Credit file concerns and applying for a mortgage

[chml]

Morning all,

Currently live with my partner who took out a mortgage (in her name) for a house last year. Grand plan is that in another 2-3 years we will be buying a place together however my credit score isn't great and I have a thin profile at the moment with some blemishes on there from 4-5 years ago as well as a couple of payday loans in the last 12 months. Is 2 years enough time to build and repair my credit score/profile to be able to get a mortgage do you know?

Thanks.

[Sarnie]

chml said:

Morning all,

Currently live with my partner who took out a mortgage (in her name) for a house last year. Grand plan is that in another 2-3 years we will be buying a place together however my credit score isn't great and I have a thin profile at the moment with some blemishes on there from 4-5 years ago as well as a couple of payday loans in the last 12 months. Is 2 years enough time to build and repair my credit score/profile to be able to get a mortgage do you know?

Thanks.

The blemishes will have dropped off after 6 years and you really want to avoid pay day loans where possible, some lenders do auto decline cases where they can see recent pay day loans, it looks like you are living beyond your means......whether thats the case or not......but if you've had none in the last 2-3 years when you come to apply you should fine as long as the recent history is clean.....

[chml]

Sarnie said:

The blemishes will have dropped off after 6 years and you really want to avoid pay day loans where possible, some lenders do auto decline cases where they can see recent pay day loans, it looks like you are living beyond your means......whether thats the case or not......but if you've had none in the last 2-3 years when you come to apply you should fine as long as the recent history is clean.....

Thanks for the quick response Sarnie, much appreciated.