Hello, Long time reader, First time poster...
The current situation is that I am looking for buy my first house. I have seen what I beleive to be the perfect place on the market for £124,995...
My question is as follows:
Can I get a mortgage? / What are my chances / options.
Deposit amount: £35,000
Salary: £19,500
Avg Bonus per month: £400 (avg over the last 12 months)
I currently only have an overdraft (£3,000 max - sitting at -£2,500), 2 x mobile phone contracts (£35 /month) - I have never been over my overdraft limit and never missed a payment on the phone contracts.
My credit score is rated as "very poor" (505 at credit expert), Im in the process of getting on the electoral role for my current address and have been registered at places in the past, and the only other negative thing on there is a late payment to British Gas (£129) which was late by 2 months and is settled. So not entirely sure why its rated so poorly?
I also beleive I am entitled to circa £400 a month in child tax credits and working tax credits which I am in the process of claiming (not sure if it can count towards a mortgage).
I have 1 dependant and my partner (who has no income - house wife)
I need to borrow £90,000, What are my options / chances etc etc.... Any and all advice would be appreciated.
Regards
-Levi
The current situation is that I am looking for buy my first house. I have seen what I beleive to be the perfect place on the market for £124,995...
My question is as follows:
Can I get a mortgage? / What are my chances / options.
Deposit amount: £35,000
Salary: £19,500
Avg Bonus per month: £400 (avg over the last 12 months)
I currently only have an overdraft (£3,000 max - sitting at -£2,500), 2 x mobile phone contracts (£35 /month) - I have never been over my overdraft limit and never missed a payment on the phone contracts.
My credit score is rated as "very poor" (505 at credit expert), Im in the process of getting on the electoral role for my current address and have been registered at places in the past, and the only other negative thing on there is a late payment to British Gas (£129) which was late by 2 months and is settled. So not entirely sure why its rated so poorly?
I also beleive I am entitled to circa £400 a month in child tax credits and working tax credits which I am in the process of claiming (not sure if it can count towards a mortgage).
I have 1 dependant and my partner (who has no income - house wife)
I need to borrow £90,000, What are my options / chances etc etc.... Any and all advice would be appreciated.
Regards
-Levi