Mortgages - Bad Credit History, is it possible?

chr15hoops

Hi,

Myself and my partner have a adverse credit history, at the end of this month we will have cleared around £6000 worth of debts (Mainly missed payments, store cards and a single CCJ from my university days!!)

We are wanting to purchase a property. We both work with a combined income of £45,000 pa.

Are we likely to be able to get a mortgage? Does anybody have advice on what steps we should take, and who we should speak too?

We have savings of £5000 which could be used for a deposit.

My fear is that lenders (high street banks) will simply use credit scoring and base there decision on past behaviour and not look at our current financial situation which is quite positive.

Thanks:wave:

Dave_Ham

When was the CCJ registered and for how much?

What purchase price are you looking at?

I fear your deposit will not be enough, you are highly likely to need 15% and may get away with 10% dependent on the above.

Worth getting both of your Experian, Equifax and Call Credit files.

All the best