Help please - Missed payments & getting a mortgage

wilkoflower

Hi, 
Advise needed please, I have £35k debt in credit card which I am paying off in September when my partner sells his property. I unfortunately have missed payments on these credit cards and cannot afford to make the minimum payments in the next couple of months. My partners credit score is good but mine is very bad due to missed payments and been over credit card limits on all cards. 
Once I have paid off the credit cards off, will I have a chance of getting a mortgage this year?
Looking at property value of approx. £350k and have a deposit of £110/120k
Thanks!

dimbo61

Sounds like your partner has £110/120K of equity in the property they own after clearing your debts ?
However your credit score/history sounds really bad.
Maybe they can get a mortgage for the property you both want to live in. 

foxy-stoat

With a LTV of less than 70% I would think you both should be able to get a mortgage - rates wont be the cheapest though.  Speak to a broker with your credit report to see how many missed payments you have.  If too many you may need to wait for 2 or 3 years for you to get some space between mortgage and the last missed payment.

haras_n0sirrah

Realistically you are going to need at least 3 months between last missed payment and a mortgage application - rates will still be high
For rates heading more towards normal expect it to be 12 months

wilkoflower

Thank you all, what kind of rates would I be looking at?