ftb and got bad credit

fkelanne

hiya all, we have done our credit check and it says my partner has a default on his. so we can get the mortgage we want the adviser has said we still can get a mortgage but at a higher rate and1 no any mortgage companys that my consider him for a mortgage?
JUST SO I CAN SEE HOW MUCH ABOUTS IT GOIN TO COST AND HOW MUCH WE CAN AFFORD. THANKS

sarkin

Do you have a deposit and what is your joint income. Most lenders will ignore the odd default. Do you have any CCJ's

herbiesjp

What lender has he/she recommeneded? WHat is the rate?

Some lenders may wel indeed ignore "little" credit problems in the past.

It all depends on the figures you are looking at, and your current scenario

HTH

fkelanne

hiya it just goin in my boyfreinds name his is on 25k a year. The mortgage man tryed northen rock and bm soulutions, his has only 1 default and it for a phone he didnt pay for 3 years ago for £170 and no he doesnt have any ccjs

jamief

Northern Rock are one of the lenders (in my experience) who will reject almost everyone who has the slightest hint of credit problems. You will obviously be more attractive to potential lenders with a deposit, and what about doing it in joint names? THat way you won't be as much of a risk to them.

luckyfool

I'm assuming your adviser has tried BM Solutions and Northern Rock for their 100%+ Products, Together and Mortgage Plus. You are going to struggle with that default, especially if it has not been paid off, to get a 100% mortgage from a high street lender.

A 5 % deposit will certainly give you a better chance and someone like C&G may be willing to look at it. Failing that Adverse Credit deals would be available @ 100% (but very expensively) from Future Mortgages and First National. More reasonable products would be available from a wider number of lenders at 95% or below.