Hi there,
My partner and I signed up to the Nationwide SaveToBuy scheme last year, whereby we can apply for a 95% mortgage if we save with them for over 6 months.
We are both complete novices when it comes to mortgage applications, so I was wondering if anyone could advise us.
We have a joint income of £45,000 and are looking to get a mortgage in the region of £123,500, putting down a deposit of £6500, totaling £130,000.
We've both looked at our respective credit reports, and they seem to be fair/good, although I personally have had some issues with late payments on my credit card, from when I was a student 3 years ago. They weren't consecutive late payments, so I don't think there is an actual default on my credit history (please correct me if I'm wrong).
My partner's is pretty clean, so there shouldn't be any problems there.
Ideally drawing on past experience, would anyone be able to tell us if they think we have a good chance of securing this mortgage this coming summer?
Many thanks in advance!
My partner and I signed up to the Nationwide SaveToBuy scheme last year, whereby we can apply for a 95% mortgage if we save with them for over 6 months.
We are both complete novices when it comes to mortgage applications, so I was wondering if anyone could advise us.
We have a joint income of £45,000 and are looking to get a mortgage in the region of £123,500, putting down a deposit of £6500, totaling £130,000.
We've both looked at our respective credit reports, and they seem to be fair/good, although I personally have had some issues with late payments on my credit card, from when I was a student 3 years ago. They weren't consecutive late payments, so I don't think there is an actual default on my credit history (please correct me if I'm wrong).
My partner's is pretty clean, so there shouldn't be any problems there.
Ideally drawing on past experience, would anyone be able to tell us if they think we have a good chance of securing this mortgage this coming summer?
Many thanks in advance!