Hi there,
Myself and my wife are hoping to get on the property ladder this year.
We had a mortgage in principle approved with HSBC on Friday so we are now looking at houses around the £170k mark with a 90% LTV.
I earn 30,500 a year with a £5k bonus (if I hit my target) as well as a company car with private fuel allowance. The BIK is around £7k.
My wife earns 26,500 and then possibly another £2k for shift allowances etc.
My concern is although we passed the initial 'soft search' credit check I have 3 late payments on a credit card, which is now settled. The late payments were roughly 5 and a half years ago.
I've read that HSBC's lending criteria is very stringent at the moment and I suppose I am asking what the likelihood is of passing the full check once we have found a property?
Anyone with similar experiences who successfully secured a HSBC mortgage ?
Myself and my wife are hoping to get on the property ladder this year.
We had a mortgage in principle approved with HSBC on Friday so we are now looking at houses around the £170k mark with a 90% LTV.
I earn 30,500 a year with a £5k bonus (if I hit my target) as well as a company car with private fuel allowance. The BIK is around £7k.
My wife earns 26,500 and then possibly another £2k for shift allowances etc.
My concern is although we passed the initial 'soft search' credit check I have 3 late payments on a credit card, which is now settled. The late payments were roughly 5 and a half years ago.
I've read that HSBC's lending criteria is very stringent at the moment and I suppose I am asking what the likelihood is of passing the full check once we have found a property?
Anyone with similar experiences who successfully secured a HSBC mortgage ?