Mortgage application with poor credit history.

H

Hannah h

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Hi all,

I would appreciate anyone's opinion on our chances of securing a new mortgage. I lost my job in 2012 and had some issues with a mortgage that is now resolved and the property sold. That property was in my own name. My ppr is in my husbands own name and we have 150k equity in same now.

We would like to move to a location closer to home and would require a mortgage of 250k, we would be selling our home and using the 150k towards new property. Based on income we would qualify for 400k mortgage but obviously our main concern is my credit history and I was unsure if any bank would consider lending now that our situation is much better and has been for 3 years or is it a simple and straight forward NO for five years?

Thanks for any advice/comments.
 
You can show you lost your job, by its nature that creates pressure.
You can show you resolved that issue .
You can show you have worked through to good position now.
You have good equity to put in.
You have clean sheet for 3 years.

Its not a staightforward NO , but you need to have documented answers ready.

Ask the Bank .
 
Take a look at your credit history with the ICB. If your previous problems are not evident on this then you should have no issues in obtaining a joint mortgage.
 
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