Mortgage Chances?

Sus13

Hi all, newbie here.

Can anybody help?

Was wondering what the current chances were of me getting a mortgage.

Previously had mortgages but have lived in rented property now for 2 years. We've previously had bad credit but have got no outstanding debts at all now. However on our credit files my husband as a ccj from 2005 that was settled a month after receiving it for £2500k and I also have a settled ccj for 2007 for £350.

My husband earns £28K and I earn £20K. We have seen a property for £159k and have managed to save the £25k deposit around 15% so would require a 85% mortgage. Is there any lenders out there that would touch us?

Thanks in advance

GMS

Would suggest a 20% deposit would open more doors, although not impossible with 15%.

Speak to a 'Whole of Market' broker to get an idea of what may be available

Sus13

Thanks for the reply.

Can anybody advise of any whole of the market brokers in my area East Yorkshire or any that can be dealt with over the telephone.

Thanks in advance.

herbiesjp

Sus13 wrote: »

Hi all, newbie here.

Can anybody help?

Was wondering what the current chances were of me getting a mortgage.

Previously had mortgages but have lived in rented property now for 2 years. We've previously had bad credit but have got no outstanding debts at all now. However on our credit files my husband as a ccj from 2005 that was settled a month after receiving it for £2500k and I also have a settled ccj for 2007 for £350.

My husband earns £28K and I earn £20K. We have seen a property for £159k and have managed to save the £25k deposit around 15% so would require a 85% mortgage. Is there any lenders out there that would touch us?

Thanks in advance

Get copies of your credit files, if you haven't already.

WHat month was the 2005 default registered and how much was it for? They may be close to coming off your credit file.

The other default on its own, will still leave you with options open potentially.

Your income is fine, as long as you do not have huge debts outstanding.

So your best bet would be to get in contact with a good broker and make sure that you fit lending policy on all fronts, but also to make sure that any mortgage offered would be affordable not only now whilst rates are at record lows, but in the future when they will go up again.