Out of curiosity

[Emma&Freya]

Me and my Oh are getting a mortgage but my credit rating is poor because of bloody 20 quid grr!!

My question is, could my dad go on the mortgage?

He is in his late 40's and owns his own house now?

 

[Perfect_pink]

Could you oh not take the mortgage alone but you still be on deeds etc, we have just had a meeting with a financial advisor and as i have a bit of a poor credit rating they put it all in oh's name but with my income too so the value of the loan didnt go down x

 

[Emma&Freya]

We were doing that, but Dads nervous about lending us the money

 

[missk1989]

The bank would probably judge that your dad is too old depending on how long your take the mortgage over. If he would retire before the loan was paid back then they probably wont do it.

 

[LynseyPynsey]

OHs dad took our mortgage out for us and we pay him monthly however as he's in his fifties they'd only give us a 12.5yr mortgage so our repayments are significantly higher

 

[Caite]

My mum got a mortgage when she was early 50s, it was only about 30%, and with my sister who was 18 or 19 at the time. It was for 25 years, I think. Mum'll definitely be retired by the time it's due to be paid off

 

[Emma&Freya]

My OH spoke to mortgage advisor and they said he can go on it but the repayments will be higher

 

[QueenMummyToBe]

Could you not get in touch with who you owed the 20 quid and ask them to
update your credit report?

xx

 

[Bex84]

I would say go to a morgage broker, they look at your credit rating and tell you where you will get accepted and you do mortgage through them and you dont pay them anything. Most estate agents have mortgage broker work there as well.

 

[Jaysmummy]

Can you not pay the £20 to improve your credit account and settle the debt?

 

[LynseyPynsey]

The debt will still be on her file for 6yrs regardless of if it's been settled