Mortgage with bad credit history

louisebr12

My boyfriend and I are looking to buying our first house in 18-24 months. The problem is I have a number of late credit card payments from 2017/2018 (I was stupid and didn't realise the effect it would have at 21). I have since worked hard to clear my credit card debt and have managed to get this down from 15k to 8k in a year and hope to reduce this entirely by the time we come to buy. I am conscious however the missed payments will still be on my report in a year or two although they will be 4 years old by that stage. I have rented for 5 years and always paid on time. My partner has no debt and an excellent credit score with no problems whatsoever. He earns approx 38k plus 7k war pension having been medically discharged through an injury and I now earn 34k (am hoping to be on 41k by the time we come around to buy) we are both in the Civil Service in 'safe' jobs. Will the late payments from 2017/2018 be a problem come 2021 even if I have paid of my cc and improved my score?

jamielutz1987

@louisebr12 The specifics of the late payments may matter, but generally speaking, a few 4+ year old late payments on non-mortgage debt should not stop you from accessing mainstream rates.

Shelley_SJFS

Hi Louise, looking at some of the lenders criteria on late payments/credit issues, I think you will be okay, however i would suggest you get yourself a good whole of market mortgage broker who can match your situation to the lenders criteria.