First-time buyers mortgage advice

mf1

Folks,

any help would be much appreciated.

My wife and myself are at the initial stages of applying for a mortgage.

She has a flawless credit report, mine's not so good. I've an Experian score of 729 (fair), with a credit card balance of £330, and a settled default credit card (settled in April this year). Other than that I've no debt, my wife has none whatsoever.

We have a 10% deposit (we've seen a house at £140k we really like).

It seems the default is really throwing a spanner in the works.

Does anyone have any similar experiences, or know of any lenders that will work with us? Bear in mind we're based in Northern Ireland.

Any help would be really appreciated.

kingstreet

When the default was settled, is a lot less important than when it was registered and how much it was for.

mf1

thanks for the reply. It was for £2k, in 2009.

kingstreet

I suspect you'll struggle with a 90% mortgage with a default that size, even four years ago.

Can't say I know much about the NIL mortgage market, so unable to make suggestion, other than speak to whole market or independent broker if you have not already done so...