankful,for that.
Any advice would be great. Thank you
His driving licence was withdrawn due to medical reasons and he had to close his business.
He was out of work for some time but did speak to the credit card companies and bank who had a business account with. He was upfront with them right from the start and they were all very good.
All debts were frozen and now although he still cannot drive for now ,he has got a new job and is earning again.
He was able to borrow some money from a family member two months ago and has now paid these debts off. He came to an arrangement with the companies who agreed to reduce the debt so the debts are cleared.
His house sale is currently going through and the loan will be paid off to the family member
I’m also selling my house and we hope to buy a place together.
We should have a deposit of around 280,000 but may need a small mortgage of around 50-60,000.
Would we be turned down for a mortgage due to the above.I don’t earn quite enough to have it in my name only.
If none of the above had occurred then we don’t think we would have had a problem in borrowing this amount.
But this has potentially changed all our plans.
Luckily he’s better now and we are thankful,for that.
Any advice would be great. Thank you
0
Comments
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It depends.
What does his credit files say?0 -
What does his credit score say ?
Are there records of black marks
Check for free
https://www.clearscore.comEx forum ambassador
Long term forum member0 -
Ooh don’t know. Would need to check. What’s the best company to use ?0
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Ex forum ambassador
Long term forum member0 -
3 of the free ones
Clearscore for this Equifax report
Noddle for his CallCredit/TransUnion report
MSE Credit Club for this Experian report
Look at the accounts for any defaults or late payment/AP markers.
Ignore the scores and ratings0 -
You check the credit file history for AP markers or late payment markers. Also look for defaults.I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job
0 -
Ok thank you.
Will come back once I’ve checked these0 -
You need to check all three files as the data held may be different across the three CRAs
I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job0 -
Sorry what’s a prody ?0 -
Spelling checker swap
Should be "products" lolEx forum ambassador
Long term forum member0
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