mortgage with defaults?

cath2126

Can we get a mortgage with 2 defaults?
Looking at a property worth £80k, have a 15% deposit, my husband has 2 defaults,
1. default april 2011, was settled in nov 2012
2. default april 2011, currently paying off monthly.
My credit history is clean, no defaults etc
Thanks

Dave_Ham

Potentially yes.

It will depend upon the rest of the detail, although likely to rquire a broker.

Worthwhile getting certainly his experian, equifax and call credit reports...

All the best

ACG

You can, but its definitely one for a broker to sort out for you.

cath2126

thanks, have been looking for a broker but not really sure where to start, are there are any that could be recommended in notts area?

Gixer600

I was in the same situation as you, but i managed in the end. I got my mortgage with halifax.

cath2126

have just ordered credit reports, what other details?

cath2126

cath2126 wrote: »

thanks, have been looking for a broker but not really sure where to start, are there are any that could be recommended in notts area?

sorry, just realised you cant recommend, I did call a couple of 'whole of the market' brokers and they said defaults have to be satisfied for 12 months+ before you can get a mortgage, if this isn't the case there is hope then?

ACG

There is hope, they dont have to be satisfied for 12 months. Try a few more brokers maybe? A decent broker will be able to sort this for you (as dave says) subject to everything else being ok.

Dave_Ham

Hi, assume they were mortgage brokers of limited experience as alone the saisfied dates will not make or break this case. The other considerations are:

Deposit - where has it come from, savings will need to be built up, gift will need to be confirmed but lender will want full sight and proof

Property - at that price if the property is a flat or ex council house it will be trickier

Income - all needs to be declared, sustainable and crucially not stretching the income multipliers

Bank account conduct - review of last 3-6 months banking with bills out on time, no unusual transactions and generally well conducted.

Hope this gives you an insight, there is a possibility but your chances will be improved the better the broker you engage.

All the best

cath2126

Thanks, that's given me something to think about, will start looking for a better broker

cath2126

Gixer600 wrote: »

I was in the same situation as you, but i managed in the end. I got my mortgage with halifax.

Did you go direct to Halifax, I didn't think any main stream lender would touch defaults?