Q: An opinion would be greatly appreciated: j

I am a first time buyer to buy a house with my OH. I have a bad credit rating and default on my credit file. I have obtained my credit report and it is not as bad as I thought it might be different than what preceded it, shows that the bills I pay each month, but my rating is marked as bad and I have a standard. I belive that a credit score is defined by 1000, the mine is 613.?

My OH has an excellent rating and Im wondering if we will be accepted for a mortgage? We have a down payment, approximately ￡ 5000.00 on paper and what we are looking to borrow is affordable and even gives us a good amount of money every Mon Im afraid that because of the damage is included at my credit file, which will be held for 6 years goes to the lenders affect decision.

I belive that every lender has different criteria and I would not be rejected by one and then another mark on my credit file.

Any ideas?

Thank you in advance.

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A:Thank you for your advice. Glad things worked out for you. My default is showing as settled, it was for £2500.00 in 2005. Hopefully I will be lucky.

Thanks for your reply.

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A:I think you're best talking to an IFA, they will know which mortgage companies will be best for applying to.

We've just had a mortgage accepted and my husband is the one with terrible debts.

The bit we struggled with was affordability and the lender wanting 3 months bank statements. If you have credit cards, they work out the repayments on these cards for 5%, not the minimum, and take that away from your earnings.

The mortgage we applied for in the end only wanted 1 months worth of bank statements by which time I had taken control of my hubbys finances and there was no bounced direct debit to be seen.

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A:Same situation for myself. I have poor (ish) credit history.
One default, £400 odd about four years old and its satisfied.
My parnters history is fine. Were were accepted by Norhtern Rock and have been in our house for 7 months.
Good luck

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