Mortgage issues

[pifpufpooff]

My partner and i are thinking of applying for a mortgage soon. Although his cedit history is perfect, mine is a little shady. Whilst as a student 5 years ago i stupidly got a credit card that i didnt pay off. its only �500 and i can pay it off now, but what i'd like to know is what actual difference would it make to a mortgage lender if i satisfied this debt 5 years too late? would they still think "she's a dodgy one" and not give us much or would it really help my chances?

Thx

[Eeeek]

Given the time lapse i dont think it would make a huge difference whether you pay it off now or not. I would suggest that wou get a copy of your credit file and check that its definately registered otherwise you might be worrying about nothing. It will also put your mind at rest that the rest of your credit history is clean. If thats the case I would reckon you have a pretty good chance of getting your mortgage. Good Luck.

[themas]

If it is on your credit record as unpaid it could affect your mortgage application, or lead to a higher interest rate being demanded. If it is there, and you now pay it off, the debt will show on the record as satisfied and that might help - but get your cerdit record again a couple of months after paying it to make sure it has been altered.