This is more about hopeful reassurance than anything, as I'm always a little nervous when it comes to money.
I'm in the process of buying a flat as a first time buyer. I've got an agreement in principle from the Coventry BS, and have had an offer accepted on the property I want at £10k less than the AiP was for. I have a deposit of just under 20%.
I'm about to put through the actual application. I've taken a look at my credit report from Equifax, and there's no problems showing up on there - the only thing showing up as not in the 'good' or 'excellent' range is that I've only been renting my current place for two years.
I do have some credit card debts, but no late payments showing and have been on and lowered my credit limit on the card that had a very high one, so that I have much less available credit. All of the credit card debts were obviously put through when the AiP was applied for.
I have been living in my overdraft for a while. However, I've just paid this off fully.
The deposit is coming as a gift from my parents.
Is there anything else that you could suggest I ought to do now to try to maximise my chances of the mortgage being approved? Is there anything that you can see that is likely to stop it being approved? I'm hopeful, but never really believe that I can do these kind of things, and so any advice would be appreciated!
I'm in the process of buying a flat as a first time buyer. I've got an agreement in principle from the Coventry BS, and have had an offer accepted on the property I want at £10k less than the AiP was for. I have a deposit of just under 20%.
I'm about to put through the actual application. I've taken a look at my credit report from Equifax, and there's no problems showing up on there - the only thing showing up as not in the 'good' or 'excellent' range is that I've only been renting my current place for two years.
I do have some credit card debts, but no late payments showing and have been on and lowered my credit limit on the card that had a very high one, so that I have much less available credit. All of the credit card debts were obviously put through when the AiP was applied for.
I have been living in my overdraft for a while. However, I've just paid this off fully.
The deposit is coming as a gift from my parents.
Is there anything else that you could suggest I ought to do now to try to maximise my chances of the mortgage being approved? Is there anything that you can see that is likely to stop it being approved? I'm hopeful, but never really believe that I can do these kind of things, and so any advice would be appreciated!