2 Defaults and 1 CCJ- Mortgage Options?

digitalfire84

Hi there, first time poster so go easy on me!

I'm currently looking to buy a new home. I have bad credit due to me being wayward when I was a student.

I have 1 CCJ to the tune of £1800. This has been satisfied. It is currently 3 years 9 months old.

My 1st default (not settled) for £205 and it's 5 years 4 months old. The 2nd default is for £82 (settled) and it's 4 years 9 months old.

I've spent the last couple of years sorting my credit file out. I've no missed payments of late and I paid off the CCJ. I have a credit score of 835 (Fair) now with Experian.

I have £90,000 to put down on a property worth £280,000. I earn £35,000 whilst my partner earns £21,000 (excellent credit record). My dad could be a guarantoor for a mortgage as he has worked and saved hard.

How likely am I to be accepted for a sub-prime mortgage? I believe my credit history could be a massive stumbling block, whereas my deposit and our combined wages would work in our favour. What rates would I be looking at?

Thank you for any forthcoming advice.

ACG

This should be possible as you say you have a good deposit and wages support the mortgage.
It would probably be a good idea to go and see a broker about this though as high street banks are unlikely to be any use.

Dave_Ham

I agree, I would fancy this on standard rates although as ACG says unlikely to be on highstreet.

Placing this on traditional sub prime rates and with sub prime lenders is likely to be the lazy broker route.

I know how close it is to the 6 years period, although settling the other default will be expected by many lenders.