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  • FIRST POST
    • Yorks1990
    • By Yorks1990 16th Oct 16, 5:30 PM
    • 1Posts
    • 0Thanks
    Yorks1990
    Can we get a mortgage?
    • #1
    • 16th Oct 16, 5:30 PM
    Can we get a mortgage? 16th Oct 16 at 5:30 PM
    This is my first post. Im looking for some advice on whether it is worth us even applying for a mortgage in the near future.

    My husband has an excellent credit report with no missed payments etc. However I have 4 defaults that are almost 5 years old.

    We have a 15% deposit and want to borrow roughly 1.5 times out joint income.

    Is it possible?
Page 1
    • muhandis
    • By muhandis 16th Oct 16, 5:40 PM
    • 223 Posts
    • 82 Thanks
    muhandis
    • #2
    • 16th Oct 16, 5:40 PM
    • #2
    • 16th Oct 16, 5:40 PM
    With a 15% deposit and 1.5 times income, it should definitely be possible. A search on these boards will show many posters who have been offered mortgages with defaults more recent than yours.

    However the only person who will be able to tell which lenders might be suitable is a mortgage broker who has looked at your credit report and your personal financial circumstances in detail.

    Having said that, in your place I would aim to sit tight until the defaults drop off my credit report after 6 years and then think of getting a mortgage just so I can get a wide choice of lenders and thus a low rate.

    This is my first post. Im looking for some advice on whether it is worth us even applying for a mortgage in the near future.

    My husband has an excellent credit report with no missed payments etc. However I have 4 defaults that are almost 5 years old.

    We have a 15% deposit and want to borrow roughly 1.5 times out joint income.

    Is it possible?
    Originally posted by Yorks1990
    • amnblog
    • By amnblog 16th Oct 16, 6:12 PM
    • 8,850 Posts
    • 3,365 Thanks
    amnblog
    • #3
    • 16th Oct 16, 6:12 PM
    • #3
    • 16th Oct 16, 6:12 PM
    Yes, you should be able to obtain lending now, subject to other factors.

    Use a mortgage broker.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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