Hi everyone,
I wondered if someone could help? My partner and I are hoping to buy a property within the next year. Ideally we would like to find (hmm) a 95% mortgage but failing that we may be able to take advantage of the new Lloyds Kick Start mortgage (parent puts 10% in savings account with Lloyds, we front up 5%).
I have an excellent credit rating. I've had lots of well-managed debt over the past 15 years and never, ever missed a payment etc. My credit file from Experian is clean, has no issues etc. However, my partner is a different story. He has struggled with debt in the past 10 years, has missed loan payments, and has a default from a mobile phone company from 4 years ago. Ideally, we would like a joint mortgage so that the lender would take both our salaries into consideration. My question is this - would be be refused a mortgage due to one of the applicants having a poor credit history? Even if mine is spotless?
Thanks so much for reading.
K.
I wondered if someone could help? My partner and I are hoping to buy a property within the next year. Ideally we would like to find (hmm) a 95% mortgage but failing that we may be able to take advantage of the new Lloyds Kick Start mortgage (parent puts 10% in savings account with Lloyds, we front up 5%).
I have an excellent credit rating. I've had lots of well-managed debt over the past 15 years and never, ever missed a payment etc. My credit file from Experian is clean, has no issues etc. However, my partner is a different story. He has struggled with debt in the past 10 years, has missed loan payments, and has a default from a mobile phone company from 4 years ago. Ideally, we would like a joint mortgage so that the lender would take both our salaries into consideration. My question is this - would be be refused a mortgage due to one of the applicants having a poor credit history? Even if mine is spotless?
Thanks so much for reading.
K.