Looking to move but have had mortgage arrears in the past

bruce_19_2

Looking for some information.

My wife and I are looking to move house but I have had a bad credit history until last year when I have my wife full control. I missed 5 mortgage payments but brought them up to date on the 6 month. This was in April of last year and we are looking to move into a bigger house. We have paid off everything that we don't need and closed the accounts but our scores are still low but getting better.

So would lenders not look at us because of the past. Payments have been on time on most accounts since there have a 2 missed payments in the last year.

Thanks

Dave_Ham

Depends upon the rest of the case, specifically your deposit as a percentage of purchase price..

Not necessarily a showstopper, but detailed lender selection is crucial

bruce_19_2

We have a 20% deposit for a new house. I have spoken with a mortgage advisor and they have said one 1 company would deal with us and the interest rate is rediculouse.

Dave_Ham

It really will all depend upon the content of your Experian, Equifax and Call Credit reports.

Whether the lender defaulted you is also a huge consideration and just because your Wife took control, will not be a rationale that will inspire a lender to lend now that your situation is better.

Suggest you just have a chat with another broker, typically this is free to have a chat and see what solutions there may be. You will definitely need to be armed with your credit files though, as any decent broker will require these.

20% should give you options, although you are unlikely to achieve top rated products based upon your situation.

Good luck

Flashmanchop

Aldermore Mortgages.

Definately worth a call from your Broker.