Mortgage with late payments

Digitalink

Hello

New to forum 

I would like advice / similar situation with others for some peace of mind

situation is as follows.

House currently on the market ( not sold ) ( x2 applicants ) 

This is be our 3rd move ( 1st mortgage - Barclays / 2nd Halifax /3rd Ported with Halifax ( current lender )

due to moving when the market was growing we have been lucky enough to make a good amount on each sale -   due to make another on current sale ( if sells for asking )

due to said above we have a lot of equity in house.

now, doing afew calculators / AIP online we can afford what property we want ( not made offer until we sell ) 

I will be putting down around £100,000 into new house and keeping other equity amount to pay for selling fees, stamp etc etc

all sounds lovely??? the problem I have now is I have LATE payments on CC and a washing machine - all dotted about ( about 7 in total ) last year. all payments up to date, no defaults, no ccjs just LATE payments that I paid a few days later but have come on credit score

( wife credit score is perfect - my score is good all over the sites but I do have late payments ) 

this was not down to be not affording it, it was down to a few personal reasons and just always seem to forget about them ( I know I should of set up a DD for them ) 

so my long winded question is... due to said about ( large deposit that would be around 70% LTV on the house we want ) 

could we still get a mortgage with say Halifax with a large deposit but we have the stupid late payments. will the bank be ok with late payments due to large deposit we will be putting down? 

also never missed a payment or in arrears or taken a mortgage holiday 

apart from CC and washing machine I have never since being a home owner missed payments on mortgage or anything else apart from last year due to personal problems 

total CC and washing machine is around £3500 that I am planning to pay off completely before mortgage application etc 

thank you 

Hoenir

Time heals a credit record. Likewise paying down and eventuall clearing your debts can only be positive. Don't over think matters. Keep your personal affairs in order and all should be ok.

ACG

You potentially can. But it will be subject to how your application scores. Difficult to say for sure, but no harm in trying. 

Digitalink

thank you for comments.

problem is I do over think. so its not a no but its not a yes? I do have a self employed mortgage advisor I have used in all my mortgage applications. I will not be doing it myself via branch. I have not had a meeting with advisor yet to explains these missed payments.

I find it absolutely insane that this can cause a problem when applying for a mortgage when I have large deposit and never missed a payment or struggled with mortgage payments all these years of being a home owner. 

would a possibility going down the route of a specialised lender? not the way I want to go as I know rates not the best. 

I would just wait for the right time too move but due to work moving this has to happen 

ACG

Its not a no, but its not a yes. 
Its basically, DIP it and see. 

If I thought you had no chance, I would say so. But there is a chance. 
Worst case scenario I dont think you would need a specialist lender, I think probably a building society. But Halifax can be quite flexible, you have a history with them and a good deposit - all things considered I would be reasonably confident. But I wouldnt want to say its a sure thing as its not. 

Hoenir

Digitalink said:

I find it absolutely insane that this can cause a problem when applying for a mortgage when I have large deposit and never missed a payment or struggled with mortgage payments all these years of being a home owner. 

Your credit history is black and white factual history of events.  Individual stories have no bearing. From the millions of mortgages underwritten the underlying data can be analysed and the risk assessed. Mortgage lenders operate at the macro level not the micro. It's a numbers game to them. 

RelievedSheff

Digitalink said:

I find it absolutely insane that this can cause a problem when applying for a mortgage when I have large deposit and never missed a payment or struggled with mortgage payments all these years of being a home owner. 

Put yourself in the shoes of a lender.

Would you rather lend to someone who has a clean credit history with no late or missed payments, or would you rather lend to someone with a history of paying late or missing payments?

You credit report is a factual document which details your repayment history on your credit commitments. The cleaner it is, the easier to get the credit you require.

Missed or late payments are a red flag to lenders.