Bd credit mortgage

institches65_2

Hello. Hoping someone can advise me. My husband and I have recently finished a debt management plan which took 4 years to clear. Unbeknownst to me as we cannot find or recall receiving paperwork there are two defaults on my credit file. They were put on in 2009 at the start of the DMP. I am asking for copies of defaults but suspect I won't win that particular battle!
I recently applied for mortgage and am struggling to find a lender. I have £57,000 deposit, no debts at all, earn £28,000. Does anyone know of any lender that may give me a mortgage? Looking for approx £130,000 over 20 years. Currently paying £900 onto rent and can't sustain it much longer. Husband older than me and needs to semi-retire at the very least. His pension and salary not usable due to his age (75). Any advice gratefully received. Want to move on and make new start now we are debt free.
Thank you

monty-doggy

How old are you? That will be a factor in getting it for 20 years.

Are you getting it in just your name? As your husbands age will be against you.

Two defaults isn't the end of the world, you need to check all three credit reference agencies, get copies and then see an independent whole of market broker who will find the best lender to suit your circumstances.

However I'd leave it six months before applying again if you can as you now have a refused mortgage application on your file.

Dave_Ham

You are probably aware already, although this will be tough going.

Your age is crucial, as is where the deposit came from and whose it is.

Experian, Equifax and Call Credit reports will also be fundamental to your options so you need to achieve these asap

Assuming you cannot use mainstream lenders which I doubt from the debt management plan, you may need to slightly lower your purchase price expectations as this is a high income multiple currently.

All the best

amnblog

You say that you cannot sustain £900 per month rent.

How you considered how much a £130,000 mortgage over 20 years would be?

Given your credit history and the type of mortgage rate you could expect you are not going to be paying much less than £900.

institches65_2

Thanks for your messages. I am 48 next birthday. We built a property in France which went over budget hence financial problems. Eventually sold after 5 years on market (for a loss but we were desparate to shift it) which meant we paid off creditors and have deposit. Was hoping mortgage repayment nearer £700 but guess that's with a high street lender. Have approached broker but so far nothing. I had hoped that someone would lend to me, but beginning to lose hope.