Posted on 27 October 2014 by Carys
Hi, Myself and my partner are looking to buy our first property, it's for approximately £130k, we have a deposit of £10k currently. I have a poor credit score (477 on experian) but my partner has very good credit score. I have had two defaults one was written off my report as it was more than six years ago and one was in 2010, I have made a couple of late payments which have all been rectified and everything on my report over the past 2-3 years is 'satisfied' Will we still be able to get a mortgage or am I in a bad situation? We earn on average £40k a year combined and I've been employed with my company for six years, all bills are now paid up to date. I've recently been approved for an overdraft so I'm assuming that I'm looking more positive? I'm worried that I won't have the option of buying somewhere jointly with my partner because of historic events. I have bank statements and full credit reports to confirm everything. Thanks.
I'm afraid that at 90% loan to value, any previous adverse credit, including missed payments is likely to have a negative impact. I would recommend that you obtain a copy of your up to date credit report to see how that's looking. Depending on what's showing I would suggest that you speak to a more local building society as they may take a more sympathetic view of your case.
If you'd like to discuss your options in more detail, then you can contact one of our consultants on 0344 346 3672 and they'll be able to give you a clearer idea of how we may be able to help.
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