Help needed for new mortgage

mrscannon

Hi
looking for some help me and my husband have decided to get a mortgage again. We haven't had a mortgage for 5 years when we used the mortgage rescue scheme to sell our house( I was on mat leave husband was made redundant)
This previous mortgage is still on our credit file as a default, will thus have a big impact on us applying for a new mortgage? We are willing to pay a higher rate of interest as we are looking at houses around £85000 with a 10% deposit as this will still work out cheaper than the £650 rent we are paying at the moment.
Do we have any chance of getting a mortgage or should we wait it out a bit longer? Just don't want to be trying and damage our credit file further
Thanks in advance

ACG

I cant see any lender doing this with a 10% deposit.

I would be thinking probably 25% minimum, possibly more. It would also be a higher rate of interest I imagine.

Not something I have ever tried to overcome being completely honest but any issues with mortgage payments isnt looked on as leniently as unsecured debts.

mrscannon

On my credit file the mortgage account shows as 4 payments late ( we got told to do mortgage rescue scheme our account had to go into arrears) it was settled 31/10/2009.

ACG

Does it show as 1234 or 1111/10100101 on your credit report?

I still cant see this getting through at 90% ltv.