How does your credit rating affect getting a mortgage?

My husband already has a mortgage and although his isnt great its better than mine, I have a very poor credit score with a ccj and a few defaults. I f we were to apply for a joint mortgage how would this affect the result?How does your credit rating affect getting a mortgage?
If you've got very poor credit, chances are you won't be approved. If you do, it will be with very unfavorable terms, high rate, etc.How does your credit rating affect getting a mortgage?
Because your questions is incomplete no one can really give you any sound advice without minimally the following questions answered;





Why do you want a new mortgage?





Why is his credit not great?





Will it be for a primary residence?





Has his present mortgage payments been on time for the past 12 months?





What type of mortgage does he have now?





Can you prove your income?
Emmas is right you will need 20% down.





Also with 20% you will avoid that nasty PMI, which can cost thousands a year that is not tax deductible, and does not apply towards principal or interest.





If you are buying a home you want it under both of your names. If he finds a ho 10 years down the road it will be easier to say the home is 1/2 yours.


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I think you have put at least 20% down now, so even you have a credit rating you still have put down 20% of property's value as the banks aren't lending! Thanks to their monumental stupidity in causing this financial fiasco!





Good luckxx
don,t ------ keep as you are,high premiums,and probably would get turned down straight away.