Bad credit score when applying for mortgage!

cheryluk84

Good Morning,
Myself and partner are just going for our first mortgage and the affordability check came back fine. My credit score is high yet his is something like 575 because he has an old debt which was cleared nearly a year ago. Will this stop us getting a mortgage and should we just quit the process now!? 

jimbo26

No it shouldn't prevent you from getting a mortgage, it may effect the rate you are offered. My advice is to speak to a mortgage advisor who has access to the whole market.

[Deleted User]

His score - and yours - won't be seen by lenders.  They will only look at his credit history so it very much depends on the details.

You'd be best to use a broker if he has adverse history.

cheryluk84

Thank you both. We do have a mortgage advisor coming tomorrow. His credit history is really good, it was only this one default as his ex racked up the debt in his name so he wasn’t aware of it at first. It’s all paid off now and he’s had a credit card and phone contract always paid on time and now in full...

On_my_way

The best thing to do is seriously save up as much as possible: clear any credit cards etc that either of you have, loans etc and put into savings as much as possible so that you are applying for a smaller mortgage.