Mortgage with Default!

leemuddywaters

Hi, myself and my wife are looking to apply for a mortgage soon, however I have a default on my credit report from four years ago - My wife however has an excellent credit rating, does anyone here have experience in getting a mortgage with a default registered against them??

Appreciate your help

Regards

_Andy_

Hi lee

How much deposit do you have saved up and what kind of property values are you thinking of?
Also how much was the default for and is it now satisfied?

leemuddywaters

Andy, we've a 5k Deposit at the moment - default was for £3500 and Im currently paying it off, so its a bit off being satisfied, we've a joint income of £40'000.

leemuddywaters

leemuddywaters wrote: »

Andy, we've a 5k Deposit at the moment - default was for £3500 and Im currently paying it off, so its a bit off being satisfied, we've a joint income of £40'000.

Sorry Andy, property value around £160k - £180k

_Andy_

At the moment you're way off the amount of deposit and savings you'd need I'm afraid.

leemuddywaters

Not trying to find out if we have enough of a deposit, but if its possible to still get a mortgage with a default registered.

_Andy_

Yes it is but it is dependent on deposit, hence me asking.

leemuddywaters

well what sort of deposit would be the minimum?