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Mortgage - application with poor credit history
lowmak
Posts: 4 Newbie
Hi All,
It's been quite a while since I have posted on here but I'm always reading and the advice has been brilliant. I was hoping people with more experience than me might be able to help!
The short history is that I was bankrupt back in 2007 but I am now looking to buy with my wife (and 2 children). We have gone to a broker and the details we gave him were:
1. Salary - me only working (61K).
2. Wife - a couple of late payments and overdraft usage.
3. No current debits (credit card of £1.8K paid off yesterday).
4. House price around between £400,000-£430,000.
5. Deposit £130,000-£150,000 (gifted).
He came back saying it should be no problem with Accord. Obviously, I am not an expert (!) but I was surprised and I was wondering if people think a £280,000 is realistic with all of the baggage and one salary? Would anyone have any other suggestions re: providers etc?
Any help or advice would be much appreciated.
Thank you!
LM
It's been quite a while since I have posted on here but I'm always reading and the advice has been brilliant. I was hoping people with more experience than me might be able to help!
The short history is that I was bankrupt back in 2007 but I am now looking to buy with my wife (and 2 children). We have gone to a broker and the details we gave him were:
1. Salary - me only working (61K).
2. Wife - a couple of late payments and overdraft usage.
3. No current debits (credit card of £1.8K paid off yesterday).
4. House price around between £400,000-£430,000.
5. Deposit £130,000-£150,000 (gifted).
He came back saying it should be no problem with Accord. Obviously, I am not an expert (!) but I was surprised and I was wondering if people think a £280,000 is realistic with all of the baggage and one salary? Would anyone have any other suggestions re: providers etc?
Any help or advice would be much appreciated.
Thank you!
LM
0
Comments
-
It does seem a little high but you do have a good deposit and presumably no commitments so it is 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
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