I asked a similar question before but wondering based on the below what are the chances of being accepted for a mortgage?
I am looking to buy a new build family home 4-5 beds approx. £249,995
I am looking to buy it under the government new buy scheme. Ie. I put down a 5% deposit.
My Salary is £74000 a year with a non guaranteed 10% bonus, been working at same place for 13 years. Wife works casual hours earning between 300 - 1000 a month depending what hours she can get in term time (we probably wont use her salary to work out affordability; just mine). We have 3 dependant children (11, 6 and 4)
I have about £14k of CC Debt (No late Payments or CCJ etc.. (All Green) and is coming down.
My Credit Scores are:
Experian : 834 (Fair) Mainly due to above debt eg
The usage of your available credit indicates a higher risk - however payments are affordable and I don't use them anymore after closing all of the accounts so its only going down. (still active on credit history until balance is zero'ed)
Equifax : 819 Incorrectly low due to an account showing 2 late payments by 1 month.. 1 at start of BT contract and one at the end. I think it must be the way that account was handled on BT side when they opened and closed the account as always been a month in arrears as you are with mobile phones). I have disputed it
CallCredit: 867 No negative factors
I know its a dark art but any experts out there that can "estimate" my chances of success getting a mortgage based on this.
I am looking to buy a new build family home 4-5 beds approx. £249,995
I am looking to buy it under the government new buy scheme. Ie. I put down a 5% deposit.
My Salary is £74000 a year with a non guaranteed 10% bonus, been working at same place for 13 years. Wife works casual hours earning between 300 - 1000 a month depending what hours she can get in term time (we probably wont use her salary to work out affordability; just mine). We have 3 dependant children (11, 6 and 4)
I have about £14k of CC Debt (No late Payments or CCJ etc.. (All Green) and is coming down.
My Credit Scores are:
Experian : 834 (Fair) Mainly due to above debt eg
The usage of your available credit indicates a higher risk - however payments are affordable and I don't use them anymore after closing all of the accounts so its only going down. (still active on credit history until balance is zero'ed)
Equifax : 819 Incorrectly low due to an account showing 2 late payments by 1 month.. 1 at start of BT contract and one at the end. I think it must be the way that account was handled on BT side when they opened and closed the account as always been a month in arrears as you are with mobile phones). I have disputed it
CallCredit: 867 No negative factors
I know its a dark art but any experts out there that can "estimate" my chances of success getting a mortgage based on this.