Chances of getting a mortgage with a default on credit file?

[Deleted User]

Just a hypothetical question, based on my possible financial circumstances in a years time:

Suppose I had £12k for a deposit, £15k in credit card debt, and a couple of defaults from the previous year, what would be my chances of getting a mortgage?

My wife is working now (we've been managing on my income for some time now, and intend to continue doing so) and we need to decide if it's better for her to save for a deposit, or to help me clear my debts.

Obviously if the defaults on my credit file would be a showstopper however big a deposit we can raise, then we'll have to wait until they're six years old and drop off my credit file.

sruben

It depends how much the default is for and what it is for. We have just been offered a mortgage and I have two defaults on my account however they are 5 years old and not very large and they are settled, my OH already has a mortgage in his name.