Late payments-mortgage chances??

[Sozza36]

Hi
So we are thinking of applying for our first mortgage, though I’m not holding out any hope that we will be approved for one.
Hubby is 43 and I’m 38.
We have £43,000 in the bank to go towards a deposit/fees etc
My husband was in a job for 12 years but left last year and is now working for an agency. He’s worked every week since since he left in November (except for our holiday in May-1week)
I’ve been in my job for nearly 13 years now.
Anyway I think this is a massive barrier, but I’ve looked at my credit score and it’s showing a red marker for a missed payment in Feb - it has a number 1 in the marker. It was only for £8 to Very and I paid it off in full a couple of days late. I also have 2 red number 1 markers for missed payments to Next 5 years ago.
Will these markers on my credit history stop us getting a mortgage?? I feel so annoyed with myself!! Especially for the £8 one in Feb 😫
Does anyone have any experience with this??

I don't have any experience but speak to a few mortgage brokers and see what they say

It’s not a massive barrier at all! You just need a good mortgage broker and to be completely honest with them. Then you won’t waste ‘chances’ applying for mortgages you won’t get. They’ll find you something.

It depends partly on what percentage of the purchase price that £43k is. The larger the percentage the more forgiving a bank will be. But as they’re small amounts I don’t think it will make a difference, though in those initial ‘get a decision in five minutes’ where a computer does the analysis by it may stumble. Go through a broker.

Speak to a mortgage broker. One that specialises in adverse credit if you can. To be honest they'll have seen worse credit histories I'm
Sure. Money saving expert forums have a mortgage/house buying forum that have a lot of people who can advise too. I used it loads when buying our house 2 years ago.

Definitely go to a broker. There are many lenders that will not consider those late payments as a problem and lenders that expect no late payments.

Your credit history isn't that bad at all and I don't think you'll have an issue as long as you go to the right lender first time.

Good luck!

You should have no issues getting a mortgage but you need a broker that will place it with the correct lender.

Your case is fairly straightforward compared to some that have still been placed with high street lenders.

My partners credit is much worse so we spoke to a broker and were told that the odd late payment in isolation isn't an issue, it's usually when there are a few. He has a CCJ to make matters worse so we were advised to wait a year once it's off and they will re-evaluate. They are extremely helpful and said there are lenders who will consider us even with his shocking credit so I'm sure you'll be fine with a bit of advice.