Desperate for mortgage but have failed credit check, can you help!?

leedjmeldrum

My partner and I are looing to take out a joint mortgage on a property with a 52% share equalling £130,000. The market value is £250,000. This would be a shared equity, new build property through an affordable housing scheme in Scotland.

We were successfully choosen by our local council but are now struggling to get a mortgage after being declined twice by Halifax.

After being advised by Halifax to view our credit reports it then became clear that my partner and I were on the electoral roll at our previous address, we then changed that (although the changes will not take effect until september). To make things worse, I have a default from 2006 with natwest. My partners credit score was good other than not being on the electoral roll. My score was also good (900 out of 999 on experian) but obviously not good enough.

We are completely clueless as to what to do now, where to go from here and need advice as to where we stand. Is it possible to still get a mortgage given the circumstances? We really don't want to miss out on this property and are willing to do whatever we have to in order to get this house.

Hope someone can help!

Lee and Rebecca

Sepa74

Hi guys,

Really sorry to hear you're struggling to get a mortgage. I'm afraid I have no idea where to go from here, other than to talk to a mortgage broker rather than direct to a bank. Mortgage brokers have access to a much wider range of mortgages because the can access what's available at all the banks. I got my mortgage through my financial advisor and got a brilliant deal.

Other than that, I'm afraid I know nothing about credit scores and how to improve them quickly! I wish you the best of luck finding your mortgage and buying your new house, though.

Lois_E

You might find people who can advise you in more detail on the mortgages board (link). This board is aimed at people who are trying to get rid of their mortgages!

Good luck.