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Mortgage with defaults?

Shazzyp1
Shazzyp1 Posts: 1 Newbie
in House buying, renting & selling
Hi, I'm new to this site so hope I'm posting this in the right place..
Me and my partner have had an offer accepted on a house. We have a 15% deposit (£25k) but are struggling to find a lender as he has 2 defaults.
We both work full time with a joint income of £77k and we have outstanding credit card debt of roughly £5k. He also owns a flat which we are currently renting and this rent covers the mortgage.
We have been using a broker who has come up with a few options, each of which has refused us. Out credit history is good with the exception of these 2 defaults.
I'd be grateful for any advice on where to go from here..
Many thanks

Comments

  • BitterAndTwisted
    BitterAndTwisted Posts: 22,492 Forumite
    10,000 Posts Combo Breaker
    With two defaults there's no such thing as having a good credit history. If a decent independent broker can't find a lender for you, you've no hope.

    How about applying for a mortgage on your own as it seems this partner is a liability.
  • ACG
    ACG Posts: 24,735 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    When are the defaults dated?

    Are they satisfied?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Road_Hog
    Road_Hog Posts: 2,749 Forumite
    1,000 Posts Combo Breaker
    As has been said, if you've used a decent mortgage advisor and they can't find you anything, then you're up a certain named creek without a paddle.


    Again, as has been said already, have you paid off these defaults and are they CCJs?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Shazzyp1 wrote: »
    We both work full time with a joint income of £77k and we have outstanding credit card debt of roughly £5k.

    Doesn't look good given your income. Pay it off from your savings.
  • kingstreet
    kingstreet Posts: 39,350 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Amount of each default?

    Date of registration of each?

    Which credit files are they visible on?

    If you haven't obtained all three versions of his credit file, or been asked to do so by your broker, get them and get another broker. It's the absolute first step on any case with credit issues; first know your enemy.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • poppysarah
    poppysarah Posts: 11,522 Forumite
    Income 77k between you: split how?

    Debts? Sort them. Defaults? Why?

    You have some money saved but why not more?

    If you can work out how to save more money then it'll put you in a much better position.
  • thequant
    thequant Posts: 1,220 Forumite
    Shazzyp1 wrote: »
    I'd be grateful for any advice on where to go from here..


    some good suggestions so far on this thread, but until we know wether they are satisfied or unsatisfied defaults it's impossible to advise especially if you are relying on his income to satisfy the lending requirements.
This discussion has been closed.
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