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Confused first time buyer!!

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  • 21-09-2011 8:17pm
    #1
    doledude86
    Registered Users Posts: 183 ✭✭


    This has probably been done so many times so i apologise in advance.

    Myself and my gf are looking to apply for a mortgage, I just have a few quick questions, ive had a savings direct debit for 3years and so has my gf we are very good savers, the only thing is when i was in college i maxed out my student credit card approx, I always paid the minimum due but never really cleared it that was three years ago and have had good credit since and havent any other loans, would that be a stumbling block???


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    #2
    Duckjob
    Registered Users Posts: 2,859 ✭✭✭Duckjob


    So you were servicing the debt at the max up until 3 yrs ago, when you cleared the debt entirely ? If that's the case, it won't count against your credit rating at all unless you actually missed or were late with payments.


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    #3
    doledude86
    Registered Users Posts: 183 ✭✭doledude86


    Paid off the debt eithin a month of getting a job, never had any correspondence about missing payments or anything and has i said its probably closer to 5years ago


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    #4
    Duckjob
    Registered Users Posts: 2,859 ✭✭✭Duckjob


    I'd guess that credit-history wise you're fine. Even if you missed a payment by a couple of days I don't think CC companies would move that quickly to register a judgement against you.

    I was kind of in a similar boat - 99% of the time I just pay off the entire balance but once or twice I forgot to make the payment and then got a reminder and cleared it straight-away. I applied for a mortgage and was fretting that this might come up but nothing was said and we got a loan offer. Lord knows, they might could well still find a way to pull the offer when I try to act on it, but at least the credit check doesn't seem to be a problem.


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