Mortgage with defaults needed

leelnj

Looking for a mortgage broker or mortgage company who will offer a mortgage with bad credit. got 4 defaults totalling £10k in 2008-2009 which were settled in 2010. Want a mortgage for £190k and earn £50k and have been in job for 7 years. Got 50k deposit if needed but would like to put down 15 or 20% if possible.

Thanks in advance

ACG

Pretty high defaults but i imagine this should be possible, you have a decent deposit, they were a while back and your income seems fine.
If you get in contact with a mortgage broker i'd be confident they could get you a mortgage.

leelnj

thanks for that info but was looking for recommendations of mortgage advisors names or mortgage companies who could facilitate this

GMS

Do you want to buy a place for 190k or borrow 190k?

ACG

The advisors on here arnt able to recommend actual lenders as we dont know enough about you.

I used to be an account manager at a life office though, i know a few brokers around the country i might be able to suggest some, it may also be that one of the brokers on this site might be local to you.

leelnj

want to spend 190k including deposit. Not borrow £190k. What more dou you need to know to recommend a lender ?

ACG

Its not something that can be done on a forum, my fact find i go through with clients is about 15 pages long.

GMS

leelnj wrote: »

want to spend 190k including deposit. Not borrow £190k. What more dou you need to know to recommend a lender ?

You need to speak to a broker. Recommending lenders without a fact find would be unfair and unprofessional.

With a decent deposit and the defaults satisfied there may well be a solution.

Don't apply at random to lenders. You will not get the best rates in the market. Finding the right lender is the important part.

Get copies of your credit file from Experian, Equifax and Call Credit and get them to a broker

Dave_Ham

The chaps are spot on.

Subject to the details, I would think this will be a relatively easy case for a sensible broker.

You should not pay a huge premium in rates, nor will you need more than a 20% deposit. If your chosen broker comes back with a rate beginning with 5 or 6%, would suggest you speak with another.

All the best

leelnj

Thanks guys understand all of this so thats why i stated "Looking for a mortgage broker". Alot of good mortgage brokers come from personal recommendation so wanted to see if any could advise a broker who specialises in these cases

ACG

Where are you based? It might help people to make a recommendation.