About 4 and half years ago, my friend asked me to be a guarantor on a new mobile phone account. The company, Orange, started sending the bills to me and I realised they were in my name. I tried to change it but couldn't. Long story short, my friend didn't pay the bills and it was transferred to a debt collection agency. I ended up setting up a direct debit to clear the debt and my "friend" paid me back. But this has resulted in a mark on my credit profile, which is marked as "poor"' despite me having numerous other credit accounts and not a single problem in the past. The debt was settled 3 years ago.
My question is, myself and my partner - who has "good" credit profile - want to get a mortgage. What are the chances of this being possible? Is there any way we would be able to get a mortgage? If not a full mortgage, how about a shared ownership? We have saved £10,000 but haven't been to see a mortgage advisor yet.
Thanks for any help you can offer!
My question is, myself and my partner - who has "good" credit profile - want to get a mortgage. What are the chances of this being possible? Is there any way we would be able to get a mortgage? If not a full mortgage, how about a shared ownership? We have saved £10,000 but haven't been to see a mortgage advisor yet.
Thanks for any help you can offer!