What's the odds......

Bartman1310uk

Over the years we got our selves as many do into debt, then a couple of years ago I decided to get my head out of my rear end and sort it out.
Thankfully, with a lot of hard work, we did. That was last year, this year we have saved £10k towards buying our House off of the Council, it's valued at approx £130k, with discount we get it for £68k.
However, I have a few concerns. Now back in 95, we got repossessed, my wife went bankrupt in 2000, but I never. Our Credit reports shows one default, which was paid in full, however there are 4 current credit providers showing I have been excellent payer over a number of years. I am the sole wage earner and am self employed with my last 3 years accounts showing an average of £35k.

So, my question is, with my discount, and £10k savings I would be looking for a £58k mortgage, will this be possible to achieve with my previous, embarrassing history?

kingstreet

Obtain all three versions of your credit file and your last three years' SA302s and put them in front of a whole market broker.

The information you have given is not sufficiently detailed to enable speculation about your chances.

Dave_Ham

Echo above, all 3 credit files will be crucial.

Whilst the information would rule out some lenders, the biggest determining factor is how the default looks on the credit files.

The date and amount being crucial.

I would suggest there is a decent enough chance of achieving this, albeit becomes much harder if the default is of a recent nature

Bartman1310uk

Thanks for the replays, much appreciated.