Advice please

getmefree

Hi everyone

Just after a bit of advice if possible.

I am looking for a mortgage at the moment but have a checkered credit history (two defaults almost 6 years ago that have balances still on). I have no other outgoings. I also earn a half decent wage (£30+k per year).

So, I was wondering if anyone could advise me of my likely chances of being approved. Or, if anyone knows of any companies that specialise in people in these circumstances.

Thanks in advance.

kingstreet

Your chances improve with every percent you have to put down as a deposit. At 40% deposit, I'd say a great chance, with 10% a difficult case is too close to call.

Independent broker would be your best port of call to get an idea of what you can get.

GMS

Do not start applying at random to lenders as the defaults will mean declines with many.

It is important to apply to the correct lender not just the cheapest. As kingstreet says speak to a broker