We've had some late credit card payments. Can we still get a mortgage?

Posted on 22 September 2014 by Louise

My partner and I have a self certified mortgage interest only from 2008 and have paid on time every month for the last 6 years. Unfortunately the house needed a full renovation and even though now complete and ready to sell we have some late payments on catalogues and credit cards due to the amount of money gone into the project. The house is worth £180,000 and our current mortgage is £107,500. We are looking to buy a house for around £210,000-£220,000 so would need a mortgage of around £150,000. Our combined income is currently £37,000, we are both in permanent employment now and have been for the last 4 years. I'm hoping the deposit would be 25-30% of the house once house sold.


A lot will really depend on how many late payments you've had and how recently they were. If you are looking for a mortgage of around 70% of £220,000 with a combined income of £37,000 this shouldn't be too much of a stretch, but if the missed payments are very recent this is likely to adversely affect those lenders who work predominently on credit scoring.

We'd need to have a look at your up to date credit file before we could say anything further. If you'd like to discuss your options in more detail, then please contact one of our consultants on 0344 346 3672 and they'll be able to give you a clearer idea of how we can help.



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