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Help for first time buyers

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  • Help for first time buyers

    Back story: me and my partner got an AIP for £200k a few weeks ago and are due to go in next week to apply for a mortgage with Halifax.
    His credit report has no late payments, ccj or anything bad and is a fair score. Mine is all fine except 4 late payments ranging from over 2 years - 4 years ago and I also have a £500 credit card that is fully paid off.
    We are looking to do a 15% mortgage of £25k on a property £170k.

    What are the chances of us being declined because of my history of late payments? Does anyone have experience in this?

  • #2
    I have just applied for a mortgage with my partner and we have had a series of late payments on our credit card because of a family situation, we have failed in our application. Late payments on your credit report stay on there for 6 years. Meaning that they will have a damaging effect on your mortgage application. Although some mortgage companies are more lenient than others. You must be careful with the more lenient ones because they maybe dodgy.