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Mortgage and poor credit, with easily solveable debt
Kiwistrawb1990
Posts: 192 Forumite
Hello,
I have a short combined debt total on 2 credit cards totalling £600 - something I plan to pay off in full this month.
I also have an overdraft (interest free) of 1,500.
My credit score isn't the best at the moment, mostly because of a combined balance being more than 90% usage. But I do have the means to completely settle this.
I have a default for a small amount which is 5 years old.
I am employed full time with a £35k salary. I have been irresponsible with money in the past, I could have had this credit card paid off a while ago but we didn't expect to be buying so soon.
Our combined income is approximately £70k. My girlfriend has extremely good credit, a low credit card balance and a good score.
We have found our dream house, my question is, are we likely to be able to get a mortgage for £216k?
We have got a mortgage advisor but I'd like to know if it's possible before I get too committed to the house.
Thank you so much for your time.
I have a short combined debt total on 2 credit cards totalling £600 - something I plan to pay off in full this month.
I also have an overdraft (interest free) of 1,500.
My credit score isn't the best at the moment, mostly because of a combined balance being more than 90% usage. But I do have the means to completely settle this.
I have a default for a small amount which is 5 years old.
I am employed full time with a £35k salary. I have been irresponsible with money in the past, I could have had this credit card paid off a while ago but we didn't expect to be buying so soon.
Our combined income is approximately £70k. My girlfriend has extremely good credit, a low credit card balance and a good score.
We have found our dream house, my question is, are we likely to be able to get a mortgage for £216k?
We have got a mortgage advisor but I'd like to know if it's possible before I get too committed to the house.
Thank you so much for your time.
0
Comments
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We'd need to know the deposit amount available to be able to help furtherI am a mortgage broker and IFA. 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 advice0
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Thank you for your reply.Whats_your_forte said:We'd need to know the deposit amount available to be able to help further
We have 30k in savings to use as a deposit.
We are going to use help to buy as well as its our first mortgage. We would need to borrow 216k
Thank you so much0
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