Bad credit history

C

casper

Registered User
Messages
25
Hi all,
My DP and i have been living together for 4.5 years. DP purchased a house under the Shared Ownership Scheme in his name only. I am a first time buyer. We are looking to trade up and need a mortgage but with DPs credit history we are wondering if we will get a mortgage at all or one with reasonable interest rates. DP has just applied to the Irish Credit Bureau to see how bad his credit rating is but from what he tells me, it was many years ago. Any advice greatly appreciated.
 
ICB only records problems for a maximum of 5 years from when they were sorted out in case that's relevant?
 
My best friend applied for a mortgage a couple of weeks ago. She was terrified that an old bad debt which was lodged with the ICB would come against her. To her delight, her broker did a credit check which came back clear. The bad loan was two years ago, she did eventually clear it but it was lodged on the ICB. What happened was: she has been paying car repayments for the last 12 months successfully. The broker explained that the good repayments cancaelled out the bad mark against her. So it doesn't take five years to have a bad loan taken off the ICB and she got the keys of her new home 6 weeks later.
 
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