adverse credit mortgages

rubycurls

Hi

I really need some realistic advice about the possibility of getting a mortgage. I have a property to sell that is worth £125K and an outstanding mortgage of £95K. The only other credit we have are a couple of credit cards each, with £3K culmulative debt. I want to buy a new house for about £165K. My income is £24K and my husband earns £22500. We both have low credit scores but no ccjs. I have checked my credit file and there have been a couple of late payments on a credit card and a default of £139 for t mobile 2 and a half years ago, which I refused to pay as I disputed the bill. I am unsure of my hubbys but I know he has better luck than me getting credit so I assume his must be slightly better. Has anyone recently gotten a mortgage under similar circumstances to me? I am thinking of using a broker but am perplexed by the sheer volume and am worried that using the wrong one could result in no mortgage and lots of searches on my credit file! I am feeling rather low about the prospet of attaining a new mortgage but really need to move before Christmas.
Thanks so much for reading this and any advice would be greatly appreciated.

Matt1982

Potentially on what you said but depends on what LTV you require and many other factors. But based on the above I wouldnt say its a definite no.

herbiesjp

Sounds like it may be ok with a couple of high street lenders.

You should really get copies of your credit file as a good broker would want to see this before approaching any lenders.

Indeed purchase price and deposit available will be extremely important, and will determine how many lenders would be available to you along with what kind of rates.

becca0417

Ring a few brokers and see what there reactions are. We are in similar situation (1 default) and I got a broker by working out whether they would actually research it for us or whether they would just jump in and go for anything, which isn't good! Our broker was fab, rang 4 lenders before getting us an AiP which meant we didn't waste time and our precious credit scores on stupid lenders.
Hope this helps