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Mortgage with old default

Hi,

I am looking for advice on buying a home. I have 2 defaults from 2007 totaling £5000 from when i was a student. I am not asked or threatened about these anymore but they show up on my credit report. I have been perfect for 3 years and rented privatly for 5 years and never missed rent payment. We have a 20% deposit on a £60000 home, I earn £36000 and partner £20000,
Is there anybody that would consider us for a mortgage? if so are there any companies that could be recommeded.

Thanks in advance.
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Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Unsettled defaults may well impact your application. Non payment of £5k of debt would be viewed very seriously.
  • Jimby509
    Jimby509 Posts: 118 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    The defaults will drop off you file in 2013 anyway. Keep saving and apply for a morgage when the defaults no longer show.

    Sure lenders will be more favourable without them on your CR.
  • Is there any sub-prime mortgages available? We would be willing to pay higher interest if it meant getting on property ladder
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    Hi there,

    I would be pretty confident of a solution here and not necessarily at higher interest rates.

    Good deposit and income, with it being historic adverse.

    I would suggest you obtain your statutory credit files; Experian, Equifax and Call Credit and put them in front of a mortgage broker.

    I would suggest the better the broker, the better the rates.

    All the best
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • lvm
    lvm Posts: 1,544 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I am in the exact same position as you OP! Defaults from 2007 with decent savings/salary.

    I was hoping on a house purchase this year but think much safer to wait until defaults cleared.

    Aren't house prices predicted to fall slightly over the next year anyway?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    martin1988 wrote: »
    Is there any sub-prime mortgages available? We would be willing to pay higher interest if it meant getting on property ladder

    Maybe worth checking that a CCJ wasn't issued against you. The lack of contact suggests you moved on without leaving a forwarding address.
  • Thrugelmir wrote: »
    Maybe worth checking that a CCJ wasn't issued against you. The lack of contact suggests you moved on without leaving a forwarding address.


    This would show up on my credit file, it is not there,
  • Dave_Ham wrote: »
    Hi there,

    I would be pretty confident of a solution here and not necessarily at higher interest rates.

    Good deposit and income, with it being historic adverse.

    I would suggest you obtain your statutory credit files; Experian, Equifax and Call Credit and put them in front of a mortgage broker.

    I would suggest the better the broker, the better the rates.

    Thanks mate, I have been told this before but wanted diffrent opinions, is there anywhere to compare brokers? can anybody recomend on that suits my circumstance?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    martin1988 wrote: »
    This would show up on my credit file, it is not there,

    Have you checked all the credit agencies plus the court register?
  • Thrugelmir wrote: »
    Have you checked all the credit agencies plus the court register?


    nothing on experian or equifax, where do you check court reg?
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