Mortgage chances, 1 of us with adverse credit

cityoflights

Hello all,

Sorry but I thought this might be a good place to get some basic advice. OH & I applied for a mortgage last year, but were declined. We are currently living with parents & saving but I want to know if it will be worth applying again in a year's time/our chances of success. If we actually won't be able to do it even in a year, then I'm tempted to give up and rent. Something we really wanted to try and avoid.

Working family. 2 children.
We will have 10% deposit.
Looking at homes 115-125k mark.

My salary = £25-30k
OH salary = £14k

Me
All payments up to date
Last missed payment/s were in 2011, everything spotless since then
Car payment of around £163/month, no other credit agreements

OH
1 x CCJ of almost £600, satisfied
1 x loan Default, registered 2011, now being paid and up to date

If anybody can advise as to whether or not we'd have a shot. That would be helpful.

amnblog

You have a shot. The date of the CCJ will be key.

Contact a sensible mortgage broker.

ACG

Date of CCJ and default would be important (when in 2011).

cityoflights

amnblog wrote: »

You have a shot. The date of the CCJ will be key.

Contact a sensible mortgage broker.

Thank you for responding. Can I just ask if the date satisfied or date CCJ was registered against OH's name is more important? I'm guessing they both matter to a degree...

ACG

The date they went on the report.

cityoflights

I've just checked and it turns out the CCJ was earlier, June 2010. I need to find out on the default.

Dave_Ham

Please speak to a recommended broker and this should be achievable now, I would be really surprised if not.

Well worth achieving your OH Experian, Equifax and Call Credits in advance of formally discussing with a broker.

Good luck