Declined for First Buy Mortgage

Posted on 17 February 2012 by Deborah


Hi we have just been declined for a mortgage based on the FirstBy scheme. I have a credit score of 876 with a satisfied default from about 2007 over £230. My husband's score is 662 and he is an admin nightmare and often misses payments. We have also found out there is a judgement on his credit file for £400 that we knew nothing about. Can anyone help us?

Deborah

I do not think any Lenders are going to consider you for a mortgage until your Credit Files have been sorted out and you both have at least a 12 month history of making payments as they fall due.

I suggest that you speak to either Citizens Advice Bureaux or the Consumer Credit Counselling Service.  Both these organisations offer free credit advice and will help you check your credit records and guide you if you need to challenge any entries you believe are incorrect.

They will also help you budget, but ultimately it is down to you and your husband to ensure payments are made on time.

Peter

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