First time buyer help

Danny8t6

Hi people just looking for some tips or help without going into my full life story.

I never applied for any credit before I was 21 this all started with my ex girlfriend who wanted phones, loans you name it (my fault for letting it happen) she ran me up a few debts and went on to cheat (bla bla bla) I went onto having major depression and gave up on life and like an idiot I forgave her. Tried to pay everything and was slowly getting my credit history on track fast forward and she went on to do the same thing but this time I was on benefits but still suffering with depression. Over time I got left with her student finance debt from universal credit because I was the main account holder while she started a fresh life with her new partner and again I gave up on life.

12 yrs I went through that pain and lost 2 kids in the process but I met my partner now who I've been with for just over 3 yrs and now have a beautiful daughter with her. Problem I'm having now which is what I'm actually here for and not to embarrass myself with telling my life story lol. Anyways my girlfriend has been working since she was 16 she's 31 now and never been out of work and has worked her way up to a manager and has never been in any debt and wants to apply for a mortgage with me and I have been afraid to do so because of my ex and because it was my fault for allowing that to happen. I have 1 default left on my account that's almost 5 yrs old and I had a ccj that went of my account 6 months ago. Most debts was paid of with the support from my girlfriend telling me what's done is done and just pay it regardless if my ex owes it. (Paid out of my money not my girlfriends btw) I have been in a stable job for 3 yrs now but recently gone for a new job which was better pay. I have 2 credit cards, a currys account, a dfs sofa account, car finance and a mobile phone all in my name. Everything is always paid in full and on time and even though I can trust my girlfriend 1000% as clearly she's more financially matured then I've been but still can't help but worry because it's been hard sorting my finances out and to turn my life around when it comes to credit.

I apologise for the long story but given what I've mentioned would I have a chance of being accepted on a mortgage with my girlfriend with 1 default left? My life really has turned around but I'm afraid mortgage lenders wouldn't care and would look into my past or if I did get a mortgage it would be a stupidly high interest one which is not what my girlfriend or I want.

Any advice please?

Thank you

london21

A broker should be able to assist you.

You will need to disclose everything to them, and they can help with application etc.

Interest rates are currently high, do make sure buying now is the right thing for you and your partner and that it will be affordable. 

K_S

@danny8t6 Hopefully I haven't missed anything else relevant - one 4+ year old default, one CCJ which is more than 6 years old (so no longer relevant for the vast majority of lenders), no other issues on credit report.

Based only on the limited info above, you should have access to mainstream (or close enough) rates, (either with a mainstream lender or an off high-street lender) and almost certainly no need to worry about 'stupidly high interest' rates. The lower the LTV, the better your options.

How much you can potentially borrow will depend on affordability (as per different lenders) - income, debt, other outgoings etc.

ACG

You might be surprised at how common your situation is (although admittedly it is usually men getting their gf's to take the credit cards out rather than women). You might also be surprised at how many people have bad credit, it ranges from people on minimum wage through to people on 6 figure incomes! 

Speak to a broker, you will be fine. As you have said in your post, whats done is done. 

Danny8t6

Thanks guys we are waiting until middle of next year to see if the rates will drop and in the mean time we'll keep saving for a bigger deposit.