so my mortgage chances are...... the shreksta

#1
as from my other thread where i mentioned about my credit history i have some more info on it all



here goes....



for the last 2 years there has been 0 late payments and 0 defaults,all my credit (loan/credit cards) all up to date with no finance applications in the past 6 months



in april 2014 there was 1 late payment on my natwest credit card where i forgot to set up my direct debit



in december 2014 there was a default registered against me from virgin media for the total of £205, it was paid instantly (for some reason on experian it shows as may 2015 but on equifax it shows as december 2014. also for virgin there is alot of late payments, i was coming off the back of a redundancy so paying my tv package was least of my concerns to be honest, roof over head and food took priority.



in 2012 there was 2 late payments (both showing a number 5) for eon- all other payments were up to date (only shows on noddle not experian)



in 2013 2 late payments for t-mobile, shows up on experian and not on anything else



and thats it, no ccj,no bankruptcy.



i have an AIP through my broker via halifax for my help to buy mortgage.



the house is a new build @ £240k, we need to borrow £180000, put down £12000 deposit and use £48000 from help to buy.



our combined wage is just over £45k per year with £12k of overtime as an extra for myself



my mrs credit history is perfect.



do we stand a good chance of getting the mortgage? as said above i have been squeaky clean for over 2 years with my payments.

#2
If you want to proceed with a small deposit, i.e. 5%, you need a fantastic credit report. You can complete the agreement in principle and find out but just based on what you've said I reckon you'll need a 10-15% deposit

#3
yeah he has done the affordability checks and the AIP and that went through ok. surely with me only needing a 75% mortgage with the help to buy scheme i wouldnt need to put down 10-15%

#4
Aren't you best discussing with your broker? If he/she already has an AIP in place for the amount you need to borrow then I'd say your chances are looking good so far? It will also help that you are putting down a 25% deposit (if using HTB scheme).

#5
yeah im probably getting worried over nothing but the more i search on the internet about failed mortgages due to defaults etc the more i worry myself.



i keep reading that the AIP is just a soft credit search then at the application stage they do a hard search which digs deeper



i have a meeting with him tomorrow.

#7
How did your meeting go? We are in a similar situation- AIP with Halifax, full application meeting booked in for Tuesday. My partner has 2 defaults in his account which are due to drop off next month, we were open and honest about this when we did our AIP with the MA in Halifax. Despite this he said our AIP credit search came back with an 'A1' credit score, which baffled us... Would love to know how you got on. Fingers crossed it went well for you.

#8
Its going to be the default which is going to be the issue, if there even is an issue.



We borrowed 95% and I had several missed payments on my credit report, Halifax didn't even mention them.



Late payments are one thing, people are not good with dates etc, it happens.



Defaults are another thing, it shows you intentionally decided not to pay for whatever reason.



Nobody on here can tell you what Halifax are going to say.

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