mortgage help

groovysuzie

Hi there

me and my husband have found a property that we love however i have a few historic issues with my credit file.
Although i have not applied for a mortgage yet but i really think that i will get rejected or be on some sort of sub prime mortgage.

The problems with my credit file are

1. default from 5.5 years ago;
2. missed credit cards payments from 2005/2006.

Despite this my credit score is satisfatory 860 and my husbands score is excellent.

Im really scared to apply for a mortgage incase i get rejected and it makes things worse. Does anyone know what lenders are more likely to accept us. We have 10% deposit

GMS

Some lenders will reject you due to the default, others will accept.

Ignore any credit score you have paid for. Unless the credit reference agency start lending money it is irrelevant.

Do not apply at random to lenders, you need to make sure any lender you apply to will accept the default and missed payments.

How much are you looking to borrow?
How much deposit do you have?

groovysuzie

Hi GSM

Thanks for your reply, looking to borrow approx £120k and we have 10& deposit

GMS

A 90% loan will be strict on credit scoring.

Speak to the lenders first, or use a broker.

Crashandburn

Santander have been good with old historic stuff recently. I know they were pushing for a lot of business in Q1/2 and have a relaxed credit scoring.

Seen CCJ & Defaults being accepted albeit 4-5 years ago

TMoose

Crashandburn wrote: »

Santander have been good with old historic stuff recently. I know they were pushing for a lot of business in Q1/2 and have a relaxed credit scoring.

Seen CCJ & Defaults being accepted albeit 4-5 years ago

I agree with this. We've just had an 85% mortgage accepted with me having a 6yr 2day default...

kford224

I agree to try Santander - we are due to exchange any day now and even though both mine and my fiances ratings on Experian were "Very Poor" (Gawd knows why?!) We have got a mortgage with them no problem and they have also been very quick!!

groovysuzie

thanks for your responses guys, feeling a bit more assuree. i spoke to the morgage advisor at santander today and we are going to apply for agreement in principle and see what happens fingers crossed!