Will we get a mortgage.

donnacraig1984

We have managed to save a deposit for a mortgage. Do we have any chance of getting a 95% mortgage against a £100k now. Some back ground - Partners Credit file is spotless, had 3 car loans, had a bank loan and 2 credit cards. She only has the car loan now, the rest are paid for. Me - 3 defaults all over 5 years old and settled, got 1 credit card from capital one pay and use monthly, sometimes min payment and full payment.
Any advice welcome.

Thanks Craig

TrickyDicky

95% mortgages are pretty thin on the ground and only given to people with spotless ratings.

I would keep on saving and pay off all the debts first, and ensure you clear your credit cards in full each month.

firstaspect

I haven't seen anyone offering more than a 90% mortgage recently and only then to those with a spotless credit rating.

brit1234

Being realistic you are going to need a bigger deposit in today climate, it will also protect you from negative equity. The higher the deposit the more options you get and the cheaper rates.